IBM Australia says it pays below the 30 per cent company tax rate, but that the Tax Office is happy with the taxes it pays. Despite previous ATO reviews into its tax affairs, its submission to the Senate inquiry into corporate tax avoidance,said it was now considered a “low risk taxpayer” and there have been “no adverse findings” by the agency against it. Over the income years 2010 ...
Accountants Sydney UNIVERSITIES would have to pay a 20 per cent tax on fee increases above the current student price caps, rising to 60 per cent on fees more than $5,000 above the caps, and 80 per cent on fees more than $10,000 above the caps, according to an example put forward by HECS architect Bruce Chapman in his submission advocating a tax to discourage excessive price hikes in ...
THE Australian economy is expected to grow at a below-trend pace of 2.75 per cent for most of 2015 because business investment is expected be weak throughout the year. The Westpac/Melbourne Institute Leading Index, which indicates the likely pace of economic activity three to nine months into the future, only rose by 0.30 percentage points in January, and has been below trend ...
Tony Abbott declares that bad people should no longer get away with playing Australia for mugs, as they have been doing (“PM talks tough on security”, 16/2). Well said, sir. The 30 large multinationals that sent hundreds of billions of dollars offshore in 2012-13 to “related entities” in Singapore and Switzerland to avoid taxes play Australians for mugs, as do News Corp and Telstra, with their nice little lurk of lending money to related overseas businesses at inflated rates, claiming the interest ...
Australia’s largest banking and finance institutions have defended their corporate tax affairs and have rejected claims the tax system is “fundamentally flawed”, in submissions to a Senate inquiry. On Monday an international investigation exposed how the Swiss arm of the HSBC bank helped wealthy clients dodge taxes around the world. Leaked files revealed that hundreds of prominent Australians held HSBC Swiss accounts. The Senate inquiry will examine the adequacy of corporate tax laws ...
National Australia Bank’s quarterly business survey reveals a two-speed “patchwork economy” where the construction and services industries benefit from low interest rates, while commodity dependent companies lag. Business confidence also dropped below the long-run average of the bank’s business survey in the last quarter of 2014. NAB said business conditions were broadly unchanged, remaining at positive 4 index points, while confidence fell 4 points to post a reading of positive 2 index points ...
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