Confidence levels among the biggest companies in Australia have hit their lowest point since the end of 2012, harming plans for investment and medium-term growth. That’s the diagnosis from National Australia Bank’s quarterly ASX300 business survey, which found confidence among Australia’s biggest corporations fell 13 points to negative 3 in the fourth quarter of 2014, reaching its ...
bookkeeping services perth Australia’s GST red tape is among the most complicated in the world, stifling small business and hampering the economy, a new report says. Software provider MYOB says administering the GST is an extreme burden on small businesses, costing almost $14 billion across the economy and roughly $7,000 per business. The current system requires business owners ...
The Henry Tax Review identified 125 taxes within Australia levied by all levels of government. Of those 125 taxes, just 10 taxes raised 90 per cent of all tax revenue. The company tax is the second largest source of revenue to the Commonwealth. This consideration immediately suggests two points: • The Australian company tax is a successful tax in that it generates substantial ...
Rupert Murdoch’s News Corporation and Telstra Corporation are lending money to their cashed-up pay TV business Foxtel at 12 per cent, claiming tax deductions on the loan and lending the money back to themselves at an interest rate of zero. An investigation by Fairfax Media has found this irregular transaction helped the Foxtel Partners reduce their tax in Australia, but the ATO seems to have missed out in taxing the interest income. Both companies have responded by saying they comply with tax ...
INTEREST rate cuts, lower petrol prices and a surging sharemarket have spurred consumer sentiment to a 13-month high in February, says Westpac, predicting more rate cuts are on the way. The Westpac Melbourne Institute Index of Consumer Sentiment increased by 8 per cent in February from 93.2 in January to 100.7 in February. “This is a much stronger result than we had expected,” chief economist Bill Evans said. “It represents the first time since February last year that we have seen ...
The number of homes approved to be built has fallen in December, but less than analysts expected, official data shows. The Australian Bureau of Statistics data showed the number of buildings approved declined a seasonally adjusted 3.3 per cent to 17,753 in December. The result falls short of forecasts by economists surveyed by Bloomberg, who predicted a 5 per cent fall in approvals during the month. The figures come after home approvals hit an all-time high in November, when they rose a seasonally ...
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