PM Gillard willing to intervene in Woodside's gas project in E. Timor
Australian Prime Minister Julia Gillard said she is amenable to discuss a disputed natural gas project in East Timor to gain support for asylum seekers.
Gold miners hint of reservations on Gillard’s new mining tax
Gold mining executives based in North Queensland has expressed reservations today that the federal government could again effect changes on the super profits mining tax once it gained re-election.
WA’s high energy costs highlight payment difficulties and charity burdens
West Australians appeared to be encountering mounting difficulties in meeting their electricity bills even as the state’s electricity distributor, Synergy, has disclosed that unpaid power bills rose to $8 million last year and the company currently maintains collectibles up to $9 million.
ACCC delays new ruling on BHP-Rio Tinto merger operation in Pilbara
The Australian Competition and Consumer Commission (ACCC) said on Wednesday that its anticipated findings on the proposed merger of the country’s two giant mining companies would be further delayed, as it announced that the suspension was made “at the request of the joint venture parties to allow them to make additional submissions to the ACCC.”
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Defence chief Faulkner likely to relinquish post
Australian Defence Minister John Faulkner will announce that he will quit his job in the ministry after the next national elections, which Prime Minister Julia Gillard would likely call by year's end.
NAB chief approves Cooper review of superannuation system
The National Australia Bank (NAB) is welcome to most of the recommendations of the Cooper review of the superannuation industry and declared that the reforms being suggested by the reports were fundamentally good for the country’s retirement system.
RBA leaves cash rate untouched for July
The Reserve Bank of Australia (RBA) has decided to provide reprieve to Australian homeowners as it left the official cash rate untouched at 4.5 percent this July, in a move that is largely anticipated by most economists due to concerns on major inflation data that would be known by the end of the month.
Burke says new regional centers and cities should ease stress in capitals
Tony Burke, Sustainable Population Minister of Australia, says that better regional centers are the solution to infrastructure stress and urban sprawl piling up in the capitals.
ATO yet to give in on Linux, Mac e-tax
The ATO (Australian Tax Office) has remained stalwart on its position in compelling Australian taxpayers to submit tax returns electronically via Windows-only applications.
McLindon pushes to turn Cairns into ‘AusVegas’
Aidan McLindon, Queensland MP, has announced that he will push through with his plan of turning Cairns into Australia’s Las Vegas, despite the city mayor’s rejection of the plan.
New mining tax: the best deal that the resource industry must live with
The mining industry must live with the revised resources tax since it is the best available deal that could be cut out from the Gillard government for now, and junior mining companies who felt left out from the negotiations must speak out now and grab the chance to be heard.
Moody’s says Rio Tinto and BHP are biggest beneficiaries of MRRT
The federal government’s mineral resource rent tax on mining companies could leave the country’s giant resource industry players largely unscathed as compared to the now-presumed dead resource super profits tax’s possible dreadful effects, that according to rating agency Moody’s Investors Services.
Government 'dishonest' on restructured tax earnings
The Gillard Government has been untrue in its account of the effect of the revamped resources tax on forward revenue, the Coalition says.
Brown pledges to scrutinise new tax
Senator Bob Brown on ABC television last night pledged to put the revised tax through a ''very close Senate scrutiny'' with a purpose of studying the repercussions on small business.
Cooper review enumerates failures
The Cooper superannuation review has held a highly interventionist method to regulation after enumerating extensive cases of market failure in Australia's $1.3 trillion superannuation industry.
Cut pension fees, says government review
The pension industry should offer a new standardised fund with lower charges to help employees save an additional $40,000 (US$33,700) for their retirement, according to a government-commissioned review overseen by Jeremy Cooper, former deputy chairman of Australia's markets regulator.
ASIC calls for vigilance on companies’ financial reports
The Australian Securities and Investments Commission (ASIC) called on companies on Monday that they need to exercise vigilance in submitting their financial reports especially this result season, as it warned supposedly erring firms that the agency is bent on scrutinising hundreds of firms for closer reviews.
Cooper review calls for major revamps on superannuation system
The Cooper Review is finally out and among its major recommendations is the formal establishment of a default superannuation to be labelled as MySuper, which is aimed to simultaneously slash superannuation fees and fatten retirement funds.
New tax measures won't affect Australian Federal budget
Treasury Secretary Ken Henry has assured that the Australian government's national budget will not be at risk because of the lower revenue estimates since the landmark deal on the proposed tax on resources was finalised last week.
WA Premier Barnett says new tax deal could face legal questions
Debates on the revised mining tax could be far from over as Western Australia Premier Colin Barnett said over the weekend that the new identity of the proposed tax could face some legal challenges as it now appeared to be levied on mineral resources instead on corporate profits.
Reserve Bank may keep rates unchanged
The Australian central bank may keep its benchmark interest rate unchanged for the second month as inflation rates are seen to be in the upside keeping consumers on the sidelines.
Greens say mining deal would impact on taxpayers and government services
The Australian Greens said over the weekend that the federal government’s policy reversal on the resource super profits tax would result to higher taxes for Australians and could eventually lead to the scrapping of several national services.
Reserve Bank may keep rates unchanged
The Australian central bank may keep its benchmark interest rate unchanged for the second month as inflation rates are seen to be in the upside keeping consumers on the sidelines.
Macquarie aid comes after dinner
Reports are calling the government's effort in assisting Australia's banks during the height of the world financial crunch an after-dinner mint after discovering that Macquarie Group chief executive Nicholas Moore held a private dinner for then financial services minister, Senator Nick Sherry days before the help came in.
Mining tax changes will not raise debt
The Gillard government's mining tax deal will not likely lead to an increase in debt issuance, according to analysts.
Gillard still willing to talk about new mining tax
Australian Prime Minister Julia Gillard says further consultations and talks will be held with the mining industry players regarding the new mining tax implementation.
Junior miners haggle with Ferguson
Talks over the Gillard government's watered down mine tax announced on Friday carry on as junior iron ore companies propose further concessions in a meeting with Resources Minister Martin Ferguson in Perth today.
Abbott promises to rescind new mining tax if Coalition wins
Tony Abbot promises to rescind PM Julia Gillard’s new tax on mining if the Coalition wins the elections despite mining giants supporting the new deal.
Fortescue’s Forrest calls on PM Gillard to talk with local miners about new tax
Andrew Forrest, chief executive officer of Fortescue Metals says that PM Gillard’s new tax on mining had placed only a “reasonable framework” for further negotiations.
More superannuation funding ensures comfortable retirements for millions of Australians
An industry group lauded the federal government’s increasing commitment to the country’s superannuation system and declared that millions of Australians are set to enjoy comfortable retirement, thanks to further payments earmarked to the fund as afforded by the revised mining tax.
Burke not to intervene with China apples
Tony Burke, Minister of Federal Agriculture has announced that the government will not intervene with the China apple imports, dowsing hopes of the local apple industry.
Melbourne professor calls mining deal as scary prospect for democracy
An economist, who along with 19 economic experts signed a letter of support for the now revised resource super profits tax, said today that the announced mining tax compromise would send a chilling signal that determined corporate manoeuvrings could actually influence government policy decisions.
Australian government shelves 40 per cent tax on mining
The Australian government has dropped intentions for imposing 40 per cent tax on thriving mining profits on Friday, preventing a damaging row with key business players and paving the way for smooth national elections.
Retailers score slash in corporate tax due to mining tax deal
The Australian Retailers Association (ARA) scored today the federal government’s backtracking move on the planned company tax rates as a result of its revised mining tax which has been adjusted to collect $1.5 billion less revenue from the previously announced set up.
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