Game-changers: Economic reform priorities for Australia - Grattan Institute. Overall look at tax reform is vital. Roger Beale We are in the middle of what many in the business community see as the wrong tax debate.
Business is being asked to relinquish important depreciation and research and development tax concessions and face harsher thin capitalisation rules to fund a small reduction in overall business tax rates. Many see this as a zero sum game and the gains for the community through growth are likely small. Australia has enjoyed strong real per capita income growth over the past 20 years but that level of growth is at risk in the decade ahead. Australia holds an enviable position as one of the few OECD nations with a strong government credit rating and low debt across all levels of government. In the 1990s our income growth reflected large productivity gains as the fruits of economic reforms over the years from 1983 were reaped. Miners should pay a premium. Richard Denniss Listening to the mining industry complaining about the high exchange rate is like listening to a three-year-old complaining about the noise of their own tantrum.
It simply adds insult to injury. The surge in world demand for our resources and the flood of foreign money into Australia to buy or build mining assets has been a major driver of the 43 per cent surge in the exchange rate from $US0.736 in 2004 to $US1.056 now. As the Australian dollar hit the $US0.80 mark the strain on other exporting sectors began to show, particularly in manufacturing, tourism and agriculture. ABS statistics show the steady decline in employment in manufacturing from 1,051,100 in 2004 to 962,100 today. QE3 – it’s the feel-good factor.
RATE falls will spur innovation PIMCO. The man behind Mad Men.
US quantitative easing a point of interest for RBA - The Drum Opinion. Find More Stories US quantitative easing a point of interest for RBA. RBA’s levers work well – Debelle. RBA who's buying AUD. The man behind Mad Men Mad Men creator Matthew Weiner is the slightest bit touchy about his reputation as a control freak.
Personal data held by ACCC leaked Australia’s competition regulator has been hit with an embarrassing security lapse after its confidential email subscriber list was leaked online. How Millennial are you? Take Pew Research’s quiz to determine on a scale of 0 to 100 your generation and whether you’re more Millennial than you think. ‘Brace for falling living standards’ Professor Ross Garnaut and Dr Martin Parkinson at Wednesday’s International Monetary Fund conference.
Photo: Sean Davey Jacob Greber, Sophie Morris and Joanna Heath Ross Garnaut, the Hawke government economist who predicted the rise of China, has warned Australians to prepare for a living standards bust as the resources boom gives way to falling export prices and a slump in mines development. Big four 'exposed' to Chinese slowdown. Tree of life Jamie Walker A LITTLE red berry that no animal will eat could provide a new weapon against cancer.
The colour of money SHARON VERGHIS AS government funding for the arts dries up, big business is increasingly plugging the gap, but that can be an ethical and political minefield. Overall look at tax reform is vital. Miners should pay a premium. Listening to the mining industry complaining about the high exchange rate is like listening to a three-year-old complaining about the noise of their own tantrum.
It simply adds insult to injury. The surge in world demand for our resources and the flood of foreign money into Australia to buy or build mining assets has been a major driver of the 43 per cent surge in the exchange rate from $US0.736 in 2004 to $US1.056 now. As the Australian dollar hit the $US0.80 mark the strain on other exporting sectors began to show, particularly in manufacturing, tourism and agriculture. ABS statistics show the steady decline in employment in manufacturing from 1,051,100 in 2004 to 962,100 today. For the first time in decades manufacturing employment is consistently below one million. IMF warns house prices pose big risk for banks. Amid risks, IMF backs budget surplus. IMF deputy director for Asia-Pacific Masahiko Takeda says Australia has left itself vulnerable to external shocks through its dependence on the mining sector for growth.
Photo: Michele Mossop Joanna Heath and Jacob Greber The International Monetary Fund has given a strong tick of approval to the Gillard government’s budget surplus target, but warns that any collapse in China would send Australia’s housing market into a tailspin. The Washington-based fund said the present level of official interest rates and fiscal policy settings were “appropriate” and had given Australia the flexibility to take action if the global economy collapsed.
“With expected inflation within the target range, the strong Australian dollar, and given efforts to return the budget to surplus this year, monetary policy should remain accommodative, and should act as the first line of defence against near-term adverse shocks,” the fund said in its latest Article IV consultation. Stock surges but analysts say Fortescue debt deal a short-term fix. Fortescue Debt Analysis. Mal Maiden: DJ's down, Fortescue up David Jones has announced a 40% drop in earnings whilst Andrew Forrest has bought Fortescue some time.
BusinessDay columnist Malcolm Maiden analyses the latest business news. 19, 2012 Fortescue has solved its debt problem with - wait for it - more debt and, equally worrying, its iron ore price expectations for next year are now out of kilter with those of the federal government. Fortescue's thumping $US4.5 billion refinancing deal was well received yesterday and the company's shares were up again this morning, rising another 17 cents, or 4.9 per cent, to $3.67 in late morning trade. Costs blowout makes LNG no sure thing. Suncorp Hybrid raising. The man behind Mad Men Mad Men creator Matthew Weiner is the slightest bit touchy about his reputation as a control freak.
Personal data held by ACCC leaked Australia’s competition regulator has been hit with an embarrassing security lapse after its confidential email subscriber list was leaked online. NAB to make muscle felt in online share trading. Court shields APRA in NAB class action. Westpac presses the wealth button. MLC aims at safety first for retirees. Australians can now expect to spend 25 years in retirement, so they need exposure to growth assets. Photo: Leanne Hartley Leng Yeow National Australia Bank’s wealth management business, MLC, will unveil its new suite of capital-protected retirement solutions later this week, targeting Australia’s growing number of retirees. MLC Masterkey Investment Protection will compete head-on with AMP’s North platform, which was the sticking point in NAB’s unsuccessful battle with AMP last year for control of AXA Asia Pacific.
It offers two forms of protection; protected capital and protected income, and is targeted at people either in, or approaching, retirement with superannuation assets of between $30,000 and $2 million. According to Barnett, consumer demand for capital-guaranteed solutions is high, with investors prioritising safety and peace of mind in the midst of ongoing volatility in equity markets. It was second only to Axa’s Charter Financial Planning with $435 million. Tax office survey reveals SMSF growth spurt. DIY super John Wasiliev Do-it-yourself superannuation funds are attracting support in an impressive fashion, with new funds being set up at an average rate of 3000 a month over the past financial year, making it the second most active year since 1995.
According to the latest Australian Taxation Office quarterly survey of DIY funds, nearly 7200 funds were established during in the June quarter, raising the total for the 2011-12 financial year to 36,270. Only the explosive 2006-07 financial year, when nearly 45,700 new funds were created at an average rate of 3800 a month, was busier.
ANZ slams the brakes on Hong Kong acquisition. Former franchisees sue BoQ over losses. IAG clears up $NZ3.5m claims error. The insurer discovered an error in its modelling after the surge in claims from the Christchurch earthquakes. Photo: Don Scott. iSelect seeks funding in return for IPO schedule. How 3D printing is revolutionising guitar-making. Boost for BlueGen as power home generator wins concession. Innovative solutions . . . Andrew Neilson, right,and managing director Brendan Dow of Ceramic Fuel Cells Photo: Paul Jones Christopher Jay ACSIRO-originated, Melbourne-based producer of micro fuel cell power generation units, which generate electricity from natural gas, will be a big winner from a landmark decision by the Victorian government to extend small-scale electricity feed-in tariffs beyond the traditional solar and wind turbine power techniques.
Can smart grids pay their way? On cusp of another wave of computing innovation. The rise of additive manufacturing. 24 May 2010 | By Jon Excell, Stuart Nathan. Collaborative manufacturing: All together now. The current and future economics of 3D printing and factory production - companies like Zara that leverage new capabilities for new business models. Austechexpo.com Austech - Australia’s premier advanced precision manufacturing and machine tool exhibition. 13 March 2012. Changing manufacturing layer by layer.
Transcript. Future Manufacturing National Research Flagship: manufacturing a cleaner future. The next big thing: additive manufacturing. 3D printing revolutionises manufacturing - The Business. Local firm leads with 3D manufacturing. Solution to fading boom. Peter Sheehan and Bob Gregory.