White Collar wipeout

Original article by Robert Gottliebsen
The Australian – Page: 27 : 17-Apr-19

Media reports have suggested that the Commonwealth Bank and ANZ are looking to retrench up to 25 per cent of their staff. Rival banks will also need to reduce wage costs in order to remain competitive. Meanwhile, new technologies such as artificial intelligence and block chain will result in much bigger job cuts over the next decade, and in a wide range of sectors. The public service offers the greatest potential for major staff cuts, but unions will resist any such move. With fewer job opportunities in the future, more Australians will need to start their own business; in this context, the federal government’s move to establish a small business tax tribunal that is independent of the Australian Taxation Office is to be welcomed.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIAN TAXATION OFFICE, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, ACTU

High company tax rate halted Sydney shift for Catcha Group

Original article by Ben Potter
The Australian Financial Review – Page: 4 : 10-Jun-16

Catcha Group founder Patrick Grove has indicated that the corporate tax rate was a key factor in his decision not to relocate some of his Malaysia-based business empire’s operations to Australia. He adds that the corporate tax rate meant Australia was ruled out when he was considering shifting Catcha’s headquarters to a global city several years ago. The Federal Government intends to reduce the tax rate for all companies to 25 per cent over the next decade.

CORPORATES
CATCHA GROUP, IFLIX LIMITED, IPROPERTY GROUP LIMITED, ICAR ASIA LIMITED – ASX ICQ, ENSOGO LIMITED – ASX E88, REA GROUP LIMITED – ASX REA, NETFLIX INCORPORATED, AUSTRALIAN LABOR PARTY, ANDERSEN, TECHNOLOGY ONE LIMITED – ASX TNE, ONESHIFT PTY LTD, POWEREDLOCAL

Grove iFlicks the switch to revolutionise TV

Original article by John Stensholt
The Australian Financial Review – Page: 31 : 23-May-16

Streaming video start-up iFlix boasts about two million paying customers in Asia after its first year in operation, according to founder Patrick Grove. The Australian entrepreneur, who is ranked 104th on the 2016 edition of the "BRW" Rich List, aims for iFlix to have one billion paying customers within a decade. iFlix currently has a presence in Malaysia, the Philippines and Thailand, and Groves has flagged plans to expand into Vietnam and Indonesia.

CORPORATES
IFLIX LIMITED, NETFLIX INCORPORATED, CATCHA GROUP, METRO-GOLDWYN-MAYER INCORPORATED, SKY PLC, EMTEK GROUP, PHILIPPINE LONG DISTANCE TELEPHONE COMPANY, TELKOM INDONESIA, ANDERSEN, IPROPERTY GROUP LIMITED, REA GROUP LIMITED – ASX REA, ICAR ASIA LIMITED – ASX ICQ, ENSOGO LIMITED – ASX E88, FRONTIER DIGITAL VENTURES

Reward those who take risks: Packer

Original article by Damon Kitney, Christine Lacy
The Australian – Page: 3 : 21-Dec-15

Australian businessman James Packer says the nation must encourage entrepreneurship and innovation, and reward businesses and individuals for taking risks in order to succeed. He also stresses the need for Australia to have a quality education system in order to become a "smart country" following the end of the resources boom. Packer is holding talks with groups such as private equity firms regarding a proposal to delist Crown Resorts.

CORPORATES
CROWN RESORTS LIMITED – ASX CWN, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, QANTAS AIRWAYS LIMITED – ASX QAN, BHP BILLITON LIMITED – ASX BHP, SEEK LIMITED – ASX SEK

PM pushes risk taking, start-ups

Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 8-Dec-15

Prime Minster Malcolm Turnbull has unveiled the National Innovation and Science Agenda. He said at the CSIRO Discovery Centre on 7 December 2015 that Australia needs new ways of stimulating the economy, considering that the country could no longer count on the mining boom as the driver of the economy. The Government has proposed 24 measures, including income tax rebates and incentives for business start-ups.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, CSIRO, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AUSTRALIA. PRODUCTIVITY COMMISSION, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, KPMG AUSTRALIA PTY LTD

Turnbull’s bright idea: $1bn to drive innovation

Original article by Philip Hudson, Sid Maher
The Australian – Page: 1 & 2 : 7-Dec-15

A capital gains tax exemption for investors in business start-ups will be included in the Australian Government’s innovation and science statement, which will be launched on 7 December 2015. Meanwhile, a new cabinet committee will be responsible for co-ordinating the government’s expenditure on research and science, while the CSIRO will receive around $A100m in additional funding. The package is also believed to include measures aimed at encouraging more people to study sciences, technology, ­engineering and mathematics.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, CSIRO, DATA61, NATIONAL ICT AUSTRALIA LIMITED, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, OZEMAIL LIMITED, AUSTRALIAN LABOR PARTY, BUSINESS COUNCIL OF AUSTRALIA, SCIENCE AND TECHNOLOGY AUSTRALIA, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA

Ads in your cabs arriving soon

Original article by Ruth Liew
The Australian Financial Review – Page: 23 : 1-Dec-15

Fare Media was established by Luke O’Connor and Simon Wells, and specialises in the installation of interactive advertising display screens inside taxis. The custom-made touch-screen tablets are fitted to the back of the front seats, and allow passengers to view content such as ads, apps and surveys while in transit. The tablets are now installed in more than 400 taxis in Queensland, and Fare Media plans to enter the Sydney and Melbourne markets in 2016.

CORPORATES
FARE MEDIA PTY LTD, TOUCHMEDIA, ROADSHOW FILMS, GOLD COAST TOURISM, SUBWAY SANDWICHES PTY LTD, CARLTON AND UNITED BREWERIES, PROFESSIONAL TAXIS, TAXI COUNCIL OF QUEENSLAND, UBER TECHNOLOGIES INCORPORATED, WILSON ASSET MANAGEMENT, CABCHARGE AUSTRALIA LIMITED – ASX CAB

Tech fund rush to hit $1b

Original article by Patrick Durkin
The Australian Financial Review – Page: 1 & 6 : 2-Nov-15

Square Peg Capital will launch a $A200m venture capital fund that will invest in technology start-ups. Square Peg Capital was co-founded by Paul Bassat, who was also the joint founder of jobs website SEEK. Other recent initiatives in Australia’s venture capital space include a $A200m fund launched by Blackbird Ventures and Atlassian Software founder Michael Cannon-Brookes. Brandon Capital also launched a $A200m fund earlier in 2015.

CORPORATES
SQUARE PEG CAPITAL PTY LTD, SEEK LIMITED – ASX SEK, BLACKBIRD VENTURES PTY LTD, ATLASSIAN SOFTWARE SYSTEMS PTY LTD, BRANDON CAPITAL MANAGEMENT PTY LTD, AUSTRALIANSUPER PTY LTD, HEALTH EMPLOYEES’ SUPERANNUATION TRUST AUSTRALIA LIMITED, STATEWIDE SUPERANNUATION PTY LTD, HOST-PLUS, THE GROUP OF EIGHT LIMITED, AIRTREE VENTURES PTY LTD, ACCEL PARTNERS, 99DESIGNS PTY LTD, CARSALES.COM LIMITED – ASX CAR, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AUSTRALIA. OFFICE OF THE CHIEF SCIENTIST, WESFARMERS LIMITED – ASX WES, AUSTRALIAN FOOTBALL LEAGUE, GOCATCH, ROCKT, VEND LIMITED, SCRIPTROCK PTY LTD, JETSTAR AIRLINES PTY LTD

Perth housing mogul tops BRW young rich

Original article by John Stensholt
The Australian Financial Review – Page: 3 : 30-Oct-15

Blackburne Property Group founder Paul Blackburne is ranked third on the 2015 "BRW” Young Rich List, with estimated wealth of $A536m. The residential property developer had capitalised on the global financial crisis to buy development sites in Perth, and now undertakes around four apartment projects each year. The 2015 list features 10 property industry players, whose average wealth is $A191m.

CORPORATES
BLACKBURNE PROPERTY GROUP PTY LTD

Start-ups may avoid all capital gains tax

Original article by Fleur Anderson
The Australian Financial Review – Page: 1 & 6 : 5-Oct-15

The Parliamentary Budget Office estimates that a proposal to abolish capital gains tax for investing in business start-ups would cost the budget about $A30m annually by 2018-19. A Federal Government taskforce is considering the proposal, which was put forward by backbencher David Coleman and had the support of former treasurer Joe Hockey. The tax break would apply to investments in companies that have been in business for less than two years and whose annual revenue is less than $A1m.

CORPORATES
AUSTRALIA. PARLIAMENTARY BUDGET OFFICE, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NINEMSN PTY LTD, PUBLISHING AND BROADCASTING LIMITED, STARTUPAUS, KPMG AUSTRALIA PTY LTD