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  • Oppn won't back GST changes | Business Spectator
    Albanese told reporters near Hobart Struggling states like Tasmania were in danger of missing out on GST revenue if the government reformed the tax Mr Albanese said We won t be voting for the cuts to this mining tax he said We won t be voting for Tasmania to miss out on its share of the GST We won t be voting for an extension of the GST We won t be voting for an increase of the rate of the GST either Print this page Related articles 08 Jan Australia risks missing tech boom 03 Jan KPMG chair urges govt on costs 03 Jan WA to block online GST plan 31 Dec Govt scraps small business tax breaks 27 Dec Sinodinos eyes super tax shake up More from Business Spectator Technology Adapt or die Commercial The Future of Energy Family Business Alan Kohler s Family Business China China Spectator Please log in or register to post comments Comments on this article Comments Policy Grant Mason Mon 2013 11 25 13 55 There is issue with how lowering the 1 000 limit will be enforced In Australia the ATO has companies necks in a noose that if you don t pay your GST and BAS liability that those debts could become the personal liability of the company directors Australian companies are the GST debt collectors for the ATO For international companies there is not this compulsion in regards to the GST They can not be legally required to declare and pay it as they are foreign companies We try to clamp down on them then they just may say selling to Australians is too difficult and say forget it Or they would really jack up the price to Australians This whole focus on GST leakage masks the big problem of these multinational companies paying nil profit tax in Australia See if this government has the courage to tackle this one tony garner Mon 2013 11 25 14 32 For example Rio Tinto Exxon Shell BP There may be a problem with Microsoft or Google but I would guarantee that the ATO can fix it Mike Borgelt Mon 2013 11 25 17 20 Currently it is taking customs parcel post at least 3 weeks to notify you receive the clearance documents and finally ship your goods out of Sydney Unless you use a customs agent of course when mysteriously the process only takes a few days Nice incentive to use an agent eh That will be 100 please How on earth are they going to cope with any increase in workload I suggest they get the local post office to collect the money for 10 of the GST collected Many are privately owned agencies nowadays Judicious sampling of incoming goods by customs with appropriate penalties at least the value of the goods plus the GST for false value declarations would discourage cheating Laurie Clark Thu 2013 11 28 14 58 If they lower the threshhold to 20 or 30 as some

    Original URL path: http://www.businessspectator.com.au/news/2013/11/25/tax/oppn-wont-back-gst-changes (2014-01-12)
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  • Treasurers to talk GST reform | Business Spectator
    markets Renewable energy Resources Solar energy Wind power CleanTech Science Environment Green Deals Policy Politics Smart Energy Latest stories Marking the milestones of 2013 Australia s transition to a clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Treasurers to talk GST reform 25 Nov 2013 6 00 AM Politics Economy Tax Hockey to meet state counterparts GST for online purchases to be on agenda You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password AAP Moves to slap GST on overseas online shopping purchases worth less than 1000 will be on the agenda when Federal Treasurer Joe Hockey meets his state and territory counterparts this week The treasurers will meet in Canberra on Wednesday from 0830 AEDT for the Standing Council on Federal Financial Relations the first since the change of government A spokeswoman for Mr Hockey said the meeting will focus on economic growth and ways to increase productivity The 1000 threshold at which the GST is collected on goods and services purchased from abroad will be on the agenda The treasurers will consider potential options on collecting the GST on online transactions if the threshold was to be lowered Australian businesses argue that while online shopping from foreign outlets may comprise a small component of the overall retail sector it s a fast growing trend being supported by an effectively GST free status on less expensive items The previous Labor government argued that significant reforms were needed within the tax system to handle the job otherwise the cost of collecting the tax would outstrip the revenue collected New South Wales Treasurer Mike Baird said his state had been pushing for reform on the low value threshold on GST for online overseas purchases for a long time It is about time we had a genuine discussion on the issues that matter and it s clear that under the

    Original URL path: http://www.businessspectator.com.au/news/2013/11/25/tax/treasurers-talk-gst-reform (2014-01-12)
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  • Income growth to halve: Gruen | Business Spectator
    And runner up Facebook must go further to mine precious user insights if it wants to compete Will Twitter s founder strike social gold twice Biz Stone is looking to tap into the selflessness of others with his latest venture Jelly Enterprises But the just launched app will have to quickly shift into something of real value if it s to become a mainstream success Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science Environment Green Deals Policy Politics Smart Energy Latest stories Marking the milestones of 2013 Australia s transition to a clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Income growth to halve Gruen 21 Nov 2013 5 13 PM Economy Australian News Tax Treasury forecaster expects slowest pace of income growth in 50 years You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password Income growth is set to halve over the coming decade to the slowest pace in half a century treasury forecaster David Gruen warns The Australian Financial Review reports According to the newspaper the head of treasury s macroeconomic group expects the falling terms of trade and retiring baby boomers will eliminate two key drivers of recent income growth Per capita income growth will fall to less than one per cent a year over the next decade compared with a two per cent average of the past 50 years he told a Sydney conference of economists the AFR reports A slump would affect tax revenues as demand for health care from the ageing population lifts Read Australia s irrevocable inevitable growth challenge on Australia s demographic dilemma Print this page Related articles 13 Jan Abbott to pursue red tape cuts 10 Jan Unemployment coming to a suburb near you 10 Jan Robb casts doubt on handouts 10 Jan Alcoa gives up on aid report 09 Jan A fast

    Original URL path: http://www.businessspectator.com.au/news/2013/11/21/australian-news/income-growth-halve-gruen (2014-01-12)
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  • Abbott must tackle 'crushing' tax burden: CIS report | Business Spectator
    Latest stories Marking the milestones of 2013 Australia s transition to a clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Abbott must tackle crushing tax burden CIS report 21 Nov 2013 12 31 AM 1 Politics Economy Tax Conservative think tank pitches plan it says would save 20bn a year You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password AAP Australians will be crushed under the burden of tax increases if the coalition government doesn t deal with its budget emergency a conservative think tank warns Faced with spiralling fiscal challenges from an ageing population and ever increasing health costs the Centre for Independent Studies CIS has recommended nine practical policies in a new report that would save the budget 20 billion a year Our nine tips provide a pathway to getting the budget back in the black said CIS research fellow Simon Cowan who is lead author of the report If the coalition are serious about addressing what they call the budget emergency they should act quickly to implement our recommendations now The report targets the massive impost of health and includes stopping the rorting of providers and consumers It says the Family Tax Benefit B is a wasteful form of middle class welfare paid to families earning up to 176 390 and should be scrapped It agrees with the coalition s abolition of the schoolkids bonus has called for the federal departments of education and agriculture to be scrapped and SBS and ABC3 to be shut down or sold It also calls for an end to what it describes as corporate welfare saving 8 billion a year Industry assistance has failed workers and suppliers particularly in automotive manufacturing with thousands of jobs cut despite the billions being pumped into the industry Mr Cowan said The alternative to these measures is ever increasing deficits and debt Australians

    Original URL path: http://www.businessspectator.com.au/news/2013/11/21/politics/abbott-must-tackle-crushing-tax-burden-cis-report (2014-01-12)
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  • Coalition scores mining tax win | Business Spectator
    the mining tax In parliament s lower house on Wednesday Labor failed to prevent passage of the government s Minerals Resource Rent Tax Repeal Bill which ends the impost along with a raft of incentives to be funded by its revenue This government has just voted to repeal support for the Australian families that need it most shadow treasurer Chris Bowen said A range of Labor policies face the axe under the bill including the schoolkids bonus the business loss carry back accelerated depreciation for motor vehicles geothermal exploration provisions the low income superannuation contribution and the income support bonus The government argued that the 30 per cent impost on the super profits of coal and iron ore producers had failed to generate its forecast multibillion dollar revenue netting only 400 million since its introduction Labor came out and said they were going to fund all these projects but it was reliant on a flawed tax and there was never any money there Liberal MP Michael McCormack said We can t continue to spend money that isn t there Independent MP Andrew Wilkie made a last ditch attempt to save the tax suggesting it be fixed rather than dumped What about expanding it to other resources Expanding it to gold Uranium Instead of having it restricted to a very narrow set of resources he said further suggesting that Australia s big four banks also be subject to a super profits tax The Tasmanian MP along the Australian Greens Adam Bandt sided with Labor for a vote on the bill which they lost 86 55 The bill will now be considered by the Senate where the government lacks the numbers for swift passage In the meantime the lower house will continue to debate the government s proposed ditching of the carbon tax with 11 associated bills set to go to a vote on Thursday afternoon Print this page Related articles 13 Jan Iran nuke deal to take effect 13 Jan Govt interest bills surging report 13 Jan Abbott to pursue red tape cuts 13 Jan Palmer wants to repeal Newman laws 12 Jan Israel s Sharon dead at 85 More from Business Spectator Technology Adapt or die Commercial The Future of Energy Family Business Alan Kohler s Family Business China China Spectator Please log in or register to post comments Comments on this article Comments Policy Stephen Earl Thu 2013 11 21 08 21 Not sure why this is considered a win If the Govt doesn t control the lower house it ain t the Govt Jn Edwards Fri 2013 11 22 11 49 Reflects the left wing bias of the press Barry Mitchell Thu 2013 11 21 09 17 Silly headline it s not a win until it passes both houses Jn Edwards Fri 2013 11 22 11 50 See above R Ambrose Raven Thu 2013 11 21 10 30 Well no it is a striking example of the reversal of the media s tone between Gillard Labor and the

    Original URL path: http://www.businessspectator.com.au/news/2013/11/21/politics/coalition-scores-mining-tax-win (2014-01-12)
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  • ATO to cut budget, 900 jobs | Business Spectator
    blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu ATO to cut budget 900 jobs 21 Nov 2013 12 03 AM Politics Economy Tax Bulk of job cuts tied to coalition plan to abolish mining tax You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password AAP The Australian Taxation Office ATO will shed 900 jobs over the coming nine months as it searches for budget savings with most of the job cuts linked to government plans to abolish its controversial mining profits tax The ATO said said about half of the 900 jobs would be from natural attrition and the remainder would be from voluntary redundancies from its 23 000 workers saving about 50 million this financial year While the ATO said it could not say which areas would be affected it said the abolition of the mining tax could lead to about 200 jobs cut from offices in Perth Melbourne and Brisbane Our best view is that we need to move our allocations down by about 50 million between now and the end of the financial year the ATO s Geoff Leeper told a Senate estimates hearing Our objective in announcing what we ve announced today was to take action which allows us to live within our budget for this financial year and to position us for the financial years that lie ahead The mining tax known as the Minerals Resource Rent Tax imposed a 30 per cent super profits tax on major iron ore and coal mine projects Laws to abolish the tax passed through the House of Representatives on Wednesday but faces a more difficult passage through the Senate The opposition and Greens have the numbers in the upper house to block the laws which may force the government to wait until the new Senate sits from July 1 2014 Mr Leeper said that while the abolition of the MRRT accounted for

    Original URL path: http://www.businessspectator.com.au/news/2013/11/21/politics/ato-cut-budget-900-jobs (2014-01-12)
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  • Tax | Business Spectator
    Latest stories Marking the milestones of 2013 Australia s transition to a clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Tax ATO warns looming IPOs on tax Tax office will freeze assets if foreign investors look to avoid paying local tax 7 36am November 20 ACCI repeats calls to axe taxes Small business survey shows conditions remain subdued unlike expectations 1 49pm November 18 Business fears carbon uncertainty Labor Greens stymie each other s push for an inquiry stoking business uncertainty 8 17am November 14 13 comments Miners cheer end of MRRT Industry glad as Hockey introduces bill to repeal the controversial tax 5 46am November 14 ATO asks wealthy to come clean Tax office may reduce penalties for those who voluntarily disclose hidden wealth 4 12am November 14 ATO to outsource tax checks Pilot program will see ATO allowing corporate auditors to review some companies accounts 7 23am November 13 Greenwich urges govt on diversity NSW MP lobbies for tax exemptions to lift number of mature age female workers 6 45am November 13 FBT blamed for auto sales dip Car industry says tax uncertainty sparked drop in auto sales 6 07am November 07 1 comment Coalition defers bank deposits tax Although absent from tax announcement plan to be referred to inquiry 5 39am November 07 3 comments Coalition stalls on GST threshold Govt will not give treasurer power to change overseas GST threshold 12 18am November 07 Industry doubts carbon tax claims Firms question whether carbon tax repeal will deliver 9 power price cuts 6 28am November 06 14 comments Govt to abandon super FBT reforms Coalition to scrap most outstanding tax super reform proposals 5 51am November 06 11 comments Govt to clear tax reform backlog Hockey Sinodinos reviewing nearly 100 proposals dating back to 2001 12 20am November 06 Hockey eyes tax backlog Treasurer to take the fate of 97 outstanding tax proposals to cabinet soon 7 44am November 04 Miners cheer draft MRRT legislation Miners say coalition s plan to scrap mining tax will boost investment 6 15am October 25 8 comments IMF denies wealth tax interest Recent report suggested it favoured tax on wealthy to reduce debt 2 54am October 25 1

    Original URL path: http://www.businessspectator.com.au/economy/tax?page=1 (2014-01-12)
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  • Tax | Business Spectator
    cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Tax Australia risks missing tech boom Start ups enticed by incentives moving operations overseas report 2 34pm January 08 3 comments KPMG chair urges govt on costs Andrew says govt must address high taxes costs to encourage investment 3 48pm January 03 5 comments WA to block online GST plan Buswell urges fairer distribution of tax will oppose plan to lower threshold 12 29pm January 03 1 comment Govt scraps small business tax breaks Instant asset write off reduced from 6 5k to 1k with MRRT repeal 1 45pm December 31 11 comments Sinodinos eyes super tax shake up Asst Treasurer wants super flexibility tax review to begin late 2014 report 9 31am December 27 5 comments End of the road for good money after bad The government was right not to bow to pressure to throw even more taxpayer funds at General Motors and instead direct the 100 million manufacturing industry package toward generating new and competitive activity by Stephen Bartholomeusz 5 54pm December 19 48 comments ATO chases cash cheats Small businesses operating in cash economy becoming more visible report 7 01am December 17 Tax reform top priority survey Private survey finds broadening of GST productivity top wish list for govt 11 29am December 16 3 comments Income tax has to go up The Coalition has made little headway in cleaning up Labor s structural deficit and nipping and tucking the budget won t offset election spending commitments by Alan Kohler 8 14am December 16 218 comments Govt must consider tolls BCA Business group says unpopular policies needed to close productivity gap 3 38am November 29 3 comments Treasurers eye online GST changes State treasurers report broad consensus after talks on lowering GST free threshold 1 18pm November 27 10 comments ATO asks for Rinehart documents Tax Office requests access to court documents in case over 5bn family trust 12 53pm November 27 Let s get negative about negative gearing Negative gearing should be on the Coalition s long term chopping block Easing out the costly housing distortion could save 5 billion in structural deficit and maybe if properly explained win back a vote or two by Rob Burgess 8 13am November 26 126 comments Online GST threshold clash looms Federal coalition Labor neutral on issue as states urge reforms 4 54am November 26 1 comment Oppn won t back GST changes Albanese says Labor won t support an extension of the GST Shorten

    Original URL path: http://www.businessspectator.com.au/economy/tax?destination=taxonomy/term/2967 (2014-01-12)
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