Business and Finance

In a landmark development for Western Australia, the Federal Government has announced the establishment of the largest naval hub in the southern hemisphere at Henderson shipyard.   New Defence Precinct Announced for Henderson Over the next two decades, the consolidated Commonwealth-owned Defence Precinct at the Henderson shipyard in WA will generate tens of thousands of secure jobs in construction, submarine maintenance, and shipbuilding and establish a significant industrial pipeline for WA businesses.  With an initial investment of $127 million for planning and feasibility studies over three years, this work will shape the future delivery models and infrastructure needed to support the...

The AUKUS agreement offers Western Australian businesses a unique opportunity to expand beyond traditional sectors and access international markets with tariff-free trade privileges.   To help businesses seize these opportunities, the Australian government is rolling out several grants, funding and training programs, and equipment investment initiatives to upskill workforces and enhance operational capacity.  What is AUKUS? The AUKUS deal is a trilateral partnership involving Australia, the United Kingdom, and the United States primarily aimed at improving regional security and advancing military technology.  Beyond defence, AUKUS presents substantial opportunities for Australian businesses to integrate into the global supply chain, tapping into areas...

The AUKUS agreement represents a prime opportunity for Western Australian businesses, particularly those in the Rockingham/Kwinana area, to position themselves at the forefront of a transformative economic shift.   With billions of dollars in government investment on the horizon, local businesses stand to benefit significantly from integration into global supply chains.   This moment is critical for WA companies to diversify beyond traditional sectors and capitalise on access to overseas markets, all while enjoying tariff-free trade benefits.  About the AUKUS Deal The AUKUS deal is a trilateral security partnership between Australia, the United Kingdom, and the United States designed to enhance regional...

The instant asset write-off, which was due to expire on 30 June 2024, was recently extended by another 12 months, which means eligible businesses can continue taking advantage of this tax benefit in the 2024-25 financial year. Instant asset write-off extended until June 2025 Under the instant asset write-off, eligible businesses can immediately deduct the full cost of eligible assets under $20,000 if they are first used or installed by the end of June 2025. To qualify for the scheme, a business must have an annual turnover of less than $10 million. The instant asset write-off can be used for:...