THE Minister for Defence Industry, Christopher Pyne, today announced two significant defence industry contracts worth approximately $300 million and securing hundreds of local jobs while visiting defence industry facilities at RAAF Base Williamtown.

Mr Pyne said both BAE Systems Australia and Raytheon Australia had signed contract extensions with Defence securing the jobs of hundreds of workers which would drive growth in the local economy. The Minister made the announcement during his first trip to NSW as Defence Industry Minister. 

“These are exciting times for Defence industry and deliver on the Turnbull Government’s commitment to growing Australian industry as outlined in the Defence White Paper,” Mr Pyne said.

“Valued at approximately $200m, I am pleased to announce that BAE Systems Australia has won a two year extension to support the Hawk Lead-In Fighter ensuring ongoing work for approximately 300 people at RAAF Base Williamtown, NSW and RAAF Base Pearce, WA.

“The Hawk, as the training aircraft for the Classic Hornet and Super Hornet fleets as well as the Joint Strike Fighter, is incredibly important in Australia’s combat training capability, providing experience for our trainee strike and fighter pilots as well as the Air Combat Officers.”

Minister Pyne said he was also pleased to announce an extension to the Air Combat Training Services Support Contract for the ongoing sustainment and operation of the Air Combat Group's Hornet, Super Hornet and Growler Aircrew Training Simulators Systems.  

“This extension awarded to Raytheon Australia and its subcontractor Milskil, is valued at approximately $100m and brings together separate contracts for the management and execution of training and support services for Classic Hornet and Super Hornet platforms currently being undertaken by Raytheon Australia and Milskil,” Mr Pyne said.

“It also adds the EA-18G - Growler Training Support Services, support to the Spiral Upgrade program and additional services including Force Generation Services.

“The revised contract will sustain approximately 50 jobs, supporting Air Combat Capabilities located at RAAF Bases Amberley (QLD), Williamtown (NSW) and Tindal (NT).   

“The contract will provide management, aircrew training services delivery, engineering, training device maintenance and operation, force generation and general support services for the RAAF’s Classic Hornet, Super Hornet and Growler aircrew training simulators and maintenance training devices.”

The Minister’s visit to NSW also included a roundtable discussion with key defence industry stakeholders across the state and meetings with the state government.

The trip reinforces the Government’s commitment to forming a new partnership with Australian defence industry with a national approach being taken to ensure that Defence gets the equipment, systems and personnel it needs now and into the future.

www.defence.gov.au

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The Victorian Chamber of Commerce and Industry is delighted that Melbourne is once again the world’s most liveable city, for the sixth year running.

Victorian Chamber Chief Executive Mark Stone AM said it was no surprise to the residents of Victoria that our capital city is a vibrant and desirable place to visit and live.

“Melbourne has an array of offerings that is unrivalled, and the Victorian Chamber congratulates the Lord Mayor Robert Doyle and the City of Melbourne on enabling us to secure this accolade again,” he said.

“Victorian businesses are at the heart of our communities, in Melbourne and around Victoria, and enable the great quality of life we all enjoy.

“Our liveability credentials play a key role in companies choosing to establish their base in Melbourne or start up and grow their businesses here, with the quality of life our city has to offer helping them to attract some of the best talent in the world.

“The Victorian Chamber will continue to work with the City of Melbourne, State Government, and businesses and traders to ensure we continue to thrive and grow.

 “I have no doubt we will be in a strong position next year to retain our prized title as well.”

The Victorian Chamber of Commerce and Industry, established in 1851, is the most influential business organisation in Victoria, informing and servicing more than 15,000 members, customers and clients around the state.

victorianchamber.com.au

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CONFERENCE organisers can put colour into their next event by meeting with 80 key venues, hotels and suppliers in Brisbane next week.

Brisbane Pop-Up will see the city’s event products and services gather under the one roof for just over two hours at Brisbane City Hall on Wednesday 31 August.

Brisbane Convention Bureau General Manager Rob Nelson said Brisbane Pop-Up enabled conference organisers to seek out a kaleidoscope of products and suppliers for their events in the one hit.

New products attending include Brisbane’s first Art Series hotel The Johnson, Alex Perry Hotel & Apartments, Rydges Fortitude Valley and Howard Smith Wharves.

“Brisbane Pop-Up gives business event planners the opportunity to take their next event from ordinary to extraordinary by meeting with the city’s suppliers at the one time and in the one spot,” Mr Nelson said.

“Attendees can stay for as little or as long as they like to source contacts and new ideas for their next event.”

Attendance at Brisbane Pop-Up is free for registered guests and includes lunch and prize giveaways from the participating exhibitors.

For more information, go to http://www.choosebrisbane.com.au/conventions

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IN LESS than two weeks, the Australian Institute of Management (AIM) will be fighting to set a new Guinness World Records title for the Most people attending a business speed networking event (multiple venues), with a day of national networking on August 29, 2016.

Open for professionals, students, job seekers and community members, the AIM National Networking Day will celebrate ‘real’ networking, with simultaneous events taking place across the country; in Melbourne, Sydney, Brisbane, Adelaide, Canberra, Darwin and Cairns.

In this global marketplace, where virtual networking is on the rise, the importance of face-to-face rapport and networking ‘chemistry’ is more important than ever.

National Networking Day is encouraging individuals to develop these ‘real networking’ skills and develop a platform for personal career development, business growth and overall better business collaboration for the future.

With seven simultaneous events taking place across the country, AIM is ready to break the record, however to achieve this the overall total of attendees must exceed the single-venue record of 1,068 participants.

In 2013, AIM’s Regional Committee in Cairns broke the Guinness World Records title for ‘Most people attending a business speed networking event in a single venue’, with 475 people across 215 business sectors exchanging business cards in one location.

So now Australia has decided it’s time to bring a new networking title down under.

The event will see 1.5 hours of speed-networking take place – where guests have three minute rounds to introduce themselves and network with a fellow attendee. To break the Guinness World Records title, each attendee must meet with a minimum of 20 other participants. In addition to this valuable face-to-face networking experience, guests are invited to enjoy drinks following the event.

So for those who are seeking growth opportunities, new connections, job hunting, business developing or team building, it’s the perfect opportunity to gain some real face time and expand your network.

Prices start from $55 for AIM members, $75 for non-members, and $50 for full-time students.

For more information or to sign up for your local event visit the website www.aim.com.au/nnd2016.

About AIM

The Australian Institute of Management is the peak body for managers and leaders. For 75 years, AIM has been helping professionals develop into becoming great leaders. With more than 12,000 individual and corporate Members, we believe their decisions not only impact people’s lives but are felt well beyond the workplace.

With the right tools, resources, networks and focus, these decisions can – and do – have a positive impact on society. This view is captured in AIM’s Vision: Better managers, better leaders, for a better society. For more information, visit www.aim.com.au

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THE RECENT announcement by Telstra of a $1.5 billion share buy-back has sparked a call from the Institute of Public Accountants (IPA) for the government to review the revenue leakage generated through off market buy-back schemes.

“In this difficult, fiscal deficit environment that Australia finds itself in, it’s time to have a look at the off-market share buy-back scheme loophole that continues to reduce the Commonwealth revenue line,” said IPA chief executive officer, Andrew Conway.

“Off-market share buy-backs are different to on-market shares bought directly through the ASX. They comprise of a capital and dividend component and are offered to all shareholders on an opt-in basis. If the shares were sold on-market there would not be any dividend component and the proceeds would be generally capital gains or losses. 

“People on higher marginal tax rates receiving a dividend have to pay ‘top-up’ tax and are therefore, much less likely to participate in off-market share buy-back schemes.

“This creates an inequitable distribution of franking credits than would ordinarily be the case had the company paid the dividend equally amongst all shareholders. Off-market buybacks are mostly attractive to nil rate or low tax paying shareholders.

“For entities that pay no tax and superannuation funds paying no tax or up to 15 percent tax, share buy-backs can be a genuine benefit as they receive the additional incentive of an imputation rebate directly from the Government.

“While buy-backs may be a useful tool for corporate entities in terms of capital management, they come at a cost to the taxpayer, as Treasury coffers miss out on top up tax due to the skewed distribution of franking credits.

“Streaming of franking credits to specific classes of shareholders (ie those paying nil or low tax) is normally caught by anti-avoidance streaming rules. 

“If more major listed entities engage in off-market share buy-backs the revenue leakage cannot be ignored while we are running historically high budget deficits and likely to do so in the short to medium term.

“The Government needs to seriously consider the tax treatment of off-market share buy-backs, for the benefit of all taxpayers,” said Mr Conway.

About the Institute of Public Accountants

The IPA, formed in 1923, is one of Australia’s three legally recognised professional accounting bodies.  In late 2014, the IPA acquired the Institute of Financial Accountants in the UK and formed the IPA Group, with more than with more than 35,000 members and students in over 65 countries.  The IPA is a member of the International Federation of Accountants, the Accounting Professional and Ethical Standards Board and the Confederation of Asian and Pacific Accountants.  The IPA was recognised in 2012 as Australia’s most innovative accounting organisation and listed in the top 20 in the 2012 BRW Most Innovative Companies List.  

publicaccountants.org.au

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THE Victorian Chamber of Commerce and Industry’s Chief Executive, Mark Stone AM, today announced the resignation of the Victorian Chamber’s Chief Operating Officer, Sally Capp, who is leaving to become the Victorian Executive Director of the Property Council of Australia. 

Mark Stone said: “I would like to thank Sally for the contribution she has made to the Victorian Chamber in the time she has been with us, and along with our President and Board, I wish her all the very best in her new role with the Property Council.”

Sally joined the Victorian Chamber as Chief Operating Officer in 2014 and as a member of the Executive team has initiated and overseen a range of membership and commercial activities for the Chamber.

The Victorian Chamber will shortly commence recruitment for this position.
 
About the Victorian Chamber of Commerce and Industry
 
The Victorian Chamber of Commerce and Industry, established in 1851, is the most influential business organisation in Victoria, informing and servicing more than 15,000 members, customers and clients around the state.

www.victorianchamber.com.au

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IN LESS than two weeks, the Australian Institute of Management (AIM) will be fighting to set a new Guinness World Records™ title for the most people attending a business speed networking event (multiple venues), with a day of national networking on August 29, 2016.

Open for professionals, students, job seekers and community members, the AIM National Networking Day will celebrate ‘real’ networking, with simultaneous events taking place across the country; in Melbourne, Sydney, Brisbane, Adelaide, Canberra, Darwin and Cairns.

In this global marketplace, where virtual networking is on the rise, the importance of face-to-face rapport and networking ‘chemistry’ is more important than ever. National Networking Day is encouraging individuals to develop these ‘real networking’ skills and develop a platform for personal career development, business growth and overall better business collaboration for the future.

With seven simultaneous events taking place across the country, AIM is ready to break the record, however to achieve this the overall total of attendees must exceed the single-venue record of 1,068 participants. In 2013, AIM’s Regional Committee in Cairns broke the Guinness World Records™ title for ‘Most people attending a business speed networking event in a single venue’, with 475 people across 215 business sectors exchanging business cards in one location. So now Australia has decided it’s time to bring a new networking title down under.

The event will see 1.5 hours of speed-networking take place – where guests have three minute rounds to introduce themselves and network with a fellow attendee. To break the Guinness World Records™ title, each attendee must meet with a minimum of 20 other participants. In addition to this valuable face-to-face networking experience, guests are invited to enjoy drinks following the event.

So for those who are seeking growth opportunities, new connections, job hunting, business developing or team building, it’s the perfect opportunity to gain some real face time and expand your network.

Prices start from $55 for AIM Members, $75 for Non-Members, and $50 for full-time students.

For more information or to sign up for your local event visit the website www.aim.com.au/nnd2016.

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THE Australian Retailers Association (ARA), is hoping this week’s interest rate cut will halt the year on year slide of retail sales growth, with Australian Bureau of Stastics data showing growth for the year to June 2016 of 2.7 percent.

Retail sales growth has been on a decline for the last six months, falling from a high of five percent in June 2015.

Month on month growth (May 2016 compared to June 2016) came in at a meagre 0.1 percent. Total retail sales for June 2016 were $25 billion.

Russell Zimmerman, ARA Executive Director, said the June figure is the combination of several factors, most predominately the lead up to the Federal Election on July 2.

“Elections are notorious for causing lower consumer confidence and depressed sales, which appears to have been the case here,” Mr Zimmerman said.

“Unseasonably warm temperatures across the nation, deflation, and world events, such as the UK’s Brexit decision and fallout, and the growing prominence of the upcoming US election, all took a toll on consumer confidence in June, and while some of these issues will cycle out in the next few months, there some retailers who are doing it tough at the moment,” he said.

Retailers in the Northern Territory and Western Australia particularly felt the pinch, with the lowest sales in at least five years, with NT experiencing a decline 0f 1.3 percent in sales, while WA managed an increase of just 0.5 percent.

Tasmania has continued its sales comeback, with the largest growth of all the states and territories, at 4.6 percent, followed by Victoria and the ACT with 3.9 percent and 3.8 percent growth respectively.

Following on from the trends of the last few months, household good suffered almost static growth of 0.8 percent, while food, which is under significant pressure from competition and deflation, posted 1.8 percent growth.

Department stores, however, will be rejoicing at their healthy 4.9 percent growth following a period of stagnation in the last two years, while clothing and footwear was the big winner, increasing sales by 8.9 percent.

“There are some positive changes to have occurred since June, and the ARA anticipates that this will result in a return to the higher growth of 2015, Mr Zimmerman said.

“The lowering of interest rates this week is predicted to boost confidence and provide consumers with more discretionary cash, and with the Election now behind us and producing a clear result, we’re hopeful retail will bounce back to a healthier level of growth in the coming months,” he said.

YEAR ON YEAR RETAIL GROWTH (June 2015 to June 2016 seasonally adjusted)

By category:

Food, 1.8 percent; household goods, 0.8 percent; clothing, footwear and personal accessories, 8.7 percent; department stores,4.9 percent; other retailing, 3.8 percent; cafés, restaurants and takeaway foods, 2.3 percent.

By state:

NSW, 3.2 percent; Victoria, 3.9 percent; Queensland, 1.5 percent; South Australia, 3.1 percent; Western Australia, 0.5 percent; Tasmania, 4.6 percent; Northern Territory, -1.3 percent; and Australian Capital Territory, 3.8 percent.

About the Australian Retailers Association:

Founded in 1903, the Australian Retailers Association (ARA) is the retail industry’s peak representative body representing Australia’s $293 billion sector, which employs more than 1.2 million people. The ARA works to ensure retail success by informing, protecting, advocating, educating and saving money for its 5,000 independent and national retail members throughout Australia. For more information, visit www.retail.org.au or call 1300 368 041.

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