Apple’s Australian tax bill more than doubled last year after 12 months of strong profits but flat revenue. The local operation, Apple Pty Ltd, paid out $80.3 million in income tax in its last financial year, an increase of $43.9 million (121 percent) over the $36.4 million it coughed up in the previous year, according to its annual report to the Australian Securities and Investments Commission (ASIC). The tax hike came courtesy of a major increase in pre-tax profit, which hit $251.9 million, ...
Prime Minister Tony Abbott claims Labor has ‘let the cat out of the bag’ and revealed potential plans to hike taxes if elected into government. Shadow treasurer Chris Bowen has declared the era of ‘Santa Claus’ politics over, admitting tough decisions would have to be made to return the budget to surplus. The Australian people don’t believe in an opposition that pretends to return to surplus without spending cuts and tax increases, he said. Mr Abbott is calling on Labor to reveal its tough ...
Anti-gambling campaigners have slammed the NSW opposition’s plan to more than halve taxes on racing bets. The tax on every $100 wagered would be slashed from $3.22 to $1.28 should Labor win the March election, bringing the state into line with Victoria, leader Luke Foley says. Reverend Tim Costello, chief of World Vision Australia, says gambling is already out of control. “One way of at least bringing back some benefits from this complete loss of control is taxation,” he told AAP. “It ...
The Australian Capital Territory Civil and Administrative Tribunal (ACAT) has lowered the penalty tax for a couple who operated an investment property while living overseas, but found that being unaware of a tax was no excuse for a failure to pay. In 2012, Geoffrey Wade and Siew Imm Tan were living in Singapore due to personal circumstances. In April that year, they used an agent, PRD Nationwide, to rent out their Australian property. For two years, from May 2012 to May 2014, the property ...
The Abbott government is considering changes to migration rules that would allow local firms to employ skilled foreigners for as long as a year without applying for the 457 skilled worker visa, The Australian Financial Review reports. The new temporary visa proposal from the Department of Immigration and Border Protection would also reportedly allow foreign workers to bypass language and skills requirements and remove requirements for companies to prove the position cannot be filled by ...
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