• 04 Nov 2014 12:03 PM | Anonymous member

    Subclass 188 Business Innovation and Investment (Provisional) Visa Review:

    On 14 October 2014, the Department of Immigration and Border Protection ('DIBP') announced a number of upcoming changes to the Business Innovation and Investment (Provisional) Visa ('Subclass 188 visa’).

     

    While the precise timing of these changes remains unannounced, they are scheduled to occur during the 2014-15 programme year.

     

    Yesterday’s announcement highlighted the below key changes:

    • Introduction of a new Premium Investor Visa (‘PIV’) stream to the Subclass 188 visa which will require an investment of AUD15 million into a complying investment and nomination by Austrade. Holders of the PIV will not have a residence requirement and will be eligible for permanent residence after maintaining the investment for 12 months.
    • A residency requirement of 180 days per year for secondary holders of the Subclass 188 visa under the Significant Investor stream.
    • Allowance of ‘role swapping’ between the primary and secondary applicants while holding a Significant Investor Stream visa in order to meet the residency requirements towards permanent residence. 
    • Introduction of Austrade as a nominator for the Significant Investor stream and also as policy controller in relation to the assessment of complying investments. 
    • A requirement that the complying investments remain unencumbered for the entire duration of the provisional Significant Investor visa.

    The DIBP has indicated that the changes relating to the Significant Investor visa will not apply to current holders of the visa or current applications processing with the Department.

     

    Background:

     

    The Subclass 188 visa was introduced by the Australian Government in November 2012 in an effort to attract foreign investment into Australia. The Significant Investor stream was created within this subclass requiring a minimum investment of AUD5 million into a complying investment for four years. With minimal residence requirements and no points test, this has been an attractive option for high net worth individuals. Currently, the visa requires the primary applicant to be present in Australia for a minimum of 160 days (cumulatively) during the course of the four year visa term and to also maintain the investment in order to then qualify for permanent residence.

  • 21 Oct 2014 3:50 PM | Anonymous member

    Asia-Pacific Business Forum (APBF) 2014

    25-27 November 2014, Colombo, Sri Lanka

     

    The Asia-Pacific Business Forum (APBF) is the flagship regional business forum organized by ESCAP. Policy makers, business leaders and experts from Asia-Pacific countries will meet for three days of discussions in Colombo, Sri Lanka. This year's APBF focused on “Enhancing regional business sustainability and investment" with the aim to give businesses and other stakeholders from South Asia a stronger voice. 

    Over 500 senior government officials and business executives throughout Asia and the Pacific are expected to participate in this year’s Forum. Also the Chairman of Maruti Suzuki, Mr. R. C. Bhargava, the former President of Maldives, Mr. Mohamed Nasheed, the Minister of Economic Development of Sri Lanka, H.E. Mr. Rajapaksa and the Executive Secretary of ESCAP, Dr. Shamshad Akhtar have already confirmed their attendance to APBF 2014. 

    More information at: http://apbf.unescap.org/



  • 17 Oct 2014 2:17 PM | Anonymous member
    “Quiet Achiever” takes stock and looks to the future
    By Scott McClellan, Director CACC, with notes from Dominic Hudson, Director CACC.

    By 2031 another 1.3 million people will call Sydney home and daily trips on Sydney’s transportation arteries will have increased by 34 percent. How will the city cope?
    That and many other questions about the future of Sydney’s road, rail, waterway, bicycle and other people and freight-moving infrastructure are on the mind of NSW Minister for Transport, the Hon. Gladys Berejiklian, who addressed the 1 October CACC luncheon co-hosted by RBC Capital Markets at the Hilton in Sydney.
    The self-described ‘quiet achiever’ has said: “I just do my own thing and, in good time, the results show.”
    When she came into the portfolio in 2011 she had six top priorities:
    1. Establish an integrated transport authority
    2. Create the 23-kilometre North West Rail Link
    3. Create the South West Rail Link
    4. Deliver a feasibility study to extend the light rail network
    5. Develop an integrated, electronic ticketing system
    6. Award franchises to run and maintain Sydney ferries

    Now all six priorities have been achieved, including:
    1. Creation of Transport for NSW Authority in November 2011
    2. In December 2012 the Government announced that it would extend the light rail link
    3. Recently signed the $8.3bn North West Rail Link contract, scheduled for operation in 2019
    4. The South West Rail Link construction is underway with services scheduled to start in early 2015; and
    5. The Opal Card continues to be rolled out across the public transport system

    She was particularly proud of the successful roll-out of the Opal Card, noting that uptake of the new system, especially the automated top-up of card balances, was running well ahead of projections. The high level of acceptance of the automated system had freed up front line staff from mundane ticket selling to enable better customer service and support. She put the success of Opal down to the hard work done in her years in opposition, researching successful ticketing systems in cities as diverse as Vancouver, London and Singapore.
    In her remarks, the Minister focused on the challenges for the future and foreshadowed some exciting infrastructure plans for the State. She emphasized the government’s determination not to ‘promise’ projects that never get delivered. She said businesses need ‘certainty’ in order to have the confidence to invest and it was the government’s intention to build confidence (and certainty) by delivering on its promises. Speaking to an audience heavily skewed towards finance, engineering, transportation and construction, the Minister outlined several new and ongoing challenges, including delivering the NorthConnex and Westconnex roads.

    The Minister joined the Liberal Party in 1991 when she was 21 and served as one of the earliest female presidents of the Young Liberals, from 1997 to 1998. After she obtained her Bachelor's degree in Political Science everybody told her she should have something to fall back on and would be more rounded with another career path. Her choice was a Masters in Commerce, which put her behind a desk in Banking for five years. Elected to parliament in 2003 in the seat of Willoughby, in opposition she held a broad range of shadow ministries from Youth Affairs, Mental Health, Public Accounts, Waterways, and Transport, which she retained when the Coalition was elected in a landslide in 2011.
    Clearly, in the Transport portfolio she has a lot on her plate, but few in the room could have doubted the determination of this ‘quiet achiever’ to deliver the goods, and on time too.


  • 14 Oct 2014 4:41 PM | Anonymous member

    Canadian Australian Chamber of Commerce
    A time to re-discover the similarities between our two nations

    By Scott McClellan, Director, Canadian Australian Chamber of Commerce

    At a recent Economic Leadership Forum in Melbourne, Prime Minister Tony Abbott drew on old war-time ties to demonstrate the bond that exists between Australia and Canada, a relationship too long taken for granted and inadequately nurtured.

    “On a wall in my offices, hangs a painting of a World War One battlefield near Vimy Ridge where Canadian and Australian soldiers had been comrades-in-arms,” he said. “In those days, it would have been taken for granted that Canadians and Australians should have gone into action together, as part of the British Empire’s armies in France. These days, despite a language in common, a shared Westminster parliamentary tradition, and a Queen of Canada who is also the Queen of Australia, we are not so often in each other’s thoughts. That should change.”

    By invoking Vimy Ridge, Mr. Abbott would have pushed a button with the Canadians in his audience. For most Canadians, Vimy Ridge is considered their crucible of nationhood, much the same way most Australians believe their own national identity was forged on the bloody beaches and hillsides of Gallipoli.

    “With two way investment at over $70 billion – and with Australian companies such as BHP playing an active role in Canada – the commercial relationship is in reasonable shape,” observed Mr. Abbott. “But there should be more to our friendship than money. The relationship is strong but under-developed even though we are as like-minded as any two countries can be.  As the world’s tenth and twelfth largest economies, our two countries carry considerable clout. But despite inhabiting a very similar intellectual and cultural space, we are rarely as conscious as we should be of each other’s presence.”

    As economies dominated by resources and agriculture, it would be easy to see the two countries as commercial rivals in the global contest for new markets.  And there have been skirmishes over the years: for example, a dispute over the import of Canadian salmon to Australia in the mid 90’s. It was not finally settled by the World Trade Organisation until 2000.

    But conflict has been the exception, not the rule. A 2012 report for the Canadian Council of Chief Executives found that we have “highly similar economies in terms of size, wealth, governance systems, most observable socio-economic characteristics, resource endowments and specialization in international trade. To the extent that countries trade because they are different, this works as a disincentive to deepening trade relations.”

    Despite the shortage of trade in goods and services, the study found that bilateral investment had become a major feature of commerce between the two countries. Clearly there is high level of mutual trust and strong investor confidence on both sides:

    “Both Canada and Australia have global direct investment (FDI) stocks that are larger than annual global exports of goods and services. For Canada, in 2010, the stock of investment was 1.55 times the size of global exports of goods and services; for Australia, the comparable ratio was 1.31. However, in the bilateral relationship, these ratios are about an order of magnitude larger: for Canada the ratio of direct investment in Australia to its exports of goods and services to Australia in 2010 was 8.7; for Australia the comparable figure was 13.1. While foreign affiliate sales data are not available on a bilateral basis, applying the global average of a $1.67 in foreign affiliate sales for $1.00 in FDI, foreign affiliate sales in 2010 may be estimated at US$ 36 billion for Australian firms in Canada and US$ 25 billion for Canadian firms in Australia. Seen this way, the relationship suddenly looks neither smallundefinedUS$ 65 billion in two-way trade plus foreign affiliate salesundefinednor lagging in growth.”

    The same report found that “there is room for further development of trade in various sectors of particular interest, including (in terms of Canada’s export interests) agricultural products; food and beverages; fish and seafood products; agricultural technology and equipment; forest products; metals, minerals and related equipment, and consumer products (including apparel and fashion); and (in terms of Australia’s export interests), environmental goods, mining and oil & gas technology, and wine.”

    The Canadian Australian Chamber of Commerce (CACC) has an important role to play in raising the level of ‘consciousness’ between the two countries.  Its programs and networking events are designed to help grease the wheels of enterprise.

    Founded in 2005, CACC is a not-for-profit organisation whose focus is to build and strengthen trade and business connections between Australia and Canada. It hosts and co-sponsors functions, events, cocktail receptions, trade delegations and presentations from business leaders and politicians from all major parties. CACC maintains relationships with senior and operational level staff of Government in both countries, providing access to an extensive and growing network of individuals and organisations with an interest in the Canada-Australia business relationship.

    Crucial to this endeavour is the generous support of sponsors such as Air Canada, RBC Capital Markets, Bombardier, Altus Page Kirkland, KPMG, CAE, Stikeman Elliott, Worley Parsons, and PriceWaterhouseCoopers . This support makes it possible for CACC to offer outstanding speakers at a fraction of the cost commercial event organisations might charge.

    Membership in CACC is open to all corporations, public sector bodies, educational institutions and other organisations who share our interest in promoting the development and expansion of bilateral trade, investment and commerce. But there are also membership opportunities for individuals looking to expand their own personal business networks. At just $220, Gold Membership provides ‘front of the queue’ access to networking functions as well as bigger speaker events throughout the year. And for those who simply wish to keep in touch with what’s going on, there is a ‘CACC Supporter’ category. Member to member benefits include special deals on airfares and accommodation.

    A recent coup was attracting Jack Cowin, founder of Hungry Jack’s and a distinguished Canadian/Australian, as a patron of the Chamber.  Since opening his first store in a suburb of Perth in 1971 after emigrating to Australia from Canada, Mr. Cowin has come to preside over a franchise empire boasting more than 340 locations across Australia.  As a patron of CACC, Mr. Cowin will provide valuable guidance to the Board and the benefit of one of our countries’ most astute business minds.

    The CACC Board itself has recently undergone significant renewal, with the appointment of several new directors who bring a wealth of business and not for profit organisation management skills to the organisation. New faces include Ross Campbell, the co-founder of the MBO Group, a boutique advisory firm specialising in assisting private companies. Mike McGrath is a Managing Partner, Clients, Industries and Markets with PricewaterhouseCoopers and is based in Melbourne. Scott McClellan, former CEO of the Australian Association of National Advertisers, runs an association management consultancy based in Sydney, and Brian Hansen is managing partner of Stikeman Elliott Sydney.

    Longer-serving directors include: Dominic Hudson, Managing Director of RBC Capital Markets Asia Pacific; Nathan Seidl, a political consultant and airline pilot based in Sydney; Greg McNab, a Partner in Baker & McKenzie based in Toronto; and Executive Director John Secker, former Country Head of the Royal Bank of Canada for Australia and New Zealand and is based in Sydney. A key figure in the founding of the Chamber was Richard Kohler, Governor Emeritus, a specialist in trade and economic issues who spent more than three decades serving in Canada’s Foreign Service, including in Sydney.

    Over the years, CACC has forged a close relationship with the Australian Trade Commission (Austrade), the agency tasked with helping Australian business succeed in overseas markets. Austrade has identified several areas of mutual interest for Australia and Canada to pursue. These include biotechnology, resources, finance, IT, education, and agriculture. This information helps CACC plan its events and other activities in the knowledge that its work is closely aligned with government and business priorities. Chamber supporters can expect the events program in the coming year to leverage these sectors for topics and guest speakers.

    CACC also cultivates its network of important contacts in government. The Chamber has a practice of extends Honorary Gold Memberships to senior Canadian and Australian government officials who are actively engaged with promoting trade and investment flows between the two countries. The Canadian Consul General in Sydney enjoys such a membership as do the Canadian High Commissioner to Australia and the Australian High Commissioner to Canada, as well as the Australian Senior Trade Commissioner in Toronto.

    The Chamber is also an enthusiastic supporter of the Australian Canadian Economic Leadership Forum, a gathering of business and political leaders of our two countries that has occurred every two years since 2010. The 2014 Forum in Melbourne featured topics including: the global economy and finance; international trade; foreign direct investment; infrastructure development; arts, culture and business; security issues in Asia Pacific; and innovation and opportunities in the mining and energy sectors. Forum Co-Chairs, Thomas d’Aquino and Heather Ridout, along with the Organising Committee, created an exciting program with 49 distinguished private and public sector leaders for a dynamic and interactive exchange of ideas and experiences. The final communique read, in part:

    “A recurring theme at the conference, coming as it did after the G-20 meeting, was the challenge of stimulating more economic growth in the two countries and in the world economy. A particular challenge for Australia and Canada in this context is that governments are either running deficits or have barely balanced the budget whereas the private sectors have a great deal of money that is not yet being invested. The fiscal challenge facing both countries occurs as populations are aging, with implications for higher health-care costs and fewer people in the workforce. Therefore, speakers emphasized that governments needed to keep taxes low, and preferably to lower them, and to find other ways of stimulating private sector investment. These include securing bilateral trade agreements, such as Australia has recently accomplished with Korea and Canada with the European Union. Additionally, economic growth would be helped by pushing multilateral trade agreements to successful conclusions, such as the Trans-Pacific Partnership in which Australia and Canada are both participants. No participants seemed optimistic about early progress in the Doha Round of multilateral trade negotiations.”  

    The next Forum is planned for Canada the summer of 2015.

    There is plenty of room for optimism about the future of commercial ties. Canada’s Exporter Registry shows that the number of companies exporting to Australia grew from 2,161 in 2003 to over 3000 in 2013 with Austrade reporting about 2,000 companies trading in the direction of Canada.

    As Mr. Abbott has said: “Australians and Canadians should be more conscious not only of all that we have in common but of all the good that we might do together. So, my intention is to broaden and deepen the relationship between our two kindred countries. Just as my office rescued the Vimy Ridge painting from a public service storeroom where it had been languishing until just a couple of months ago!”

  • 11 Sep 2014 8:59 AM | Anonymous member (Administrator)

     

    SNC-Lavalin is our latest Corporate Sponsorship

     

  • 02 Sep 2014 8:23 AM | Anonymous member (Administrator)

     

    CACC welcomes PwC Australia

    PwC Australia takes up a Corporate Sponsorship

     

  • 29 Aug 2014 4:47 PM | Anonymous member (Administrator)

     

    Jack Cowin becomes CACC Patron

    CACC is proud to announce that distinguished Canadian

    Australian businessman Jack Cowin has agreed to become

     the Chamber’s Patron.

    .

     

  • 29 Aug 2014 4:43 PM | Anonymous member (Administrator)

     

    CACC welcomes Altus Page Kirkland

    Altus Page Kirkland is the latest Canadian company to become Corporate Member

     

  • 28 Aug 2014 7:59 AM | Anonymous member (Administrator)

     

    CACC appoints new Chair to Queensland Chapter

    Canadian Garnet Radford, of the Logan Office of Economic Development, assumes the Chair of the CACC’s Queensland Chapter.

     

     

  • 28 Aug 2014 7:44 AM | Anonymous member (Administrator)

    New Director and Chapter Chair for Melbourne 

    Melbourne based PwC partner Mike McGrath joins the CACC board

     and is appointed Chair of the Melbourne Chapter

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