ASIC has released its latest report on market integrity for the period 1 January to 30 June 2017. The report covers ASIC's work to help ensure Australia’s financial markets operate fairly and efficiently. Key outcomes during the six-month period include: The report looks at ASIC’s focus on cyber resilience, sell-side research and listing
Read MoreThe Minister for Revenue and Financial Services, the Hon Kelly O’Dwyer MP, has released draft tax consolidation legislation and an explanatory memorandum for public consultation. These important measures restore integrity to the tax consolidation rules, making sure they are operating as intended and providing appropriate tax outcomes. They continue the work
Read MoreLifesaving upgrades of remote airstrips will be funded under the federal government program according to Minister for Infrastructure and Transport, Darren Chester said. Officially opening round five of the Australian Government's Remote Airstrip Upgrade Programme, Mr Chester said airstrips in remote areas were crucial pieces of community infrastructure. “For many communities, air
Read MoreASIC has formally banned flex commissions in the car finance market, with the legislative instrument to ban these commissions registered on the Federal Register of Legislative Instruments today. Flex commissions are paid by lenders to car finance brokers (typically car dealers), allowing the dealers to set the interest rate on the
Read MoreThe Council of Financial Regulators’ (CFR) has released its policy statements on the regulation of Australian cash equities clearing and settlement services, developed in collaboration with the Australian Competition and Consumer Commission. Reforms to the provision of clearing and settlement facilities are part of the Australian Government’s competition law reform agenda
Read MoreThe 2017-18 State Budget includes a number of wide-ranging reforms that, once implemented, will deliver lasting reform to the public sector at a lower cost to taxpayers. The previously announced Service Priority Review will examine the functions, operations and culture of the Western Australian public sector. Its goal is to drive
Read MoreThe McGowan Labor Government's first Budget will make headways in implementing its comprehensive Plan for Jobs to diversify the Western Australian economy and create new jobs in a broader range of industries. Greater support and effort will be injected into the areas of science, technology, manufacturing, tourism, services, education services, agriculture
Read MoreThe WA Government has established a Debt Repayment Account to support the repayment of central borrowings in a further effort to get the State's finances back on track. Growth in State debt reached record levels and was put on an unsustainable trajectory by the previous Liberal National government. The account will be
Read MoreThe State Government will introduce a Foreign Buyers Surcharge to pay for a freeze on TAFE fees and assist in the difficult task of Budget repair. The surcharge will apply from January 1, 2019 at the rate of four per cent on all purchases of residential property in Western Australia by
Read MoreThe State's largest employers will assist in Budget repair through a temporary progressive payroll tax scale for employers with payrolls exceeding $100 million. The new measure helps share the burden of Budget repair across the community, with the State Government minimising the impact on struggling families and small businesses. From July 1,
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