‘A week is a long time in politics’ certainly holds true in the run-up to the Federal Budget with the ‘is it on or is it off?’ dance surrounding an Australian form of diverted profits tax.
Even if there is no announcement regarding a diverted profits tax next Tuesday, the OECD is due to issue its next instalment on an expanded definition of permanent establishment (Action 7) within a few days of the Budget – and either way, diverted profits and permanent establishment issues will remain topical.
With Budget night approaching, how else have the goal posts moved and what are we now expecting to hear?
“With Budget night approaching, how else have the goal posts moved and what are we now expecting to hear?”
Australia is in the decade of disruption. Industries and markets are changing faster than companies can adapt, leaving many under pressure despite strong balance sheets.
In this environment, a fast and effective turnaround isn’t straightforward.
Synthesised from more than 20 successful turnarounds, here are 10 tips to get faster results, saving you time and money when it really matters.
“Most turnarounds focus on the short term, but the best turnarounds also have a destination, a vision and a narrative.”
After spending 100 hours on the third floor of Deloitte’s Sydney office with the Corporate Affairs and Communications team, I can genuinely say their people know how to be playful, yet serious, about their work.
Every person I’ve had the pleasure of meeting has been insightful, donating their time to explain how I can approach my tasks most effectively, while also educating me about communications in general, and Deloitte as a firm.
Throughout my internship, I’ve not only had the opportunity to help increase Deloitte’s eminence, but to increase my own. Forging relationships, as well as having my writing published on their intranet, has demonstrated that despite my time at Deloitte being brief, I have still been able to ‘aim to be famous’.
“The trust placed in me, and my work, was incredibly empowering.”
With a number of high profile corporate corruption matters hitting the media in recent weeks, the risks around preventing, or even managing, an incident should, once again, be top of mind.
For Australian corporates the possibility for reputational damage, revenue and share price pain, loss of market opportunities, severe penalties and greater regulatory scrutiny is greater than ever as regulators and enforcement agencies – here and overseas – build momentum and increasingly work together on investigations and prosecutions.
“In blunt terms, domestic and offshore corruption risk is very real and very complex, and anyone who believes that these risks and repercussions are not an important issue is seriously mistaken.”
Deloitte recently supported the release by US based not-for-profit Social Progress Imperative of its latest global Social Progress Index (SPI), which tracks human wellbeing and national prosperity beyond just the familiar economic measure of GDP.
The 2015 results rank Australia as the world’s 10th most socially advanced nation (out of 133). Norway is this year’s top performer, followed by Sweden, Switzerland, Iceland and New Zealand. Australia ranks just ahead of the UK (11th), and comfortably ahead of the United States (16th).
“The index also reveals that social progress is not necessarily tied to GDP per capita, with closely ranked nations varying substantially in economic measures. “
Yes, it’s that time of year already. The next Federal Budget is fast approaching, albeit with the unusual situation of some of last year’s more controversial announcements still being held up in the Senate.
There is no doubt the Government’s second Budget is a critical juncture for the Prime Minister and the Treasurer, both in terms of their economic management credibility and their popularity in the polls.
“The messaging coming from the Government is that the Budget will need to be mildly contractionary to continue a long-term path back to a surplus, but it will also need to complement monetary policy. “
Australia faces challenges when it comes to achieving meaningful growth in living standards going forward. This is partly because of our demographic destiny, partly because we can’t rely on another Chinese industrial boom, and partly because we’re already running precariously high levels of household debt.
Sustained productivity growth is the key to delivering on living standards, and an important component of the productivity agenda could come from re-igniting competition (as detailed in the recent Harper Competition Review), as well as from the recent energy white paper and the forthcoming review into the Australian Federation.
“Shifting the balance from direct to indirect taxes could provide an efficiency dividend to the economy, which would help contribute to rising living standards.”
This week I was giving a conference presentation. I give these a lot. As usual, the MC introduced me to the audience by reading out my bio and stumbling over the standard description that comes after my name: “Partner, Human Capital, Deloitte”. Not the Partner bit, or the Deloitte bit, but the “Human Capital” bit.
Again as is often the case, there was an awkward pause, the obvious processing of information that didn’t make immediate sense, and then the decision to ignore it and move on. Every now and again however MCs don’t move on, stop dead in their tracks and ask a question along the lines of “what the heck is “human capital”? Recently one went even further and asked me, “How do you like being called a piece of human capital?” as if I had just been insulted.
“At the moment HR is not fully set up for success, it’s still more of an administrative function than a strategic advisory.”
After a few relatively lean post-GFC years on the Initial Public Offering (IPO) front, 2014 provided a real bounce back for Australian public listings.
On the back of this, we were interested in developing a holistic view of the market. Working with M&A intelligence and analysis service Mergermarket, we have looked at the year past but, more importantly, at market conditions expected to influence activity in the year just begun.
‘With $26 billion in equity listed through 74 floats, 2014 was truly a banner year for Australian IPOs.’
Oh, how data has always been important to marketers!
It is an idea whose time has come…
Forbes’ report on the new marketing organisation shows the problem at length and the opportunity it presents. As Stephanie Miller writes, “Data is like air for marketers…” It’s everywhere and in everything – server logs, web content, satellite data, scans, transactions, social media, videos, telemetry, audio files, and so much more.
Yet modern technology makes the customer journey non-linear, meaning data connections are harder. Marketers have more data than they can possibly utilise in a timely manner, particularly in the fast-paced environs where they are expected to dynamically stream and re-purpose the data, on-the-fly and in as close to real-time as possible.
‘The complete stack of data driven marketing is what reveals the highest quality insights.’