Issue 145 - The Australian Chamber of Commerce in Hong Kong.

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Business Technology Committee: Virtual office A revolution is quietly occurring in the workplace, as the shift to alternative workplace solutions is rapidly gaining traction within enlightened organisations. A research firm, International Data Corporation, recently reported that as of end 2011, more than 1 billion people or 18% of the global workforce are now operating as Mobile Workers, meaning that they spend at least 2 days of every week working outside of the traditional office. This figure is expected to double to 2 billion workers by the end of this decade. At a recent AustCham breakfast seminar held on the topic of Virtual Office & Workplace Solutions, Alex Guthrie from HSBC explained that whilst the corporate benefits of an Alternative Workplace Strategy (AWS) are often well understood, companies need to also invest the effort in selling the benefits of an AWS to their employees and help them understand that this is a journey that they are embarking on and not a destination to begin with. From his experience, if the change management process is handled effectively, then more than 60% of the workforce will enthusiastically embrace a flexible working arrangement and give up entitlements such as a permanent desk at their primary place of work. As Neil Salton from Woods Bagot elaborated, “If you ask employees whether they would prefer to own and drive a Ford or share in driving a Ferrari, then most will choose the latter alternative”. “Advances in mobile and networking technologies, together with the development of sophisticated collaboration tools, is now enabling distributed teams to operate effectively across multiple different locations and varying time zones” explained Peter Smith from Wavelength Consulting. The benefits of an effectively executed Alternative Workplace Strategy are certainly compelling, where a 20-50 percent improvement in asset performance and cost savings for office real estate is achievable. Greater productivity and collaborative work efforts, along with higher staff retention are also key benefits. This is particularly the case for Gen Y’s and Millenials, who typically highly value having flexible workplace arrangements. - Peter Smith, Wavelength Consulting COMMITTEES IN ACTION | 13 Financial, Legal and Tax Committee: Submission to Treasurer on Double Taxation Agreement During his July visit to Hong Kong, the Australian Treasurer, Wayne Swan, received a submission from our committee urging him to elevate the importance of a double taxation agreement between Australia and Hong Kong. The committee gave five key reasons in support: 1. It would encourage Asian investors to participate in Australian funds 2. Australia would be able to take greater advantage of Hong Kong’s Closer Economic Partnership Arrangement with China - and thus its ability to export to China tariff free. 3. Australia’s reputation as a regional hub for financial services in Asia would be raised - and reservations investors have about the Australian financial services industry would be reduced. 4. It would support Australia’s development as a secondary RMB destination in Asia. 5. It would redress the present imbalance in Australia’s tax treatment between Singapore and Hong Kong, which favours Singapore. The feedback is the Treasury’s main concern for entering into the agreement is loss of tax revenue. We will be working to forward our view as to why this concern is misplaced. Darren Bowdern of KPMG will lead the focus, for the Committee and the Chamber. We’ll keep you posted. - Brooke Patterson, Jarrah Wealth MEMBERS SIGN UP FOR VEGGIES! Over 300 members renewed early in June and going into our 25th year, the below 25 members will each be receiving a vegetable hamper from Tas’Mania: David Hinchey David Punter Richard Holloway Wendy List Batya Shulman Shanti Govindaraju Daniel Chan Michael Leung W. H. Wong Cameron Hassall Daniel Booth Travis Benjamin Jonathan Leong Kristina Koehler Calvin Mak Angelina Wong Donald Hess Glenn Haley Antonio Koo David Hogan Karl Hudson Lydia Tye Geraldine Johns-Putra Arthur Bowring Jasmine Lu Vegetables from the world's richest soils, freshest air & cleanest waters. 3kg packs $380; 6kg packs $680. Freshly picked & delivered to your door weekly. Call 81351394 or visit www.meatmarket.hk to order today.
14 | ON THE SCENE Like to see your company brand here? New advertising opportunity – on this popular space! Email Karen at karen.wu@austcham.com.hk for details AUSTRALIA DEPUTY PRIME MINISTER AND TREASURER WAYNE SWAN MP DELIVERED A SPEECH TO AUSTCHAM MEMBERS AND FRIENDS DURING HIS VISIT TO HONG KONG IN JULY. THE AUSTRALIAN REFLECTIONS LUNCHEON WAS HELD AT RENAISSANCE HARBOUR VIEW HOTEL. THANKS TO THE EVENT SPONSORS: Luiz Da Silva Pedruco and Avi Machlin of Westpac. Charles Kingsley with Richard Huston, Liu Li-Gang and Tony Souza of ANZ. Sidney Cheung and Cassandra McCarthy. Gaurav Ahuja, Mark Machin of Canada Pension Plan Investment Board with Susan Yuen of ANZ. Peter Chen, Paul Mitchell and Warren Phillips of KPMG. Dan Ryan and Mark Sims. Katrina Arkell of Qantas Airways and Christopher Xing. Alice Jim of Austrade with Georgia Milne and Adrienne Lee of ANZ. Karen Chen and Christopher Condon. Chen Gang and Wei-Zong Shen. The Deputy PM models his Panda BBQ apron – a gift from AustCham. Geoffrey Stevens, Adam McKissack and Zhang Dong. Thomas Wong, Deborah Leung of CPA Australia, Commissioner of Trade & Investment Queensland (Hong Kong) Angela To with Charles Wong. To book an event, please email bookings@austcham.com.hk
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Page 4 and 5: 4 | CHAMBER CHATTER Hello all, The
Page 6 and 7: 6 | AUSTRALIA FOCUS Inhale now: Aus
Page 8 and 9: 8 | HONGKONG FOCUS WHO’S WHO IN T
Page 10 and 11: Deacons 14/F, Alexandra House 18 Ch
Page 14: ON THE SCENE | 15 OVER 100 GUESTS A

Issue 145 - The Australian Chamber of Commerce in Hong Kong.

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