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23/06/2023 | Public Access
Economics update | 23 June 2023
Cybersecurity Risks and Skilled Workforce shortages pose challenges for Australian businesses The recent report released by the ABS on the characteristics of Australian business sheds light on the risks faced by Australian businesses due to cyber attacks. During 2021-22, 22 per cent of the businesses experienced a cyber security attack, up...
16/06/2023 | Public Access
Workplace relations update | 16 June 2023
Childcare Supported Bargaining Authorisation Application The United Workers Union, Australian Education Union Victorian Branch and the Independent Education Union of Australia lodged an application with the Fair Work Commission for a supported bargaining authorisation on June 6. The authorisation proposes to cover more than 60 employers and is the first application under the new multi-enterprise bargaining...
16/06/2023 | Public Access
Employment & skills update | 16 June 2023
Quality apprenticeships gain global endorsement New recommendations on developing and establishing quality apprenticeships were endorsed at the International Labour Organization conference. ACCI Director of Skills, Employment and Small Business Natalie Heazelwood spoke to the plenary on behalf of employers on the benefits the recommendations will bring. These recommendations are designed to provide...
16/06/2023 | Public Access
Economics update | 16 June 2023
Robust increase in employment ABS Labour Force data released yesterday shows strong employment growth of almost 76,000 in May, taking the number of people employed above 14 million, a record high. This also pushed unemployment back down to 3.6 per cent. This strong growth in employment is driven mainly by...
16/06/2023 | Public Access
Tourism update | 16 June 2023
National Visitor Survey results for March 2023 released this week show nights away and spend exceeding pre-pandemic levels. However, overnight trips were down. The report for Tourism research Australia is HERE. Domestic tourism spend was up 32 per cent ($2.1 billion) on March 2019 to $8.5 billion. This was generated by...
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...