Gifts, hot rods: building kickbacks spread
Fairfax exclusive | Wads of cash, a hot rod and free air travel have emerged as the latest kickbacks given to union officials and company managers, as the federal government is set to announce a royal commission into union corruption.
The money trail: behind every political victory
In every political victory there’s a money trail. Behind the passion of question time, the cut and thrust of the news cycle and the battle for sound bites, a more mundane process runs in the back rooms.
Australian tax rates above OECD average: KPMG
Australia has one the highest personal and corporate tax rates in the OECD, new research has confirmed, re-igniting calls for wide-ranging tax reform.
Ethanol $100m aid faces axe
Exclusive | Taxpayer-funded support for the ethanol industry is in the sights of federal government’s budget razor gang following a report that found a $100 million annual subsidy produces negligible benefits.
New litigation chases Packer and Murdoch
Efforts by liquidators to pursue James Packer and Lachlan Murdoch for $244 million in damages relating to the collapse of failed telecommunications group One.Tel have resumed with a court date set for October.
Government wants to bring back conflict pay
The Abbott government will reintroduce conflicts into the heart of the financial system with its changes to the Future of Financial Advice laws, Labor said on Sunday.
US backs Hockey’s plans for IMF reform
The Obama administration is supportive of Treasurer Joe Hockey’s call for the United States to hand over power to emerging economies at the International Monetary Fund, but some Republicans are digging in over blocking reforms of the Washington-based fund.
Grapegrowers under the pump as Treasury Wines cuts costs
Major wine companies are playing hardball on pricing, just as a glimmer of hope arises for the thousands of Australian grape growers who did not make a profit on their vineyard operations over the past four years.
Palmer’s pessimism over Sino Iron project
Despite the cost over-runs, legal battles and delays, the future of Citic Pacific’s $11 billion iron ore mine in Western Australia is still not guaranteed.
Oil and gas body slams LNG interest test idea
Australia’s peak oil and gas industry body has lashed a proposal that LNG export projects should be subject to a national interest test, saying the delay in investment could cost up to $5.5 million in GDP every day.
The money trail: behind every political victory
In every political victory there’s a money trail. Behind the passion of question time, the cut and thrust of the news cycle and the battle for sound bites, a more mundane process runs in the back rooms.
No fire sale at Metung as crowds bid up prices
Hundreds of property bargain-hunters defied blistering temperatures, bushfires and the threat of an overheating property market on Sunday to buy more than 80 properties in Gippsland Lakes, about 280 kilometres east of Melbourne.
Australia charts its own course on independents
Around the world, charter schools – or free schools as they are called in Britain, are all the rage. They are a radical approach which is usually turned to when public education is failing.
Boral CEO: CFMEU’s illegal campaign against us
We are lucky to live in a society where the vast majority of our citizens obey the laws of the land, and those few who don’t are judged in a fair and transparent manner by their peers and penalised accordingly.
Economy
Militant union losing battle on Perth projects
Building giant Brookfield Multiplex has engaged conservative industrial relations representatives to oversee labour relations at major Perth projects in what could prove to be a fatal blow to militant union control over the city’s construction sites.
Taxpayer bill of rights in review
Taxpayers who have long had issues with the ATO, have argued for a taxpayer bill of rights that is legally enforceable. Inspector-General of Taxation Ali Noroozi identifies it as one of the key issues he will review in the year ahead.
Politics
Shorten attacks ‘lawyers’ picnic’ royal commission
Federal cabinet is expected to approve the terms of reference for a royal commission into the union movement on Monday, with Labor launching a pre-emptive attack on the announcement.
Taxpayer bill of rights in review
Taxpayers who have long had issues with the ATO, have argued for a taxpayer bill of rights that is legally enforceable. Inspector-General of Taxation Ali Noroozi identifies it as one of the key issues he will review in the year ahead.
Education
MOOC watch: Scale and openness disputed
The head of Stanford University, an institution whose academics led the current revolution in online education, has questioned whether MOOCs are able to effectively teach large numbers of students with open access to the courses.
Data point | Indexation necessary to keep up
Federal government funding for undergraduate courses has fallen on a per student basis since the Gillard government’s university cuts in 2012.
Legal Affairs
Alan Jones seeks complaints against Pat O’Shane
The judicial commission of NSW has been drawn into the bitter and long-running legal saga between controversial magistrate Pat O’Shane and Sydney shock-jock Alan Jones.
ANZ decision means big fees for lawyers
Bank customers will not be the only beneficiaries of a landmark federal court ruling against ANZ, with legal firms including Maurice Blackburn ringing up big bills for representation.
Arts & Saleroom
Lunch with the AFR: Jarrod McKenna
Christian activist Jarrod McKenna has put his money where his mouth is with a ‘transition’ housing scheme for refugees.
Let the new games begin
Some little known sports are about to make their Olympic debut. ’s form guide explains the finer points of all of them, from skiing slopestyle to mixed biathlon relay.
Professional Services
Banks and large caps fight changes to leasing rules
BHP Billiton, Woolworths, Wesfarmers and the big four banks oppose plans forcing them to recognise billions of dollars of lease liabilities on their balance sheets for the first time.
Accountants expect uplift from change of government
Accounting firms expect a jump in advisory and compliance work when legislative changes begin to flow from the new federal government, but many are also hoping for an indirect lift from increased business confidence.
