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Australian govt reneges on promise to cut company tax for big businesses

CANBERRA: The Australian government has reneged on a promise to cut company tax for big businesses. However, Prime Minister Tony Abbott said promised tax cuts for small firms would go ahead in the 12 May budget. The government would also not increase taxes on superannuation (pension funds) during this term, he said at a business lunch in Sydney. He said ... Read More »

Emergence of new technology proving to be problematic for Australia’s tax system

CANBERRA: The emergence of new technology is proving to be problematic for Australia’s tax system, according to a new discussion paper by the Australian government. The government’s Re:think tax discussion paper, released, points to new technology, along with the digitisation and globalisation of the economy, as being among the prime suspects behind the trend for multinational companies to engage in ... Read More »

Australian govt orders China Firm to trade dishonestly-bought Mansion

CANBERRA: Australia’s government has ordered a company owned by China’s Evergrande Real Estate Group Ltd. to sell a A$39 million ($31 million) Sydney mansion as it cracks down on illegal home-buying by foreigners. Golden Fast Foods Pty has 90 days to sell Villa del Mare in the harborfront suburb of Point Piper, Treasurer Joe Hockey said in a statement Tuesday. ... Read More »

Australian govt orders China Firm to trade dishonestly-bought Mansion

CANBERRA: Australia’s government has ordered a company owned by China’s Evergrande Real Estate Group Ltd. to sell a A$39 million ($31 million) Sydney mansion as it cracks down on illegal home-buying by foreigners. Golden Fast Foods Pty has 90 days to sell Villa del Mare in the harborfront suburb of Point Piper, Treasurer Joe Hockey said in a statement Tuesday. ... Read More »