Media Releases

Extra details on crowd-sourced funding for small business

22 December 2015

The Minister for Small Business and Assistant Treasurer, the Hon Kelly O'Dwyer MP, today released draft regulations that provide additional detail to Australia's new crowd‑sourced equity funding (CSEF) framework. "CSEF is an emerging way for start-ups and early stage businesses to access the funding and investors they need," Minister O'Dwyer said.

Consultations on resilience and collateral protection and client money

22 December 2015

The Minister for Small Business and Assistant Treasurer, the Hon Kelly O’Dwyer MP, today released draft legislation and regulations for public consultation on resilience and collateral protection, and a policy paper on client monies. “This delivers on the Government’s commitment to create a resilient financial system and to facilitate participation of Australian entities in international […]

Streamlining business reporting with a single touch payroll

21 December 2015

The Minister for Small Business and Assistant Treasurer, the Hon Kelly O’Dwyer MP, today announced business reporting of tax and superannuation will be simplified with the implementation of Single Touch Payroll (STP). “Employers currently manually report Pay As You Go (PAYG) withholdings to the ATO,” Minister O’Dwyer said. “Under the new STP this information will […]

ASIC and Takeovers Panel reappointments

16 December 2015

The Minister for Small Business and Assistant Treasurer, the Hon Kelly O’Dwyer MP, today announced the reappointment of Mr Greg Tanzer as a full-time member of the Australian Securities and Investments Commission (ASIC). “Mr Tanzer has been a member of ASIC since 2012, and his position as Commissioner has been extended to 30 November 2016,” […]

Companies Auditors and Liquidators Disciplinary Board appointments

16 December 2015

The Minister for Small Business and Assistant Treasurer, the Hon Kelly O’Dwyer MP, today announced the new appointments and reappointments to the Companies Auditors and Liquidators Disciplinary Board (CALDB). Ms Maria McCrossin has been appointed the Chairperson of CALDB for three years. Ms Kerrie Howard and Ms Inge Kindermann have been appointed as part-time members […]

Implementation study on single business identifier

15 December 2015

The Minister for Small Business and Assistant Treasurer, the Hon Kelly O’Dwyer MP, announced an implementation study will be undertaken on the ‘single business identifier’. This measure was announced in the 2015-16 Budget’s Growing Jobs and Small Business Package, for Australian Company Numbers (ACNs) and Business Tax File Numbers (BFTNs) to be replaced with just […]

ARPC chair reappointed

14 December 2015

The Minister for Small Business and Assistant Treasurer, the Hon Kelly O’Dwyer MP, today announced the reappointment of Ms Joan Fitzpatrick as the part-time Chair of the Australian Reinsurance Pool Corporation (ARPC) for a further 18 months. Ms Fitzpatrick has been Chair of the ARPC Board since January 2013 and was previously a board member […]

Tax Practitioners Board Appointments

10 December 2015

The Minister for Small Business and Assistant Treasurer, the Hon Kelly O’Dwyer MP, today announced the appointment of five new members and the reappointment of the Chair and members to the Tax Practitioners Board (TPB). “The TPB is responsible for regulating the provision of tax agent services across all Australian States and Territories as provided […]

Common sense changes to superannuation to benefit Australians

10 December 2015

The Minister for Small Business and Assistant Treasurer the Hon Kelly O'Dwyer MP today released draft legislation to improve superannuation fund transparency and to extend choice of fund arrangements to more Australians. "The Turnbull Government is laying the foundations for a stronger superannuation system that better supports Australians," Minister O'Dwyer said. “The changes will ensure […]

Creating a culture of entrepreneurship and innovation

7 December 2015

The Turnbull Government’s National Innovation and Science Agenda (NISA) contains a number of significant reforms which will assist businesses by encouraging entrepreneurship and innovation, Minister for Small Business and Assistant Treasurer, the Hon Kelly O'Dwyer MP said. “This Government is aiming to make it easier for start-ups and small businesses to attract the funding and […]

More Motorcycle Helmets cleared to be sold in Australia

7 December 2015

The Minister for Small Business and Assistant Treasurer, the Hon Kelly O'Dwyer MP has removed an outdated mandatory standard that limited the range of motorcycle helmets available for sale by Australian retailers. Minister O'Dwyer said the Turnbull Government is ensuring Australian retailers can sell the helmets that are already legally allowed to be worn in […]

Raising professional standards of financial advisers

3 December 2015

The Turnbull Government has today released exposure draft legislation to give effect to reforms to raise education, training and ethical standards for financial advisers, Minister for Small Business and Assistant Treasurer, the Hon Kelly O'Dwyer MP said. “These reforms, recently announced in the Government’s response to the Financial System Inquiry, have widespread support across industry […]

Improvements to the Life Insurance Industry

3 December 2015

Exposure draft legislation has been released publicly today to give effect to an industry reform package which will improve the remuneration arrangements in the life insurance advice sector, Minister for Small Business and Assistant Treasurer, the Hon Kelly O'Dwyer MP said. "This package will ensure that the interests of financial firms and consumers are better […]

Legislation to strengthen liquidator regulation

3 December 2015

The Turnbull Government has today introduced the Insolvency Law Reform Bill into the Parliament to strengthen and streamline Australia's personal bankruptcy and corporate insolvency regimes, Minister for Small Business and Assistant Treasurer, the Hon Kelly O'Dwyer MP said. "The Bill is the first tranche of reforms to modernise Australia's insolvency and corporate reorganisation framework. As […]

Enabling crowd-sourced funding for small business

3 December 2015

Legislation has been introduced into Parliament today to provide a framework for crowd-sourced equity funding (CSEF), encouraging Australians to innovate and invest, Minister for Small Business and Assistant Treasurer the Hon Kelly O’Dwyer said. “Today’s announcement is a key priority of the Turnbull Government’s National Innovation and Science Agenda,” Minister O’Dwyer said. “CSEF or crowd […]

Parliament passes key tax improvements

25 November 2015

The Turnbull Government has continued its commitment to fairness and sustainability in Australia’s tax system with the passage of the Tax and Superannuation Laws Amendment (2015 Measures No. 5) Bill 2015 through Parliament today, Minister for Small Business and Assistant Treasurer, the Hon Kelly O'Dwyer MP said. “These changes include three measures from this year’s […]

Minister for Small Business welcomes Government’s response to the Harper Review

24 November 2015

The Minister for Small Business and Assistant Treasurer, the Hon Kelly O'Dwyer MP, today welcomed the Government's response to the Competition Policy Review, chaired by Professor Ian Harper (the Harper Review). "The Government's response to the Harper Review supports recommendations that are relevant to a wide range of small businesses," Minister O'Dwyer said. The recommendations […]

FOFA Bill passes the Senate

24 November 2015

The Senate has passed the Corporations Amendment (Financial Advice Measures) Bill with bipartisan support, Minister for Small Business and Assistant Treasurer, the Hon Kelly O'Dwyer MP said. "The Bill includes an extension of the timeframe for advisers to send renewal opt-in notices and fee disclosure statements to retail clients from 30 to 60 days," Minister […]

Financial Market Infrastructure resolution and the licensing of overseas Financial Market Infrastructure reports welcomed

23 November 2015

The Turnbull Government welcomes the release of the Council of Financial Regulators' (CFR) reports on Financial Market Infrastructure (FMI) resolution and the licensing of overseas FMI, Minister for Small Business and Assistant Treasurer, the Hon Kelly O'Dwyer MP said. "A key part of the Government's agenda for improving our financial system is aimed at strengthening […]

New opportunities on the horizon for SMEs

11 November 2015

Small and medium enterprises (SMEs) will soon find it easier to enter new markets and build business and trade links following an APEC workshop in Sydney. The workshop, which was attended by representatives from 15 APEC economies on 4–5 November, produced several recommendations to support SME trade, business connectivity, trade and innovation in the Asia-Pacific […]

Government announces significant improvements to life insurance industry

6 November 2015

Today, I am pleased to announce that industry has come together to reach consensus on the implementation of important improvements to the remuneration arrangements in the life insurance advice sector. As announced in the Government's response to the Financial System Inquiry (FSI), we are committed to better aligning the interests of financial firms and consumers. […]

Australia hosts APEC workshop to promote SMES and innovation

4 November 2015

Small and medium enterprises (SMEs) are at the forefront of services exports growth and the Australian Government is committed to supporting SMEs to thrive in an increasingly interconnected global economy. The Australian Government and Standards Australia are bringing together SME representatives, national standards bodies and government officials from APEC economies to share ideas, insights and […]

Consultations on free range eggs information standard – extension for written submissions

29 October 2015

Minister for Small Business and Assistant Treasurer the Hon Kelly O’Dwyer MP today announced an extension period for written submissions in response to the egg labelling consultation paper. “On 5 October 2015 I released the consultation paper exploring options to enhance consumer confidence and certainty around egg labelling,” Minister O’Dwyer said. “In June, the meeting […]

The economy of shopping small, op-ed published in The Australian

28 October 2015

Next to their home, for most families, their superannuation savings are their single greatest asset. How well their superannuation fund performs directly impacts on their retirement income. The Turnbull Government is creating the economic settings needed to help Australian businesses innovate, grow and create more jobs. We recognise that small business is the engine room […]

‘Superannuation – Questions of Fairness and Opportunity’, Op‑ed published in the Daily Telegraph

27 October 2015

Next to their home, for most families, their superannuation savings are their single greatest asset.  How well their superannuation fund performs directly impacts on their retirement income. That is why it is critical that everybody should be able to choose what is best for them and for their future. Currently around 2 million Australians have […]

Government response to the Financial System Inquiry

20 October 2015

Today we are pleased to release the Turnbull Coalition Government’s response to the Financial System Inquiry (FSI). The final report of the FSI, led by David Murray AO and released on December 7 last year, satisfied an election promise. The financial system affects all Australians. It plays a vital role across the Australian economy, contributing […]

Tax transparency bill passes Parliament

15 October 2015

The Coalition Government has ensured the taxation details of Australian-owned private companies will remain exempt from Labor’s public disclosure taxation rules, after the Senate passed the Tax and Superannuation Laws Amendment (Better Targeting the Income Tax Transparency Laws) Bill 2015 today. Minister for Small Business and Assistant Treasurer, the Hon Kelly O'Dwyer MP said the […]

Government multi-agency approach to fight serious financial crimes

14 October 2015

Serious financial crime has the potential to undermine the integrity of Australia’s economy and law enforcement activities and poses a significant threat to the Australian community, estimated to cost Australian taxpayers $15 billion every year. That is why the Australian Government committed $127.6 million over four years to fund a new Serious Financial Crime Taskforce […]

New small business protections from unfair contract terms

13 October 2015

Minister for Small Business and Assistant Treasurer, the Hon Kelly O'Dwyer MP, announced today that the Coalition Government is delivering one of its key election commitments to extend consumer unfair contract term protections to small businesses. “Small businesses have often faced the same vulnerabilities as consumers and under this new change will receive protections when […]

Base erosion and profit shifting package

6 October 2015

It is self-evident that multinationals operating in Australia should pay tax on profits properly attributable to Australia. As a Government we are committed to having a fair and sustainable tax system that deserves the confidence of the community, and that supports economic growth. The Coalition Government is focussed on ensuring there is fairness and integrity […]

Consultation paper released for national standard on egg labelling

5 October 2015

Minister for Small Business and Assistant Treasurer the Hon Kelly O'Dwyer MP today released the consultation paper to consider options to enhance consumer confidence and certainty around egg labelling. "In June, the meeting of federal, state and territory Consumer Affairs Ministers agreed this consultation paper would be the first step in identifying what further action may be […]

APEC Issues Paper highlights the trade benefits of data flows

25 September 2015

An APEC data flows Issues Paper released today highlights the opportunities for increasing trade and opening up new markets for small and medium enterprises (SMEs). The paper entitled APEC Harmonisation of Standards for Data and Information Flows was prepared by Standards Australia under the guidance of the Australian Treasury. The Hon Kelly O’Dwyer MP, Minister […]

2016 Census to be held on 9 August 2016

9 August 2015

Parliamentary Secretary to the Treasurer, the Hon Kelly O’Dwyer MP, announced that the Administrator, on behalf of the Governor-General, has made the Proclamation that the 2016 Census of Population and Housing be held on Tuesday 9 August 2016. The 2016 Census will be the first predominantly digital Census – a significant milestone for Australia and […]

Report into National Agricultural Statistics Review released

30 July 2015

Minister for Agriculture, Barnaby Joyce, and Parliamentary Secretary to the Treasurer, Kelly O'Dwyer, today delivered on an election commitment, releasing the final report of the National Agricultural Statistics Review to better underpin the productivity, competitiveness and sustainability of the agriculture sector. Minister Joyce said the report was the culmination of more than two years' work […]

Centenary of Commonwealth lighthouses celebrated

3 July 2015

ONE hundred years of Commonwealth management of lighthouses will be celebrated this year with a stamp collection, two minted coins, lighthouse open days and a gathering of former commonwealth lighthouse keepers. Deputy Prime Minister and Minister for Infrastructure and Regional Development Warren Truss said Australia’s coastline is dotted by more than 300 lighthouses managed by […]

Magna Carta captured on antique rectangular coin for its 800th anniversary

14 June 2015

To mark the 800th anniversary of Magna Carta, in a Royal Australian Mint first, a meaningful section of the Great Charter has been etched forever onto a unique rectangular collectible fine silver coin and launched today at Australian Parliament House’s official Magna Carta celebrations. The coin features an intricate inscription in Latin, derived from the […]

Bowen confused, thinks two announcements constitutes a plan for Australia

10 May 2015

On ABC’s Insiders this morning, Chris Bowen claimed that the ALP had fully-costed plans for Australia:  “What we're doing is outlying alternative plans and we've done that from Opposition early in the term in a fully-costed and credible way.” (Source: Chris Bowen, ABC Insiders, 10 May 2015) This is fundamentally untrue. Labor’s plans are not […]

New investment to modernise the ABS

7 May 2015

Federal Treasurer Joe Hockey and Parliamentary Secretary to the Treasurer Kelly O’Dwyer today announced a major investment in the Australian Bureau of Statistics (ABS) to ensure the ABS is better positioned to meet the information needs of today’s dynamic economy and changing society.  In recognition of today’s changing information environment and the needs of government, […]

Symbolic red on new circulating coin marks centenary of the Gallipoli landing

19 April 2015

Just ahead of Anzac Day 2015, the Parliamentary Secretary to the Treasurer, the Hon Kelly O’Dwyer MP, announced that Australia’s newest coloured circulating coin will remember the Anzacs and enter public circulation from tomorrow. This circulating coin will be released as part of the Royal Australian Mint’s Official Anzac Centenary Coin Program where a collection […]

Two men sentenced in Australia’s largest insider trading case

17 March 2015

Two men were sentenced to jail terms of 7 years and 3 months, and 3 years and 3 months respectively in the Victorian Supreme Court today for their roles in Australia’s largest insider trading scheme totalling $7 million. The two men were charged in 2014 with insider trading, money laundering and abuse of public office […]

Speech to the Infrastructure Symposium – Local infrastructure is important

5 March 2015

Today at the Innovations in Infrastructure Symposium, the Hon Kelly O'Dwyer MP, Federal Member for Higgins and Parliamentary Secretary to the Treasurer, delivered a briefing on the new G20 Global Infrastructure Hub, including an overview of its structure and intended objectives, and how it relates to the broader G20 agenda and the Australian Government's infrastructure […]

Australia mints world history with new circulating coin for Cook Islands, Tonga & Vanuatu

4 March 2015

History was made today with three Pacific Island nations marking the introduction of their own brand new circulating coins at the official coin striking ceremony at the Royal Australian Mint (the Mint). With the Mint's assistance and expertise, Cook Islands, Tonga and Vanuatu have embarked on the important journey of coin reform, bringing each country's […]

Bill’s bungle: wrong about business confidence

5 February 2015

Bill Shorten keeps on getting it wrong about the state of the economy. This morning in his doorstop Bill Shorten tried to claim that business confidence was at all-time low. “We have business confidence at an all-time low.” (Source: Bill Shorten, Doorstop, Melbourne, 5 February 2015) He has been caught, yet again, getting it wrong […]

Yet more budget bungles from Bowen…

23 January 2015

Fresh from admitting earlier this week that Labor has secret plans for big spending cuts and big tax rises, Chris Bowen has added to Labor’s chaos and confusion by telling lies about Labor’s Budget legacy. In an interview on Sky News yesterday morning, Chris Bowen said that the Medicare system that Labor left was sustainable. […]