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09/06/2023 | Public Access
Trade update | 9 June 2023
Australian Export Awards Applications for the Australian Export Awards close in June. For your opportunity to advance as a finalist in the national program, apply in your local state or territory export awards and win in one of the 13 national categories to automatically progress. Australian Export Awards will be...
09/06/2023 | Public Access
Workplace relations update | 9 June 2023
Commencement of Major Fair Work Amendments On June 6, 2023, significant amendments to the Fair Work Act 2009 commenced as a consequence of the Fair Work Legislation Amendment (Secure Jobs, Better Pay) Act 2022. These included: flexible work — new obligations imposed on employers relating to requests for flexible working arrangements...
09/06/2023 | Public Access
Economics update | 9 June 2023
Australian economy on a slowdown Earlier this week, the Reserve Bank announced a 25-basis point increase in the cash rate target, lifting it to 4.10 per cent. The Reserve Bank governor cited the recent data on inflation, wages growth and the turn-around in housing prices as factors driving the decision....
09/06/2023 | Public Access
Tourism update | 9 June 2023
Minister for Trade and Tourism addresses National Press Club At last weeks National Press Club address, Minister for Trade and Tourism, Don Farrell focused on many of the intersection points between the two portfolios. The recently minted UK Free Trade Agreement was a focus of the address, along with other...
26/05/2023 | Public Access
US and Australia ink Climate, Critical Minerals and Clean Energy Transformation Compact
On the sidelines of the G7 Summit in Hiroshima, Prime Minister Albanese has met with US President Joe Biden to make climate and clean energy a central pillar of the US-Australia Alliance. In support of the announcement, resources are now available online, including: The Australia-United States Climate, Critical Minerals and...
26/05/2023 | Public Access
Help the ICC Australia Banking Committee’s policy work
Following its meeting on 17 May, the ICC Australia Banking Committee is reaching out to ICC Australia members for commercial insights in relation to their trade experience. The ICC Australia Banking Committee contributes to the work of the ICC Global Banking Commission in respect of voting upon and providing comments...
26/05/2023 | Public Access
Workplace relations update | 26 May 2023
Protecting Worker Entitlements Bill The Fair Work Legislation Amendment (Protecting Worker Entitlements) Bill 2023 is currently being debated in the House of Representatives. The legislation proposes to: insert a right to superannuation in the National Employment Standards; clarify that the Fair Work Act applies to temporary migrant workers; provide stronger...
26/05/2023 | Public Access
Trade update | 26 May 2023
Don’t miss your opportunity to apply for your chance to win at the Australian Export Awards. The Australian Export Awards provides an opportunity to celebrate the achievement of Australian businesses exporting home-grown innovation to the world and recognise leaders in Australian industries. For your opportunity to advance as a finalist in the...
26/05/2023 | Public Access
Employment and skills update | 26 May 2023
Temporary Skill Shortage visas During the Employment and Skills Committee meeting on Tuesday, we heard from Home Affairs that Temporary Skill Shortage visas are being processed according to lodgement date. This means the new rate of $70,000 for the Temporary Skilled Migration Income Threshold (TSMIT) will apply to all visas that are...
26/05/2023 | Public Access
Health update | 26 May 2023
CSIRO's 'Innovate to Grow' program: Health and medical technology Applications are open for a free 10-week program for SMEs working on solutions in the health and medical technology sector to explore how R&D can advance their project or idea. The program will help SMEs step through the process of planning their project and provide access to...
26/05/2023 | Public Access
Economics and industry update | 26 May 2023
Multinational tax transparency ACCI has been actively engaged in consultation with the government on the exposure draft of the new multinational tax transparency legislation. This implements the country-by-country reporting (CbCR) requirements under Pillar Two of the OECD Inclusive Framework on Base Erosion and Profit Shifting. In general, we are supportive...
26/05/2023 | Public Access
Tourism update | 26 May 2023
Qantas profit result Qantas announced a revised profit forecast this week of around $2.5 billion before tax. The airline said bookings indicated that strong travel demand would continue, with revenue at 118 per cent of their pre-pandemic levels for domestic flights and 123 per cent for international journeys. The airline...
19/05/2023 | Public Access
Trade update | 19 May 2023
Digital Infrastructure and Space Technology On Tuesday, the ICC Australia Arbitration Committee held a panel discussion at Clifford Chance’s Sydney office. Over 40 attendees joined the committee for this fruitful and fascinating discussions on this important and emerging topic in dispute resolution, along with a valuable networking opportunity. The discussion...
19/05/2023 | Public Access
Tourism update | 19 May 2023
Roundtable with Minister Farrell and ABS arrivals Australian Chamber – Tourism members attended a roundtable with Minister for Trade and Tourism, Senator Don Farrell, who had recently returned from China on Tuesday. Members discussed the 2023-24 budget and ABS arrivals data released that day. There were 635,730 short-term visitor arrivals...
19/05/2023 | Public Access
Economics update | 19 May 2023
Wages continue to rise while the labour market softens Australia witnessed its highest annual wage growth since the September quarter of 2012, reaching 3.7 per cent annually for the March quarter of 2023. This was slightly below the Reserve Bank of Australia’s annual expectation of 3.8 per cent for the...
19/05/2023 | Public Access
Workplace relations update | 19 May 2023
Annual Wage Review 2022-23 An annual wage review hearing before the expert panel of the Fair Work Commission was held on Wednesday, in which ACCI participated. ACCI reiterated its call for a moderate increase to national minimum and modern award wages of 4 per cent on July 1, inclusive of...
19/05/2023 | Public Access
Health update | 19 May 2023
Health technology assessment policy and methods review The Department of Health is seeking public input to the current Health Technology Assessment (HTA) process and how it can be improved. HTA is a process used to evaluate the clinical effectiveness, safety, cost-effectiveness, and broader societal impacts of health technologies, such as medical...
19/05/2023 | Public Access
Employment and skills update | 19 May 2023
Employment and Skills Committee meeting The Employment and Skills Committee will be meeting virtually from 2-4pm on Tuesday, May 23. The meeting will host representatives from the office of the Minister for Skills and Training, Brendan O'Connor, and the Department of Employment and Workplace Relations, to discuss the 2023-24 budget...
12/05/2023 | Public Access
Mandatory code of conduct for the east coast gas market
ACCI is preparing a submission for the second round of consultation on the mandatory code of conduct for the east coast gas market. This will be legislated as Competition and Consumer Order (Gas Market Code) Regulations 2023. ACCI’s submission notes that proposed mandatory code of conduct will provide temporary relief...
12/05/2023 | Public Access
Small business update | 12 May 2023
Technology Investment Boost Senator David Pocock introduced an amendment into the Senate this week to extend the tax bonus measure in the technology investment boost with a modified scope, see here. The boost is part of the Treasury Laws Amendment Bill 4 which has been languishing in the Senate since late last...