View the media release archives for the last two years. Most recent media releases are listed at the top of the page.
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| Australian mortgage sector under increasing pressure |
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10 July 2006 |
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Deloitte's second annual Australian mortgage report – Broadening the Horizons - notes growth in Australia's residential mortgage market reached 13% p.a. in 2005. Deloitte actuarial and advisory partner James Hickey, who co-ordinated the authors' contributions to the report said, "While 13% growth appears reasonably solid, it actually represents the lowest level of system lending growth since 2001. "Mortgage growth peaked in early 2004 when it reached almost 22%. "Housing approvals fared little better in 2005 calendar year, with overall growth in mortgage lending approvals increasing only 8% over 2004," said... |
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| Government rebate boosts small wineries |
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06 July 2006 |
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Profitability for wineries with less than $1 million of revenue has improved significantly in the last year survey according to the Deloitte annual financial benchmarking survey of the Australian wine industry: Vintage 2005. The survey examines the financial performance of wineries located across Australia for the 2005 financial year, and provides the wine industry with data upon which to benchmark results. According to Deloitte Partner and leader of the Deloitte Wine Industry Group, Mr Stephen Harvey, this improvement for smaller wineries appears to be driven by... |
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| Deloitte joins forces with BDO Melbourne |
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03 July 2006 |
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Deloitte, one of Australia’s largest professional services firms, is merging with the Melbourne office of professional services firm BDO, making it one of the largest professional services firms in Melbourne with revenues in excess of $200 million. The merger will take place in July 2006. Across Australia, Deloitte will now have 321 partners, 3200 people and revenue of $600 million. Commenting on the merger, Deloitte’s CEO Giam Swiegers said, "It is a friendly merger with both firms recognising the cultural fit and growth opportunities for this new partnership.... |
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| IPO activity tops $13 billion in latest financial year after bounce in June quarter |
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30 June 2006 |
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IPO activity is set to top $13 billion in 2005-06 after a bounce back in the June quarter, according to the latest quarterly IPO Report by Deloitte Corporate Finance. The report found that 55 IPOs with total funds raised of $2.4 billion were expected to list in the June quarter by the time it closes at the end of the week. The bounce back in new company issues in the latest quarter will lift IPO activity in the financial year to 30 June to $13.2 billion from 170 IPOs. This represents a 29% increase in the value of funds raised compared to the previous financial... |
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| Innovation on the radar for medium sized businesses |
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28 June 2006 |
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Innovation is on the radar for medium sized businesses. However converting innovative ideas into successful initiatives requires additional skills, according to a survey of medium-sized businesses conducted by Deloitte’s Growth Solutions team. The survey of more than 20 medium-sized companies was conducted in June 2006 at a Careers in Innovation seminar hosted by the School of Enterprise at the University of Melbourne. All of the survey respondents believe that innovation is on their radar, and 80% have mechanisms to capture innovative ideas. The issue is,... |
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| Deloitte corporate doctors rated #1 globally |
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26 June 2006 |
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Deloitte has been ranked Number 1 non-investment banking firm for global corporate reorganisation services for second quarter in a row. Leading US corporate finance publication The Deal (www.thedeal.com) rated the firm as global leaders for its corporate reorganisation services in its first-quarter 2006 bankruptcy league table. Globally, Deloitte was involved in 283 bankruptcy cases as of 31 May, 2006, the highest number of any non-investment banking firm. Of the 283 cases Deloitte was involved, 39% were active assignments in... |
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| CGT changes welcomed |
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23 June 2006 |
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Draft laws introduced yesterday will largely do away with Australia's hated Capital Gains Tax (CGT) for foreign investors. Deloitte International Tax and M&A Partner, Joe Niven, said under the new laws most foreign investors can sell their Australian investments without paying CGT. "Currently, foreign investors in Australian private companies pay CGT just like Australian residents," Mr Niven said. "Australia is one of the few countries in the world that taxes capital gains made by foreign investors.
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| Investors and directors forced to rely |
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23 June 2006 |
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‘Corporate enlightened self interest’ may not be enough to provide reliable Corporate Social Responsibility (CSR) practices and reporting, Deloitte CSR Director, David Newhouse said. Responding to the Parliamentary Joint Committee on Corporations and Financial Services report on corporate responsibility, Mr Newhouse said while more regulation and red tape is not needed and CSR reports should not be mandatory for all, there is definitely a need for more guidance to resolve the quality and content debate. "CSR in Australia and globally is still developing and there... |
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| Federal Court ruling may offer better FBT outcome for employee share schemes |
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22 June 2006 |
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Employers issuing shares to employees as part of an employee share scheme may be paying fringe benefits tax to the Tax Office unnecessarily says Deloitte Employment Taxes Partner, Elizma Bolt. In a recent case involving ABC Learning Centres Ltd, the Federal Court has ruled that the provision of such benefits does not give rise to a "fringe benefit" if the benefits are provided in relation to employees generally. "In order to fall within the definition of fringe benefit in the FBT Act, the arrangements must specifically identify the individual employees in... |
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| Deloitte campaign gets people talking |
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22 June 2006 |
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Deloitte’s enthusiastic support for the World Cup has started a conversation across the globe and kick started its new "Chief Executive Hero" advertising and marketing campaign. The campaign, which features eight separate print advertisements, is running in national newspapers and business magazines, as well as on airport billboards for the next 12 months. "Over 3000 people from around the world registered to play the Deloitte Fantasy World Cup, an online game where people can create their own virtual soccer team," Chief Marketing Officer, David... |
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