Business Council Of Australia Seeks Tax Answers From Liberal Pollster

One of Australia’s most influential lobby groups, the Business Council of Australia, has commissioned Liberal Party pollsters Crosby Textor to conduct private research on changes to the tax system, including the GST. In a clear sign the BCA has heeded Prime Minister Tony Abbott’s call for help last year to make the case for tax reform in Australia, Crosby Textor will conduct qualitative and quantitative polling for the organisation. The research comes as the Abbott government prepares to launch a sweeping review of Australia’s tax system in...

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Australias Record Jobs Growth Is A Game Changer

The December jobs number was a fairly pivotal report. It’s a game-changer, as it shows the nation enjoyed the strongest jobs growth on record in three months to December. In fact, 188,000 jobs were created over that period (original terms), which compares to more ‘normal’ jobs growth of about 90,000 (10-year trend over that period). That’s a fantastic outcome, yet somehow the Australian Bureau of Statistics reckons this equates to jobs growth of about 100,000 when you adjust for seasonality. That’s still strong — the best result in about a decade...

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Australia Launches Online Visa Pilot Programme For Indians

A pilot programme was today launched to make it easier for Indian business and tourism visitors to apply online for travel to Australia. The pilot programme, which has been kicked off on a trial basis, covers online lodgement of subclass 600 visas for Indian business and tourism visitors. It will be rolled out through selected travel agents across India. “India is one of the world’s fastest growing outbound travel markets. This trial will make it easier for Indian visitors to apply for visas to travel to Australia,” Australia Trade and...

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Tax Office Targets Rental Property

Owners of rental properties may need to exercise greater prudence when it comes to assessment of rental incomes and tax expense claims in 2015. The Australian Tax Office (ATO) has indicated that it will expand the scope of its investigations of the rental incomes and expense claims of owners of residential properties this year as part of efforts to ensure that taxpayers pay the appropriate amounts. According to the ATO, it still faces an ongoing problem with taxpayers making errors with respect to either assessment rental revenues or...

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Australian Equities Market

In Australia, the Performance of Services index is released. In the US, trade data is expected together with the ADP employment report and the minutes of the last Federal Reserve meeting. OVERNIGHT MARKETS US Equities US sharemarkets fell again on Tuesday. Economic data was weaker-than- expected, lower oil prices weighed on energy stocks and investors continued to fret about the European economy. At the close of trade, the Dow Jones was lower by 130 points or 0.8%, after earlier being down 239 points. The S&P 500 index was down by0.9%...

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