The federal government has said that they can’t declare the tax accumulated in treasurers’ fund as a result of mining tax. The treasurer said “it is not good to disclose the tax details of individual taxpayers”. It will be a breach of the commonwealth laws to protect privacy. Various parties and crossbenchers have shown strong objection on this issue. They are demanding that government should disclose the revenue generated from the mining companies. They also commented that, if the government ...
The Australian share market is higher following a strong lead from Wall Street. At 1015 AEDT on Friday, the benchmark SP/ASX200 index was up 70.1 points, or 1.35 per cent, at 5,280.9, while the broader All Ordinaries index rose 68 points, or 1.31 per cent, at 5,257.7. On the ASX 24, the September share price index futures contract was up 72 points at 5,235 with 8,735 contracts traded. This news story is reprinted from www.skynews.com.au Read more details on Brisbane Accountants ...
THIS MORNING In Australia, financial accounts and population data for the September quarter are released. In the US, the leading index and retail trade figures are released. OVERNIGHT MARKETS US Equities US sharemarkets rallied sharply on Wednesday after the Federal Reserve gave a strong signal that it was on track to raise interest rates at some point next year - pointing to confidence in the US economy. At the close of trade, the Dow Jones was up by 288 points or 1.7%. The S&P 500 ...
taxation obligations
Fires And Floods Prompt Coalition Policy: A Great Help For Small Businesses
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Fires And Floods Prompt Coalition Policy in Brief: The government has released a policy on 2nd Feb 2013, announcing a major relief for small businesses in Australia. If you are a small business owner, and your business is physically harmed due to any natural calamity like flood or fire, this grant can save you from the financial trouble. What is the Upper Limit of this Grant Amount? As per the Policy, small businesses are eligible to receive grants of upto $100,000. The government ...
Australian consumers are the gloomiest they have been in three years. The Westpac-Melbourne Institute measure of sentiment fell by 5.7 per cent in December. The index reading of 91.1 points was the lowest score since August 2011. Westpac’s chief economist, Bill Evans, said it was a very disturbing result. "The index is now at its lowest level since August 2011 when it briefly fell below 90," Mr Evans said. "Prior to that you have to go all the way back May 2009 to see a period when ...
Australian Prime Minister has said that millionaire taxpayer companies like Google and Apple would be required to publish their tax arrangements. This move is a result of Australia’s efforts to curb down the tax avoidance schemes being implemented by big names in corporate world. According to Assistant Treasurer David Bradbury, many big companies have been hiding their actual income and transferring it to other nations where taxes are comparatively lower. “We want to make sure that ...
AUSTRALIA’S unemployment rate continued its slow but steady rise in November, reaching 6.3 per cent, the highest level in more than 14 years, as more Australians started looking for work. The Australian dollar jumped more than half a US cent to US83.7c in morning trading as investors focused on the 43,000 new jobs were created between October and November, around twice what economists had expected, lifting total employment in the economy to 11.64 million.But almost 95 per cent of these were ...
Political and business leaders are touting the next 12 months as a make-or-break year for the country’s reform agenda - and Australia’s economy.A number of big changes will be proposed and debated. These include tax reform, a major shake-up of federal-state relations and workplace relations change.The stakes are high. With global growth faltering and concerns about our own economic performance rising, our leaders are urging the public to support the changes.The alternative is that Australia risks ...
Australia Enters Income RecessionBAS Accountants
GDP: Australia Enters Income Recession, Dollar Dives As Economy Stalls
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The Australian dollar plummeted to fresh 4½-year lows on Wednesday as the country entered a technical income recession and gross domestic product expanded just 0.3 per cent in the September quarter.At midday, the Aussie was trading at US84.07¢, having earlier dropped about half a US cent to US83.92¢. The sharp decline reflected market surprise at the weakness of Wednesday's national accounts. The Australian Bureau of Statistics said the value of goods and services produced in the quarter ...
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