Media Releases

Australian Fintechs hit investment high

24 February 2017

An independent survey released this week shows that Australia has achieved world-leading growth in its FinTech industry. This offers proof that recent actions undertaken by the Turnbull Government to attract investment in innovative financial services technologies have been worthwhile. Investment in Australia’s FinTech industry hit a new high in 2016, with US$656 million invested across […]

Huge demand for record $11 billion bond issue

23 February 2017

Australia has locked in a record $11 billion government bond deal, reaffirming investor confidence in the long term prospects of the Australian economy. Australia’s largest ever syndicated bond issue attracted an estimated $20.9 billion in orders, meaning the bond attracted bids of almost twice the record amount that was ultimately issued. The Australian Office of Financial […]

Turnbull Government delivering $3 billion boost to responsibly fund the NDIS

13 February 2017

The Turnbull Government will commit $3 billion in funding to the National Disability Insurance Scheme (NDIS), taking an important step towards fully and responsibly paying for the scheme, which will transform the lives of around 460,000 Australians living with disability, their families and carers. Since coming to office, the Government has sought to bridge Labor’s […]

Labor has run out of excuses on business tax cuts as RBA governor exposes their threat to jobs

10 February 2017

Labor has run out of excuses to justify their hypocritical opposition to the Turnbull Government’s plans to drive more jobs and higher wages through lower business taxes, following the independent confirmation by RBA Governor Philip Lowe that reducing the burden of tax on employers will help employees and make Australia more internationally competitive. Bill Shorten […]

IMF praises Australia’s economic performance

10 February 2017

The International Monetary Fund’s (IMF) annual assessment of Australia’s economy and key policy settings has highlighted Australia’s strong economic performance. As noted by the IMF, Australia’s economic performance has been robust in comparison to other advanced economies, despite the unwinding of the mining investment boom. Growth has remained solid and unemployment has remained low considering […]

Turnbull Government continues crackdown on multinational tax avoiders

9 February 2017

Today the Turnbull Government introduced legislation into the Parliament to implement the new Diverted Profits Tax, which will prevent multinationals shifting profits made in Australia offshore to avoid paying tax. The Diverted Profits Tax will commence on 1 July 2017, and is expected to raise $100 million in revenue a year from 2018-19. It provides […]

Responsible budget savings to fund more affordable child care for Australian families

8 February 2017

The Turnbull Government will today introduce legislation to make the Australian child care system more affordable, flexible and accessible for Australian families, while implementing the necessary Budget savings to responsibly fund the reforms. The Social Services Legislation Amendment (Omnibus and Child Care Reform) Bill 2017 introduces the Turnbull Government’s Jobs for Families package, the most […]

Government forces foreign nationals to sell over $100m worth of illegally acquired Australian real estate

6 February 2017

Treasurer the Hon. Scott Morrison has ordered the forced sale of a further 15 Australian residential properties held by foreign nationals in breach of the foreign investment framework, taking the total number of forced sales to 61, with a combined value of $107 million. The 15 latest properties are located in Victoria and Queensland, with […]

Turnbull Government’s Enterprise Tax Plan to drive investment, jobs and wages

1 February 2017

The Turnbull Government’s ten year Enterprise Tax Plan will drive the business investment our nation needs to boost jobs and grow the wages of Australian workers in a globally competitive environment. Our current uncompetitive business tax rate will make it harder for Australian businesses to continue to attract the investment they need to expand, employ […]

Inquiry into Australia’s water resources

1 February 2017

The Turnbull Government has announced a Productivity Commission inquiry into the reform of Australia’s water resources sector. Reform of the water sector has been ongoing over several decades, reflecting the fundamental importance of water to our economy and the significant challenges involved in managing a shared natural resource often impacted by periods of scarcity. The […]

Social impact investing discussion paper released

28 January 2017

Today, the Turnbull Government is releasing a discussion paper on social impact investing and the development of the social impact investment market in Australia. The discussion paper sets out a proposed whole of government position on social impact investing for consultation, including the objectives the Commonwealth has for its role in social impact investing, principles […]

Keeping Australia’s critical infrastructure secure

23 January 2017

Today the Turnbull Government is launching a dedicated centre to manage the complex and evolving national security risks to Australia’s critical infrastructure. With increased privatisation, supply chain arrangements being outsourced and offshored, and the shift in our international investment profile, Australia’s national critical infrastructure is more exposed than ever to sabotage, espionage and coercion. We […]

Treasurer to meet with UK and European counterparts on financial sector innovation and housing affordability reforms

22 January 2017

This week I will be holding high level meetings with counterparts in the UK and Germany on the UK and European economies, assessing the progress and suitability of financial sector innovations and housing affordability reforms and promoting Australia's financial technology (FinTech) agenda at the G20 symposium on financial technology and digitalisation. Digitalisation is occurring rapidly […]

Review of the National Disability Insurance Scheme costs

20 January 2017

The Government has announced a Productivity Commission review into the National Disability Insurance Scheme costs consistent with the Heads of Agreements with the states and territories and the Commonwealth. This review is intended to inform the final design of the full scheme, prior to its commencement, by focussing on updating initial cost projections estimated by […]