Australia's 3rd Largest Economy

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  • 05-Mar-2014 09:16 | Deleted user

    Lord Mayor of Parramatta Cr John Chedid today welcomed the release of a white paper by PwC Australia which shows Parramatta has had higher economic growth than Sydney’s CBD.


    The new research found Parramatta recorded 1.6 per cent growth compared to 1.1 per cent last financial year for the Sydney CBD.


    “This result confirms Parramatta and Western Sydney’s place as an economic powerhouse, finding that growth in Western Sydney has outstripped that of Greater Sydney and the Sydney CBD for much of the past decade,” Cr Chedid said.


    “Our growth rate of 1.6 per cent and gross output of $7,610m is a strong result for Parramatta and the wider economy of the region,” he said.


    The research shows that Western Sydney’s economic growth outstripped the city centre for much of the past decade.


    The white paper, which takes a suburb-by-suburb view of the economy, found that economic growth in Australia is uneven with key drivers including population growth and transport infrastructure.


    “Parramatta’s population is forecast to grow by more than 40 per cent over the next two decades and Council is investing in key infrastructure to support this expansion,” Cr Chedid said.


    “I am continuing to lobby for government and private sector support for our much-needed Western Sydney light rail project which will provide even greater potential for future growth.


    “Work is already underway to complete a 12 km off-road pathway between Westmead and Meadowbank which will link key residential areas to the University of Western Sydney and Parramatta.”


    Parramatta was last week ranked as the state’s most liveable suburb by an Urban Development

    Institute of Australia (UDIA) report.


    With a population of more than two million people, Western Sydney is home to one in 10 Australians, while Parramatta is the busiest transport hub in NSW, outside of the Sydney CBD.


    PwC’s white paper can be downloaded here:



  • 06-Feb-2014 13:28 | Deleted user

    Book now for a romantic dinner for two this Valentine’s Day at TABLE:30 located in PARKROYAL Parramatta.

    Your taste buds will tingle the delicious seafood spread of Sydney Rock oysters, Australian Tiger prawns, Balmain Bugs and blue swimmer crabs, complemented with a variety  of enticing dishes and a complimentary glass of bubbles.

    Normally $79.00 per person but for all WSBC members we would like to extend an offer of $69.00 per person.

    For bookings please contact us on 02 9689 3333 and mention WSBC.

  • 28-Jan-2014 13:27 | Deleted user

    WSBC is proud to support Penrith Valley Chamber of Commerce and Platinum Partner, Penrith Panthers, in their 6th Series launch of the Panthers sponsored Business Matters Luncheon. The event to be held at Panthers on February 28 is open to WSBC members at a special rate of $100 a ticket.

    Speaking at the lunch will be the man ensuring the greater western region has a loud, coherent voice at Cabinet. Popular Member for Penrith Stuart Ayres MP, and now newly appointed Minister for Fair Trading and Minister Assisting the Premier on Western Sydney, can fire us up with the facts on how his government plans to deliver the priorities enabling sustainable business growth across the region.

    To book your tickets for this event and to hear what is on the Cabinet table for the West simply follow this link. RSVP a must by 24 February.

    For further enquiries please contact Tania at PVCC or on 02 4722 6969.

  • 23-Jan-2014 13:25 | Deleted user

    Smart Work Hub Pilot Program

    The NSW Government is currently inviting expressions of interest from organisations or consortia that are in a strong position to establish and operate pilot Smart Work Hubs. 

    A 'Smart Work Hub' is a facility or space which offers workers an alternative to either working in their normal place of work or working from home. 

    Smart Work Hubs are distinct from a serviced office in that they aim to offer workers an alternative office space close to their home residence, and provide space for workers from different organisations which allow users to connect with each other.

    The pilot projects will explore how modern management practices and innovative work cultures can help grow knowledge based industries, support flexible work practices and offer commuters an alternative work location closer to home.

    Financial assistance will be made available to successful applicants or consortia to establish and operate a pilot Smart Work Hub, to be determined by a two-stage competitive public process.

    The Smart Work Hub Pilot Program will prioritise funding for Smart Work Hubs located within the Western Sydney and the Central Coast regions due to the potential benefits to large commuter populations.

    For more information on the program and competitive public process, please follow this link and download the two documents.

    Applications close 9.00 am Tuesday, 28 January 2014.

    Questions regarding the Expression of Interest (EOI) documents will be responded to by the contact officer in writing until 5pm Friday 24 January 2014.

    For urgent enquiries after this time please call 0409 211 659.

    The Smart Work Hub Pilot Program is an initiative under the NSW Economic Development Framework. 

  • 23-Jan-2014 13:23 | Deleted user

    The second North West Rail Link Business Connect Forum will be held on 31 January, 2014.

    This forum, hosted by tunnel builders Thiess John Holland Dragados (TJHD), will focus on what is happening on and around the construction sites at the new Bella Vista and Norwest railway stations.  The forum will outline changes to traffic and pedestrian access when Brookhollow Avenue closes from 7 February for about four months.

    Forum Details:

    Friday 31 January 2014
    The new Hills Shire Council Chambers, 3 Columbia Court, Norwest Business Park.

    To confirm your attendance, please contact by Monday, 29 January.

    The North West Rail Link is Australia's largest public transport infrastructure project and a priority rail project for the NSW Government.  TJHD has been contracted to build the 15km twin tunnels and civil works for five of the eight new stations and two services facilities.

    Engaging effectively and proactively with businesses across the Hills district is a priority for TJHD.  If you are unable to attend but would like more information about planned works at Bella Vista and Norwest or across the broader project, please visit or call 1800 019 989. 

  • 22-Jan-2014 13:12 | Deleted user

    Outstanding client feedback has won WSBC Platinum Partner, Moore Stephens a place as a finalist in the BRW Client Choice Awards.

    This year’s finalists were selected by more than 42,000 respondents from a pool of 87 professional consulting firms, 38 of which fell into the government and community category.

    As one of four finalists in the category, ‘Best provider to the government and community sector,’ Moore Stephens Not for Profit sector has been ranked ahead of any of the big four professional consulting firms.

    Marco Carlei says, “This industry-driven accolade is tangible proof that Moore Stephens is achieving its vision to be a leading mid-tier financial advisory services firm and first choice in our target markets.

    “We have been a finalist twice in the past three years, which clearly shows we’re on the rise when it comes to the important job of fulfilling client expectation, but still a way to go to reach consistent results.”

    The BRW Client Choice Awards are compiled in conjunction with leading professional services consulting group Beaton Research + Consulting.

    Now in its 11th year, Australia’s most prestigious professional service awards are a shining symbol of client service excellence.

    Mel Anderson, director of Benchmarks at Beaton Research + Consulting, says, “The Client Choice Awards are unique in that, unlike most other awards programs, they are not based on carefully constructed submissions from firms designed to highlight their best – and hide the worst aspects of their performance.

    “Rather the Client Choice Awards are judged on the basis of feedback provided directly and independently by clients who have used the firms in the last 12 months. This method of judging gives the Client Choice Awards their great credibility; more than any others for professional services firms. What better way to judge client service excellence than to directly ask those who have experienced it?”

    The winners of this year’s Client Choice Awards will be announced at a cocktail function in Sydney on Wednesday 19 February. Coverage of the winners will be run by BRW and the Australian Financial Review online and in print in the Financial Review and other Fairfax media.

  • 16-Jan-2014 13:02 | Deleted user

    Are you aware of the new rules and regulations regarding Australia's "transfer pricing rules" and more importantly the consequences to your business of getting it wrong? These refer to the prices charges between related parties for goods and/or services where the parties are operating in different countries and will impact on your level of profits and therefore the amount of tax you will have to pay in the respective countries. 

    Our Platinum Partner, Moore Stephens Sydney West, in conjunction with ANZ would like to invite you to a free seminar to explain the new rules and regulations. Full details are listed below including booking instructions.

    To whet your appetite you may wish to read the attached article on 'Australia's Transfer Pricing Maze' written by Stuart Edwards.


    Transfer Pricing Reform - A new world order…

    Seminar Details:

    Date: 13th February 2014

    Time: 7.00am registration for 7.30am start
    seminar concludes at 9.30am.
    Venue: Park Royal Parramatta, 30 Phillip Street, Parramatta NSW 2150
    RSVP: 6th February 2014 to Moore Stephens Sydney West on 02 9890 1111 or email

    How can the seminar benefit your business or client base? 
    Does your company have transactions with overseas related parties?
    Are you the Public Officer or involved in the management of the company?

    If you answer 'yes' to these questions, you may wish to attend our seminar to better understand your obligations and the key issues arising from the shifting transfer pricing landscape.

    Michael O’Neil, Assistant Deputy Commissioner (Profit Shifting Practice) of the Australian Taxation Office along with Stuart Edwards and the transfer pricing team at Moore Stephens will take you through the key issues that are going to affect you, including a consideration of:

    §  The key changes to Australia’s new “self-assessment” transfer pricing regime

    §  The increased documentation requirements including:

    §  The practical implications of the changes

    §  Risk-management approaches to compliance

    §  The Global transfer pricing stage – what’s happening and possible implications

    §  The ATO transfer pricing compliance focus and matter for your consideration.

    We would be delighted if you are able to join us for the seminar. In the meantime, please contact one of our Transfer Pricing Team members for an obligation-free discussion about your issues or concerns.

    Kind Regards,

    Marlon Fraser, Partner



  • 06-Jan-2014 12:55 | Deleted user



    Applications close 5pm Friday 28 February 2014

    The Textile, Clothing and Footwear (TCF) Small Business Program offers grants of up to $50,000 for projects to improve the business enterprise culture of small businesses manufacturing textiles, clothing or footwear in Australia, or designing for manufacture in Australia.

    AusIndustry invites applications from established small businesses or consortiums, who have not received grants from other TCF programs, for projects to be undertaken in 2014/15.

    Up to $2.5 million funding is available,
    to eligible small businesses.

    Applicants must:


    §  have fewer than 20 employees

    §  undertake eligible textile, clothing and footwear activities

    §  make a minimum cash contribution of 25% of proposed budget

    §  have a turnover of at least $100,000, and must be solvent and not under any administrative arrangements.

    For an application to be competitive, the project should be designed to support an improvement in business systems, production processes and/or management strategies, to make it more creative, sustainable and internationally competitive.

    Refer to the Customer Information Guide for advice on writing a competitive application. Projects should be up to 12 months in duration, commencing from July 2014.

    AusIndustry will conduct workshops nationally commencing 28 January 2014, focused on how to write a competitive application.

    For more information visit our website at and follow the links to the TCF Small Business Program. To obtain the word-fillable application form, phone the AusIndustry hotline on 13 28 46 or email





















  • 11-Dec-2013 12:51 | Deleted user

    The NSW Government has released its 2014 priorities for industry growth under the NSW Economic Development Framework.

    34 actions have been prioritised for delivery with industry in 2014 including targeted initiatives for key NSW industry sectors, regional NSW and Western Sydney.

    A key initiative includes $1.5 million to roll-out Smart Work Hub (teleworking) pilots on the Central Coast and Western Sydney.

    Expressions of interest are now open for organisations and consortia in a strong position to establish and operate pilot Smart Work Hubs. 

    Applications close 9.00am on Tuesday, 28 January 2014.

    For more information on this and other 2014 priority actions, visit

  • 11-Dec-2013 12:49 | Deleted user

    Australia’s official interest rates appear to be at, or very close to, the bottom of their cycle. 

    It would take a slump in economic activity well beyond the weakness currently forecast by the Reserve Bank of Australia (RBA) for the RBA to cut its cash rate again. The RBA expects the economy to grow 2-3% in 2014 after growth of around 2.5% in 2013. 

    Such growth rates are not spectacular. The best of the mining construction boom appears to be behind us and the manufacturing sector is still battling against a relatively strong Australian dollar (AUD). But at least they are positive. 

    The RBA has cut its cash rate from 4.75% in October 2011 to 2.50% at present. This decline in the cash rate has seen mortgage rates and other short term variable rates decline. 

    These lower interest rates are finally stimulating demand in the housing sector and have also helped lift the sharemarket as investors seek better returns. 

    Of interest to both businesses and investors are fixed-term interest rates. These are less influenced by the RBA and more influenced by global events. It is highly probable that these rates have also seen their low point. You may have noticed that fixed rates in the 3-5 year range have drifted a little higher in recent months. 

    It would be fair to say that the policies of the United States of America have kept longer term yields in the US, and around the world, lower than they might otherwise have been. The US is effectively ‘printing money’ with the aim of keeping interest rates low in order to stimulate its economy. But it is ‘printing’ so much money that it is affecting interest rates around the world. 

    The reason fixed term interest rates have drifted up is because the US, and the rest of the world, is coming to the realisation that at some stage, the US must reduce the pace at which it ‘prints’ money. As this happens, longer term interest rates will most likely begin to rise. 

    The big question is when this will occur. Many thought it would happen in September but as it turned out, the US Federal Reserve felt that the US economy still required further stimulus. The focus has now turned to March 2014. 

    Whatever the precise timing, it appears that both variable and fixed interest rates are at, or very close to, their lows for this cycle. We expect the RBA will think about lifting its record-low cash rate, late in 2014 or early in 2015. The slower the economic recovery in Australia, the slower the rise in the RBA’s cash rate. 

    The same applies fixed rates, except here the focus is on the US economic recovery. If the US economy can create 200,000 jobs or more per month in early 2014 then its seems probable that 3-5 year fixed rates will move higher. 

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