Treasury warns on productivity
Updated | Treasury secretary Martin Parkinson has challenged the states to recognise they have their own ways of raising taxes, rather than relying primarily on Canberra to fund hospitals, schools and infrastructure.
Labor vows to block rise in superannuation age
Labor has vowed to block government plans to increase in the age at which people can access their superannuation, just as it will oppose moves to raise the pension age to 70.
Henry Review member calls for GST increase
A member of the Henry Tax Review, John Piggott, has backed calls for the goods and services tax rate to increase and base to be broadened to include fresh food and education.
Greens threat to block Cambodia refugee deal
The Greens have threatened to block the Abbott government’s controversial deal to resettle up to 1000 refugees from Nauru in Cambodia, declaring it a “fundamentally unacceptable place for Australia to dump its refugees’’.
Rabbits, rugby and rallies as Abbott budget ‘punches’ through
Prime Minister Tony Abbott says sometimes you’ve got to “throw a punch to be the best and fairest”; the two-thirds of voters who described his first budget as unfair might disagree.
Australian spy web reaches Philippines
An Australian spy agency was secretly helping the US secretly monitor calls across the Phillipines, leaked US intelligence documents reveal.
Change, not scrap RET : AiG
The Australian Industry Group said the federal government should make changes to the renewable energy target rather than abandoning the scheme altogether.
Australia’s AAA credit rating at risk: S&P
Standard & Poor’s has warned that unless substantial cuts are made this year and in the following years to the deficit it could be forced to reconsider Australia’s AAA credit rating.
Profit shifting not just a tech problem: ATO
The man leading the Tax Office crackdown on profit shifting said that some multinationals were paying related companies 900 per cent returns to avoid paying tax in Australia.
Abbott’s budget promises, then and now
Laura Tingle | May 2010 may have been only four years ago but in political time feels as far away as the paleolithic era.
No-PIN Eftpos on its way
Shoppers will soon be able to swipe their eftpos debit cards for small payments, as the movement away from cash continues.
Visa changes show Morrison means business
At $1 billion worth of investment so far and rising fast, Australia’s “significant investor” program is demonstrating its appeal – especially to wealthy Chinese.
The truth about our welfare state
Editorial | A budget which finally faces up to the fact that governments are spending more than Australians are prepared to pay in taxes was bound to be a tough sell.
Economy
Experts back super age of 70
Industry groups and tax experts have backed calls to increase to the age at which Australians can access their superannuation savings.
Henry Review member calls for GST increase
A member of the Henry Tax Review, John Piggott, has backed calls for the goods and services tax rate to increase and base to be broadened to include fresh food and education.
Politics
WA backs lifting GST – if it gets bigger slice
West Australian Treasurer Mike Nahan supports raising the GST rate but would “veto” any move until the way it is distributed among the states is changed first.
Experts back super age of 70
Industry groups and tax experts have backed calls to increase to the age at which Australians can access their superannuation savings.
Education
More companies hiring new MBA grads
People who have just earned their MBA have another reason to celebrate — US companies with business school recruiters have boosted the number of graduate hires this year.
ATN warns new research fund will be ‘profoundly disruptive’
A key university group has warned one of the federal government’s key budget initiatives, the $20 billion Medical Research Future Fund, will distort research incentives and be disruptive for universities.
Legal Affairs
Legal aid funding slashed again
The funding assigned to legal aid has been slashed by another $15 million in the federal budget this week, causing outrage among sections of the community who lament the further cuts will erode basic human rights and result in a higher instance of justice being miscarried in litigation.
Barristers biff blows chambers apart
Solicitors are notorious for being the worst clients, particularly when embroiled in litigation. Barristers, despite their familiarity with the well-trod halls of Queens square, appear to be even worse.
Arts & Saleroom
Many hats make life’s work for business nomad Sir Rod Eddington
Policy, business and sport are his passions, and the well-travelled Sir Rod Eddington has a wealth of fascinating tales – of good times and bad.
Professional Services
Cochlear finance chief says matching tax rules ‘impossible’
Cochlear chief financial officer Neville Mitchell says countries will always compete via tax incentives to attract companies to their shores whatever agreement is forged by the leaders of the G20 this year.
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.
