As the voice for Australian business here in Singapore, we are regularly approaching Government both here in Singapore and in Australia on topics of importance to our business community. AustCham has spoken up on behalf of members on the following areas impacting your ability to do business in Singapore and Asia.

• Removal of Capital Gains Tax Discount for Foreign Individuals
• APEC Business Travel Card
• Foreign Worker Policy In Singapore
• Australia in the Asian Century White Paper
• Productivity Commission - Bilateral and Regional Trade Agreements
• Trans Pacific Partnership Agreement

Through AustCham Member, Steve Douglas, Chairman of SMATS Group, AustCham has been made aware of a proposal by the Australian Taxation Office to remove the 50% capital gains tax (CGT) discount concession for foreign and temporary residents.  If passed, the legislation will affect disposal of assets from May 8, 2012.

AustCham has sent a letter to The Treasury Department expressing our concerns with the draft legislation. Click here for the letter.

The second stage of the new APEC Business Travel Card (ABTC) eligibility criteria commenced late last year and AustCham would like to announce how we can help our members through this new process.

Stage 2 of the criteria relates to the requirement that every business entity that seeks to utilise Australia’s ABTC for its employees must establish that it is engaged in international trade or investment in the APEC region. DIAC defines that a business is engaged in international trade or investment if it meets one of the following requirements:

• The business is listed in the current Forbes Global 2000 business list
• The business has received an Export Market Development Grant (EMDG) from Austrade in the past five years
• The business has been a finalist in the Australian Export Awards in the past five years
• The business has been certified by an ‘approved body’

DIAC has named two ‘approved bodies’, Ai Group and Australian Chamber of Commerce and Industry, to provide this business certification. Business certification will be assessed on three criteria:

• The business is lawfully registered in the economy in which it is operating and has provided clear evidence of this;
• business is engaged in trade and / or investment in the APEC region and there is clear evidence of this; and
• If the business is a start-up operation, there is clear evidence of viability, sound business planning, market research and product/s or services to be traded.

For more information on the new eligibility criteria please visit http://www.immi.gov.au/skilled/business/apec/eligibility.htm#b.

Should you wish to apply for business certification, application forms can be found at:
Ai Group http://www.aigroup.com.au/trade/apec or

ACCI http://www.acci.asn.au/Our-Agenda/Global-Engagement/APEC-Business-Card.

How Can AustCham Help?

Part of the business certification application for both ACCI and Ai Group includes listing a business association as a reference for verification of your business. AustCham meets the requirements for this and as a corporate financial member of AustCham you can list us as your referee.

We can also assist in the provision of a letter of support which as suggested by the respective approved bodies can assist start-up operations validate their business operations, in addition to strengthening the application for existing companies. Please contact the AustCham office should you require this service.

AustCham has developed a set of FAQs relating to this business certification process. Click here for Frequently Asked Questions  For any further questions or concerns please do not hesitate to contact the AustCham office on +65 6738 7917
 

History of changes to APEC Business Travel Card

Early in 2011 we asked for your input by survey on your experiences with the APEC Business Travel Card. 

As a participating member of a newly launched regional organisation, Australian Business Asia (ABA) we then extended this survey across the Asian region.

The findings from this survey have been incorporated in a letter to the Australian Minister for Immigration and Citizenship, the Hon. Chris Bowen on behalf of all members of Australian Business Asia.  Letter to Minister for Immigration and Citizenship

In October the Minister for Immigration and Citizenship responded by letter. Although some of our concerns were addressed, the eligibility criteria still prevents many Australian in Asia accessing this practical business tool. Our joint reponse letter under the ABA banner is attached here.

Australian Business Asia (ABA) and AustCham Singapore have been in further discussions with the Department of Immigration and Citizenship (DIAC) concerning the new criteria for applying for the APEC Card. The outcome from our discussions and our advice was sent to all members on November 11. The communication is attached here.

 AustCham was informed the new eligibility arrangements for Australia's APEC Business Travel Card commenced on 16 November 2011.Please see Minister Bowen's media release at http://www.minister.immi.gov.au/media/media-releases/

For all relevant information concerning the new arrangements and to access the new application form, please visit the Department of Immigration and Citizenship website via the attached link. http://www.immi.gov.au/skilled/business/apec/ The application form itself has relevant information concerning the eligibility criteria and application lodgement and processing arrangements. Please contact details for the Department's processing office in Brisbane if required.

31 Jan 2013 Joint Letter from Chambers of Commerce in Singapore to the Honourable Tan Chuan-Jin, Acting Minister for Manpower concerning the revision of government policies pertaining to the employment of foreign workers in Singapore and the resultant potential impact on the operations of foreign and local companies and the overall economy. You can view the letter here   Media Coverage regarding the letter can be found here

October 2012:The Australian Government’s Australia in the Asian Century White Paper has now been released. This document is a roadmap to guide Australia to become a more prosperous and resilient nation, fully part of the region and open to the world.The scale and pace of Asia’s transformation is unprecedented and the implications for Australia are profound.

AustCham encourages its members to learn more about this important document through reading the Executive Summary, the Paper itself or looking at the Fact Sheet on the areas that most concern you. All can be found at the official website http://asiancentury.dpmc.gov.au/

To join in discussions forums on this topic, please visit The Lowy’s Institute’s Interpreter blog, The Conversation and the East Asia Forum blog of the Australian National University.

History

In September 2011, the Australian Government commissioned a White Paper on Australia in the Asian Century.

AustCham Singapore and also Australia Business Asia both made submissions to the paper. A summary of all submissions that has been released by the working group for the Australia in the Asian Century white paper, please click here.

Joint statement by AustCham Singapore, AmCham, New Zealand Chamber of Commerce Singapore and Singapore Business Federation in support of the Trans Pacific Partnership Agreement.  You can view the statement here

You can view the submission document here and also on the Productivity Commission website here

Australia review anti-bribery laws
Bribing or attempting to bribe a foreign public official is a serious crime. Australian companies or individuals that bribe an official in a foreign country can be prosecuted under Australian law and the laws of foreign countries.
On 15 November 2012 the Australian government released a consultation paper on changes to Australia’s foreign bribery laws. The government is reviewing whether small value payments to expedite or secure routine government action should continue to be allowed under Australian law. Industry and the public’s views on changing Australia’s anti-foreign bribery laws are being sought.  Information on Australia’s anti-bribery laws, on the consultation paper, and on how to make a submission on the proposed changes is available at: http://www.crimeprevention.gov.au/Financialcrime/Pages/Briberyofforeignpublicofficials.aspx