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January 2010
Dear AVCAL Colleague Happy new year to you all. Last year ended on a very busy note with the third submission regarding the taxation of Managed Investment Trusts being sent on the afternoon of Christmas Eve. The momentum hasn't slowed down with Australia's annual summer shut-down, as we now need to produce a response to the draft tax determinations by the end of January. And finally, the "Australia as a Financial Centre" report was released on Jan 16th and there will be a need to interface with the Government and the proposed financial centre taskforce to enable the implementation of some of the recommendations. We are keeping the website posted with all of the latest on these matters and our Legal and Tax Working Group and Communications Group are working on the issues. Any enquiries should be made to me directly. Our working groups and committees make an important contribution to AVCAL's work, as they make recommendations to Council and oversee specific outputs for the secretariat. They comprise a mixture of Council members and additional members. Most committees/working groups are established at the beginning of the year but sometimes one will be convened on an ad hoc basis to cover a specific project. This year, we've a very energetic and committed group of people involved in the following groups: Private Equity Venture Capital Limited Partner Communications Responsible Investing Research Professional Standards and Development Legal & Tax Conference Member Services CFOs Networking and training Conference registrations will open this year on 11 May. So mark your diaries and please update your details via the website so that we can keep in contact. Bernard Salt, the renowned demographer and a partner with KPMG, will give the opening keynote this year and of course Bill Evans from Westpac will be back to give his annual view of the year to come. If you're interested in partnering with AVCAL for the conference or other programs, please contact Shana Pascoa. Stay tuned for our networking and training program for 2010. We'll publish the program shortly. Regards Katherine Woodthorpe Chief Executive Latest Policy and Research News The latest mergermarket Private Equity alert AVCAL welcomes the Johnson report on Australia as a Financial Centre AVCAL welcomes the Johnson report on Australia as a Financial Centre which contains comprehensive, timely and critical recommendations for Australia's financial services sector Commercialisation Australia Program Direction No. 1 Minister for Innovation, Industry, Science and Research, Senator Kim Carr, recently released the first directive for the Commercialisation Australia Program. It has been developed under the Industry Research and Development Act 1986 to provide direction to Innovation Australia (the Board) AVCAL submission to Treasury on MIT capital treatment AVCAL's submission to Treasury on Tax laws Amendment (2010 Measures No.1) Bill 2010: MIT capital treatment Commercialisation Australia prepares to take applications Commercialisation Australia is now preparing to accept applications from Australian innovators as it launched a range of online and telephone resources to assist potential applicants with a pre-application checklist and other relevant information AVCAL's call to the Federal Government to restore international investor confidence The release of draft rulings/determinations from the Australian Tax Office gives the Australian Government an opportunity to clarify their tax policy in relation to TD2009/D17 and TD2009/D18. Click on the above link for AVCALs media release on the subject Draft Taxation Determinations and Rulings on ITAA The ATO has released several draft determinations and rulings in relation to the Income Tax Assessment Act View past AVCAL submissions Value Creation in Private Equity A study by the Centre for Entrepreneurial and Financial Studies, and Capital Dynamics looks into the affects of the sub prime crisis on the private equity business model. Was high leverage the only reason why private equity firms were successful or was there real value created due to noticeable operational changes in portfolio companies? As a result, how will the private equity model behave in the face of significant reduction in debt issuance over the coming cycle? Input requested Input is being called for by the Rural R&D Council, in the development of Australia's National Strategic Rural R&D Investment Plan. The RRDC's terms of reference require it to develop an investment plan that will "improve the productivity, profitability, sustainability and global competitiveness of Australia's agricultural, fisheries, forestry and food industries with benefits for individual rural businesses, the environment and the wider community". To this end, the RRDC would welcome your views regarding how greater investment can be encouraged. Click here to view more information. Responses need to be in by 19 February 2010. Mark your diaries AVCAL Corporate Golf Day will be held on 27 May 2010 at Concord Golf Club, NSW. Annual Conference Golf Day will be held on Tuesday 21 September 2010 at The Glades, Robina QLD Annual Conference will be held on 22 - 23 September 2010, held on the Gold Coast, QLD. Registrations for these events will open soon. Other Events National Growth Summit'10 - Going Global, Getting Lean, Sydney Convention Centre, 17- 18 February 2010. Australia's leading executive event for entrepreneurs and leaders of growing companies. Register here. 6th AustralAsian Cleantech Forum 2010, 22-24 March 2010, Crown Conference Centre, Melbourne. Register here The 7th annual Australia & New Zealand AVCJ Private Equity & Venture Forum, 3-5 March 2010, The Westin Sydney. As an extension of its past six highly successful forums, it is already regarded as the meeting place by the industry experts across the region. Register now. AAAI 2010 National Angels Conference, Stamford Grand, Glenelg, Adelaide 17-19 February, 2010. Meet Angel investors and innovation experts from across Australia and around the world. Register now Australian Investment Network The Australian Investment Network is holding its first Speed Pitching events in Sydney and Melbourne in March 2010. Please write to Dr. Tania Peitzker if you'd like to experience this successful, Dragons Den inspired format for meeting entrepreneurs in a face-to-face, exclusive environment. "Open for Business" New Zealand-Australia Investment Forum, 10 and 11 March 2010, Hyatt Regency Auckland, New Zealand. For more information click here.	AVCAL 2009 PARTNERS RESEARCH PARTNER REGIONAL PARTNER
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