Amazon is much, much more than a bookseller. The question is, how long will Australians have to wait to fully experience it? The e-commerce giant reported quarterly results this morning Australian time and Wall Street loved them. In after-hours trading, the stock soared by more than 17 per cent, pushing the company’s market value beyond $US250 billion ($340 billion) and […]
Oil crash could be ‘far worse than 1986’, says Morgan Stanley
Oil crash could be ‘far worse than 1986’, says Morgan Stanley Morgan Stanley has been pretty pessimistic about oil prices in 2015, drawing comparisons to the some of the worst oil slumps of the past three decades. The current downturn could even rival the iconic price crash of 1986, analysts had warned – but definitely […]
Another grim year for commodities as global supplies rise: World Bank
Another grim year for commodities as global supplies rise: World Bank The outlook for commodities remains grim for this year, except that oil will fall a bit less than previously forecast, the World Bank said. Average prices for fuels such as crude, natural gas and coal will tumble 39 per cent from 2014, while those for […]
New Zealand central bank cuts rates, flags further easing
New Zealand’s central bank cut interest rates for a second time in six weeks and said further easing will likely be needed to stoke inflation as growth slows. Today’s move “is warranted by the softening in the economic outlook and low inflation,” Governor Graeme Wheeler said in a statement Thursday in Wellington after lowering the […]
Glenn Stevens Below-trend growth shapes as the new trend without reform
Glenn Stevens Below-trend growth shapes as the new trend without reform Adrian Blundell-Wignall’s Anika Foundation lunch in July has become one of the more interesting whistle-stops for Reserve Bank governor Glenn Stevens. The Anika speeches are always anticipated by the markets, because they precede the August meeting of the central bank, one of the “live” meetings that […]
need2know: Miners may drag on ASX
need2know: Miners may drag on ASX Local shares are poised to open flat, though weakness in commodities may weigh on resource producers. What you need2know SPI futures down 2pts at 5550 AUD at 73.75 US cents, 91.44 Japanese yen, 67.54 Euro cents and 47.26 British pence On Wall St, S&P 500 -0.2%, Dow -0.4%, Nasdaq -0.7% In […]
Lost super by postcode
The following data provides a breakdown of the lost super by postcode as at 31 December 2014. State Total no. of accounts Value of accounts ACT 22,270 $248,435,330.45 NSW 405,079 $4,212,608,046.21 NT 23,819 $208,096,039.80 QLD 274,790 $2,722,734,421.04 SA 72,238 $680,425,943.04 TAS 22,160 $198,112,427.52 VIC 264,330 $2,736,093,306.68 WA 207,075 $1,518,250,373.92 Total 1,291,761 $12,524,755,888.66* Find out more […]
Tax residency rules to change for temporary working holiday makers
Tax residency rules to change for temporary working holiday makers In the 2015-16 Federal Budget, the government announced that it will change the tax residency rules for most people who are temporarily in Australia for a working holiday. These people will be treated as non-residents for tax purposes, regardless of how long they are here. […]
Notify us of your agricultural land interests
Notify us of your agricultural land interests The Agricultural Land Register collects data on purchases, sales and transfers of agricultural land to increase transparency around foreign investment in Australian agriculture. The register became operational on 1 July 2015. If you are a foreign person or foreign government investor and you have an existing interest in agricultural […]
Reduced penalty period now open for foreign investors
Reduced penalty period now open for foreign investors The ATO are offering reduced penalties for foreign investors who disclose possible breaches of Australia’s foreign investment rules for purchases of Australian real estate. The reduced penalty period (RPP) is only available until 30 November 2015. From 1 December 2015 new criminal and civil penalties will apply. If […]
Capital allowances
Capital allowances Capital allowances: effective life review for certain determinations in Table A of Taxation Ruling TR 2015/2 – review to begin We are reviewing certain determinations in Table A of Taxation Ruling TR 2015/2 – ‘the schedule’ to make new effective life determinations. You use effective lives to work out how much you can claim […]
Gerry Harvey dismisses talk GST too costly to collect on overseas purchases
Gerry Harvey dismisses talk GST too costly to collect on overseas purchases Outspoken retailer Gerry Harvey today dismissed claims that the GST on overseas online purchases would cost more to collect than it raises. The founder of Harvey Norman said the Australian government had already spent a “fortune” investigating the impact of cutting the GST threshold on overseas online purchases, […]
D-Day looms for plans- Stockland Glendale
IT’S judgment day on Thursday for two big Lake Macquarie projects worth a combined $83 million. The Joint Regional Planning Panel will consider the $23 million Whitebridge plan and the $60 million Stockland Glendale expansion. Lake Macquarie City Council staff assessed both plans and concluded they should get the green light. The Whitebridge plan has […]
RBA’s Glenn Stevens: Australia may need to rethink growth
RBA’s Glenn Stevens: Australia may need to rethink growth Australian policymakers may need to adjust their idea of the country’s ideal growth rate to account for slowing population growth and other demographic changes, Reserve Bank of Australia governor Glenn Stevens says. Mr Stevens told attendees at the annual Anika Foundation lunch in Sydney that better than expected unemployment rates and signs business confidence had […]
Has unemployment peaked in Australia? No, says ANZ
Unemployment could remain around 6 per cent for some time, according to ANZ, with the economy’s growth rate not strong enough to bring it down . Unemployment came in at 6 per cent in June, up from May’s 5.9 per cent figure but down slightly from results in earlier months. Below-average output growth suggests that a […]
