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Why Millennials will rule the workplace of the future

Posted on May 15, 2016

Australian businesses need to rethink their retention strategies for Millennial workers – or risk losing a large percentage of their workforce.

Those born after 1982 will comprise 75% of the global workforce by 2025*, and they’re not keen on pledging allegiance to organisations that don’t value what they do. In fact, data reveals personal values have the greatest influence on a Millennial’s decision-making. Read More

Lack of climate policy in Budget leaves economy open to shock

Posted on May 8, 2016

Climate funding cuts and uncertainties dominate in a Budget that ignores the fact that if we do not invest in strong, effective action to reduce emissions now, it will simply cost us much more in the not too distant future. The consequences of ongoing failure to tackle climate change will be escalating energy, unemployment and other economic costs over the next few decades.

There is no extra funding for the government’s current principal policy tool the $2.55 billion Emission Reduction Fund now likely to be expended by the end of 2016 well before the policy review in 2017, threatening jobs and growth in the carbon farming and other emission reduction industries.

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Why you need a social media policy to protect your business

Posted on May 1, 2016

In a recent decision of the Fair Work Commission, an employer was ordered to reinstate an employee who had been dismissed for comments he posted on social media sites outside work hours.

The employer (the Department of Human Services) dismissed the employee from his position as a Centrelink officer for posting on social media sites, a number of negative, inappropriate and offensive posts about the government, the department and its employees and customers over a period of almost three years.

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Blockchain technology – is it too good to be true?

Posted on Apr 24, 2016

Blockchain has become a marketing buzzword making it impossible to talk about the technology. A more productive approach is to focus on the capabilities and problems.

Bitcoin and blockchain have triggered a new technological gold rush. If we’re to believe the hype, there’s no problem that can’t be solved by putting it ‘on the blockchain’. Proposals are flooding the market: from blockchain-enabled payments, through to identity management solutions, and Amazon and Uber killers – all powered by blockchain. It all sounds too good to be true, much like cloud computing did in its early days.

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Darwin port sale leads to FIRB rule changes for critical state-owned assets

Posted on Apr 17, 2016

The Foreign Investment Review Board (FIRB) has been charged with the review and assessment of any proposal by private foreign investors to acquire critical state-owned infrastructure assets.

This was in reaction to the national and international concern raised over the Northern Territory Government’s 2015 decision to offer a century-long lease of the port of Darwin to a Chinese private company without Australian Federal Government approval.

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What’s the value of private equity to Australia’s economy?

Posted on Apr 11, 2016

The Federal Parliament’s decision to initiate a Senate Economics References Committee inquiry into the collapse of listed retailers provides a unique opportunity for the community to better understand the important role that private equity plays within our economy.

Private equity contributes capital to Australian businesses across a broad spectrum of industries in our economy. These range from small family businesses, to large enterprises looking to restructure and expand.

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BDO reveals 3 key steps to avoid international tax losses

Posted on Apr 3, 2016

Are you utilising offshore taxation losses?

Most tax payers are familiar with the benefit of using their tax losses to offset their tax payable. Surprisingly though, there is a remarkable number of companies that lose sight of this concept when managing their tax obligations across borders.

Regardless of the size of an Australian company’s footprint overseas, chances are many untapped opportunities for greater tax efficiencies exist. The best way to unearth them is through a structured and tailored approach to international tax planning.

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HWL Ebsworth advises what to do when clients get aggressive

Posted on Mar 27, 2016

The old adage of the client is always right will not apply when clients engage in aggression in the workplace.

Aggression towards employees can occur in any workplace and in any line of work.

Businesses increasingly have to manage client aggression incidents – raising both challenging personal and legal issues. Under work health and safety laws businesses should have in place plans to manage client aggression incidents where there is a risk of incidents arising and regularly review the effectiveness of the plan.

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KPMG’s Paul Howes sets out the consequences of legislating super

Posted on Mar 20, 2016

The most important and far-reaching developments often come in seemingly innocuous guises. This [month] saw one such event in the superannuation industry – one which could have a major influence on all aspects of the sector.

On the surface, a Government consultation paper with the aim of developing legislation to enshrine the objective of superannuation does not seem dramatic. But it could lead to super funds having to change their business models, operating processes and information systems.

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How cloud technology can dictate the future of cancer care, Goldman Sachs

Posted on Mar 13, 2016

At $US90 billion annually, the direct medical costs of cancer are among the highest of all conditions. However, rapid advances in cloud computing, next-gen DNA sequencing (NGS), and electronic medical records (EMR’s) are forming a powerful trifecta that could change the paradigm over the next decade.

It is feasible to assume that 20% of all new cancer patients in the US will receive genomic profiling by the year 2020. If cost curves play out as expected, it will cost $30 million annually to store all of this data. For the first time in history, physicians will soon have the ability to use genomic profiling for every cancer patient.

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