Australia's 3rd Largest Economy

Member News

  • 23-May-2019 16:27 | Lisa Docherty (Administrator)

    From the beginning of July 2019 the financial thresholds for categorising a “large proprietary company” will be significantly increased. This in turn will increase the number of companies exempted from the requirement to make accurate financial statements publically available through the Australian Securities & Investments Commission (ASIC).

    The changes are summarised in this table:

      Current Post 1 July 2019
    Annual consolidated revenue for the company and any entities it controls (control being determined based upon the accounting standards) $25 million $50 million
    Value of consolidated gross assets at the end of each financial year $12.5 million $25 million
    Employees of the company and any entities it controls 50 employees 100 employees

    As with most legislative reform, there are positives and negatives.

    The Federal Government estimates that the changes will reduce the cost of regulatory compliance by about $80 million per annum for approximately 2,200 businesses.

    However, credit providers are concerned that without access to accurate financial information, costs for access to credit will increase. Concerns have also been expressed that a relaxation of the discipline involved with a regular reporting of financial position to ASIC will lead to an increased incidence of corporate insolvency and insolvent trading.

    The amendments are contained in the Corporations Regulations 2001 and will become operable on 1 July 2019.

    Debt recovery newsletter now available

    Matthews Folbigg are pleased to announce that the latest edition of their debt recovery newsletter is now available. A copy of the newsletter, containing a host of practical debt recovery tips, may be accessed here.

    If you require any further details or wish to discuss these issues with one of their specialist lawyers, please do not hesitate to contact Matthews Folbigg:

    Address: Level 7, 10-14 Smith St, Parramatta NSW 2150
    Phone: (02) 9635 7966

  • 23-May-2019 15:55 | Lisa Docherty (Administrator)

    The City of Campbelltown is experiencing unprecedented growth. With this growth comes opportunity – to generate growth in investment, to create local jobs for local people, to transform the city into a dynamic, self-sustainable, liveable urban centre, where people and business want to be.

    To capitalise on this opportunity, Campbelltown City Council is developing and implementing a range of city-changing projects which will not only transform the city, but be a catalyst for economic and cultural investment and contribute to Campbelltown being a destination of choice to live, study, play and do business.

    Click here to view some of the exciting projects currently underway in Campbelltown and to find out more about their journey.

  • 23-May-2019 13:15 | Lisa Docherty (Administrator)

    Have you heard about the Jobs for NSW Western Sydney Investment Attraction Fund?

    It’s a $5 million fund aimed at supercharging fast-growing small to medium- sized enterprises (SMEs) driving the jobs of the future in Western Sydney. The fund helps grow new high-value knowledge-based jobs and investment in our region.

    Through the fund, Accelerating Growth Loans; Strategic Growth Loans and Loan Guarantees are available to eligible fast-growing businesses in Western Sydney.

    Scalable businesses, reaching a market beyond New South Wales and creating new jobs in our region are eligible to apply.

    Over the years, Jobs for NSW has helped kickstart businesses across the state. For example, Sydney startup VAPAR is transforming the way Australian councils and water utilities maintain their stormwater and sewerage assets, with a boost along the way from Jobs for NSW.

    If you want your business to be next apply now.

  • 20-May-2019 17:23 | Lisa Docherty (Administrator)

    By Michael Page

    The take-up and implementation of new technology, particularly automation, has directly impacted the productivity and success of Australian businesses of all sizes. On a people level, this evolution has also required a new standard of efficiency. In response, companies are undergoing significant business transformation.

    According to Heidi Duncan, former Finance Director at ALDI Stores Australia, whether organisations are going through a formal transformation or tackling the challenge as a business-as-usual piece, there are always opportunities to “get the best out of your people in order to make those efficiencies come to fruition”.

    “What I mean by business partnering is what we actually do within our teams, which involves challenging at the macro and the micro level,” Duncan said at a recent Michael Page Finance Business Transformations event held in Parramatta.

    “That requires understanding the overall outcome your team is there to achieve, and analyse whether it’s being effectively fulfilled.”

    Use the right language

    Also speaking at the Business Transformation event, Olga Fadeeva, General Manager Human Resources at Toyota Material Handling Australia recommended HR practitioners learn to communicate with the business’s multiple divisions in a way both parties understood.

    Fadeeva used the example of an organisation’s HR and finance functions needing to understand each other, and for HR’s value to be recognised.

    “Different functions use different language and terminology and it’s critical for HR people to understand, as many don’t know the language of finance, which means they struggle to articulate, for example, a proposal that will lead to sustainable performance,” she explained.

    “Very often, HR people underestimate that or neglect to recognise that outside of just human relations – we talk about amazing initiatives that we’re going to introduce via HR but the CFO and business leaders are looking at the cost of it.

    “So it needs to be presented in the language of cash flow – the initial costs of implementation and the return on investment.”

    RELATED: Why finance should be seen as a business partner

    Business Transformation: the new norm

    As much as a buzzword it may be, the current environment of continual business transformation is the reality of businesses today.

    “Organisations will continue to transform; there will be changes and there will be challenges,” Farhad Malegam, Western Sydney Finance Consultant at Michael Page said at the event.

    “If we take some of these principles, apply it and utilise it within our business networks, we will see even more success.”

    He said with technologies evolving, so are business models and the talent within those organisations.

    “The last two decades have shown businesses that refrain from change and adoption of new technologies would eventually die out or get acquired,” he warned.

    Commenting on the outlook for businesses and hiring talent in Western Sydney for 2019, Malegam said unemployment rates across NSW have been at their lowest level in over four decades so there has never been a better time to look for a new job.

    “Business partnering and analyses roles are in the highest demand. This is primarily driven by businesses optimising data analytics and big data and are harnessing the power of technology and data-driven decision making,” he revealed.

    If you're looking for your next role in Western Sydney, or need help with staffing, contact a Michael Page specialist today.

    RELATED: The Future of Human Resources: 8 drivers of change

  • 20-May-2019 17:00 | Lisa Docherty (Administrator)

    Growing up in Dubbo, Molly was your ordinary sporty, happy-go-lucky, 11-year-old girl. Following in her big sister, Maddison's, footsteps, she played representative netball, hockey and basketball. Living in country New South Wales, sport is a way of life, and Molly was kicking some amazing sporting goals.

    But during a trip Sydney to play netball, her leg was sore, her shin was hurting, and as the days went on it was obvious something wasn't right.

    On Molly’s twelfth birthday, it wasn't with her friends in her home town of Dubbo. She was hours away, in Sydney, and doctors from The Children’s Hospital Westmead were preparing to begin treatment for osteosarcoma: bone cancer.

    Over more than 10 months, she underwent surgery, and a total of 30 weeks of chemotherapy. During that time, Molly and her family had to make a new home, at Ronald McDonald House Westmead.

    Throughout the journey, the Croft family stayed close to Molly, supporting her, and also receiving support from the other families at the House, who understand how challenging a serious illness or injury can be.

    On the 9th of April, 2019, Molly had her last round of chemo, meaning her treatment protocol is done. More importantly, it means that Molly and her family are heading home to Dubbo.

    Molly and her family want to help raise funds for Ronald McDonald House Charities Greater Western Sydney and Pay it Forward to help families just like theirs.

    Your support means that other families like hers can also stay together during some of the toughest times imaginable.

    To donate, go to

  • 16-May-2019 18:54 | Lisa Docherty (Administrator)

    There has never been a better time to be a private company.

    Advances in technology have brought private businesses closer to their customers, globalisation has granted greater access to once remote markets, and a new generation of cutting-edge talent is bringing fresh thinking into strategy. However, market changes like cyber-attacks, trade tensions and geopolitical uncertainty can pose significant risks to growth.

    How are private companies and their leaders tackling these challenges? Learn how today’s private company business leaders are facing uncertainty with confidence in Deloitte’s latest global study.

  • 16-May-2019 18:27 | Lisa Docherty (Administrator)

    Enjoy BAR 30 & Bistro's Lunch on the Deck for only $19.90. Choose from a selection of signature mains, from a variety of fresh local producers.

    Available Monday to Friday from 12:00pm to 2:30pm, this great deal includes a glass of selected wine, beer or soft drink.

    PARKROYAL Parramatta would also like to offer WSBC Members and contacts the following special offer:

    Quote ‘WSBC’ upon booking and receive 10% off the total bill when dining for lunch at BAR30 and Bistro.

    Valid when dining before July 26th 2019. Monday-Friday only

    For reservations and enquiries, please contact the PARKROYAL Parramatta team on:

    P: 9685 0377


    Click here for further information

  • 13-May-2019 09:01 | Lisa Docherty (Administrator)

    7 things you need to check on every dubious email

    There was a time when fake emails were easy to spot. They usually announced a million dollar prize in a lottery we never entered or requested urgent access to your bank account on behalf of a long-lost relative. That’s no longer the case.

    Click here to read the full article.

    Macquarie has been providing Business Banking solutions for over 30 years and provides SME clients with tools and strategies to grow and develop their business. You can get regular updates by subscribing to the monthly newsletter, Strictly Business by visiting If you would like to find out more about how Macquarie can support you to take your business further, call Sam McCarthy at our Parramatta office on 0417 518 724 and be connected with one of our banking specialists.

    This information has been prepared by Macquarie Bank Limited ABN 46 008 583 542 AFSL and Australian Credit Licence 237502 (“Macquarie”) for general information purposes only. This information does not constitute advice. Opinions expressed are subject to change without notice. No member of Macquarie accepts any liability whatsoever for any direct, indirect, consequential or other loss arising from any use of this information.

  • 30-Apr-2019 09:30 | Lisa Docherty (Administrator)

    Special corporate offer for conferencing when you book your meeting at The William Inglis Hotel over the Winter months.

    Receive a complimentary coffee cart and barista for the duration of your event when you book a full day delegate package and hold your event prior to 30 September 2019. Valued at over $900 our delicious Will & Co coffee will keep your delegates buzzing throughout the day.

    Book the Day Delegate Package for only $75.00 per person and receive:

    - Complimentary Wi-Fi

    - Complimentary parking

    - Complimentary breakfast for single delegates staying overnight

    Keep yourself warm this Winter with a hot coffee or Herbal Tea.

    Click here for more information. 

  • 23-Apr-2019 17:20 | Lisa Docherty (Administrator)

    Book your Christmas celebrations with Events by ATC by 1 December 2019 to receive your choice of:

    • A Race Day Experience* – Table for four in either the Winning Post Restaurant at Rosehill Gardens or the Grandview Restaurant at Royal Randwick, including lunch and beverage package,
    • 2 x General Admission Race Day* tickets for each of your event attendees, or
    • 6 bottles of Möet & Chandon

    *Excludes Carnival race days

    Contact the Events by ATC team today for further information:

    P: 1300 729 668


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