Agribusiness, food & beverage Home
Bite Size Dealtracker
Food, Beverage & Agribusiness industry insights
Key insights for the Australian Food, Beverage & Agribusiness industry.
Consumer products & retail Home
GNC Group Consulting
The Technology Trap: Online innovation in retail
I recently attended the NRF Retail Big Show in New York, an overwhelming smorgasbord of retail technology and new store concepts.
Royal Commission wrap up
Top 10 things for Financial Services providers
Eleven months on from the first round of hearings for the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, Commissioner Hayne’s final report has been released.
Health & aged care Home
Aged Care Royal Commission
Setting the tone for the Aged Care Royal Commission
Last week’s hearings for the Royal Commission into Aged Care Quality and Safety, introduced the leaders of some of Australia’s peak bodies, unions, consumer organisations and the Secretary to the Department, Glenys Beauchamp. In all 26 witnesses were called.
Life sciences Home
Biotechnology Industry Position survey
Australia's biotechnology industry drives economic growth
The 2019 Biotechnology Industry Position survey conducted by Ausbiotech and supported by Grant Thornton has revealed that new technologies across regenerative medicine and medicinal cannabis are disrupting the industry, and Australia's global strength in clinical trials continues to drive contributions to the economic and social fabric of the country.
Manufacturing Home
mid-sized business report
Manufacturing is critical to our economy – how can we support the sector?
Although the knock-on effects of the Australian automotive industry exiting our country are yet to be fully understood, the industry is evolving, and manufacturing continues to be a major employer and critical to our overall economy.
Not for Profit Home
NATIONAL OUTCOMES MEASUREMENT PROGRAM
A practical framework
Royal Commissions and federal budgets are critical things for Nonprofit human service providers to be thinking about at this point in time.
Real estate & construction Home
mid-sized business report
Supporting affordable housing requires planning, certainty – and tax reform
There is a lot of noise around the property sector at the moment – and it’s not all positive. Prices are down – but this shouldn’t be a surprise when some markets (namely Sydney & Melbourne) saw unprecedented hikes in recent years.
Technology & media Home
Scaling-up for Growth
From start-up to scale-up
Navigating the complexities of growth and maintaining previous success is a challenge for all mid-size businesses.
- New South Wales State Budget 2014-2015
The New South Wales (NSW) State Government handed down its Budget on 17 June 2014.
The headline items from the State Budget are:
- 2014-15 Budget provides for a strengthening in the State’s fiscal position with a minor deficit of $283 million estimated for 2014-15
- State economic growth is the highest in Australia at 4.7%
- An expected above-trend growth of around 3% in each of the three years to 2015-16
- Growth will be led by household consumption and dwelling investment initially, and be underpinned by a strong improvement in non-mining business investment later
- Stronger budget surpluses are expected from 2015-16 and across the forward estimates, backed by strong revenues and an improved outlook for the NSW economy. An expected $2.2 billion surplus is expected for 2016-17
Major announcements
Major announcements from the State Budget included:
- Investment of $15 billion in infrastructure in 2014-15, which will bring the State’s total infrastructure spend to $61.5 billion over the four years to 2017-18
- Major capital works and spending over the next four years include:
upgrades to the Pacific Highway ($5.8 billion), Princes Highway ($681 million), Western Sydney Growth Roads ($557 million) and Great Western Highway and Bells Line of Road ($359 million)
the WestConnex Motorway project ($3.8 billion)
rail projects, including the North West Rail Link ($5.2 billion) and the Northern Sydney Freight Corridor ($576 million)
CBD and South East Light Rail ($401 million) - New South Wales signed up to the Asset Recycling Initiative in April 2014. As part of this, the Commonwealth will provide incentive payments of up to 15% of the assessed value of the asset for States that divest assets and recycle funds into new infrastructure investment
State taxes
Announcements in relation to State taxes included:
- Tax revenue is expected to grow by an average of 5.3% p.a. over the four years to 2017-18
- For 2014-15, GST revenue is estimated at $16.8 billion. GST payments are estimated to grow from $16.8 billion in 2014-15 to $18.9 billion in 2017-18, or 4.5% per annum on average
- Given the recent strengthening in employment growth, subdued payroll tax collections in 2013-14 are expected to recover in future years, underpinned by additional investment in Office of State Revenue collection and audit activities
- The NSW Office of State Revenue has released a publication stating an average premium rate reduction of 5% for WorkCover
- From 1 July 2014, the threshold for the First Home Owners Grant on new homes will be increased to $750,000 (from $650,000)
- Abolishment of all remaining Intergovernmental Agreement taxes from 1 July 2016. This includes the abolition of transfer duty on non-real business assets such as patents and intellectual property, mortgage duty on business transactions and duty on unlisted marketable securities
