POWER TRIP: Australian electricity price high, and to rise with carbon tax
AUSTRALIANS pay 130 per cent more for electricity than Canadians, according to new research - a power premium to rise to 250 per cent once the carbon tax and locked-in price increases take effect.

The research, which will be made public today, claims household charges are already 70 per cent higher than the American average, a figure that will grow to 160 per cent in two years. Japanese, British, French, Irish and New Zealanders all pay less than we do.

Economic growth remains sluggish, says survey
THE Australian economy will continue to grow at a sluggish and below-trend pace, an industry study shows.

The Westpac-Melbourne Institute leading index of economic activity, which indicates the likely pace of activity three to nine months into the future, posted an annualised growth rate of 2.6 per cent in January.

This fell below its long-term trend of 3.0 per cent, Westpac said on Wednesday.

Increased Parliamentary scrutiny of the ATO foreshadowed

Go to fullsize imageThe need for greater parliamentary scrutiny of the ATO has been foreshadowed in a Parliamentary Committee's report on its eighth biannual hearing with the Commissioner

Fringe benefits tax - notice of non-lodgment

Go to fullsize imageComplete this form for clients that are registered for fringe benefits tax (FBT) and do not have an FBT liability. We are reviewing FBT return lodgments and may be contacting you if your clients that have outstanding FBT obligations.

Workforce education news - Issue 6/2011

Go to fullsize imageThis sixth issue of Workforce education news for 2011 covers topics affecting employers, employees, professional associations and their members. Topics include superannuation and tax time information. Issued in August 2011.


Running balance account - applying of credits

Go to fullsize imageThis measure amends the Taxation Administration Act 1953 to ensure it will not be mandatory to apply a payment, credit or running balance account surplus against a tax debt that is a business activity statement amount unless that amount is due and payable.

Endorsement as charitable institution partially successful

Go to fullsize imageA taxpayer has been partially successful before the AAT in seeking to be endorsed as a tax exempt entity and a deductible gift recipient

Future of Financial Advice: further details; accountants' exemption

Go to fullsize imageThe Assistant Treasurer has released a paper containing further details of the Future of Financial Advice (FoFA) reforms


Is your client buying, selling, renting or building a property?
Go to fullsize imageWe have created a new consolidated property page on our website to provide you and your clients with a range of property tax-related information.
Personal Injury Claims and Bankruptcy

Go to fullsize imageSection 82 of the Bankruptcy Act deals with those debts which are provable in bankruptcy. As would be expected, the debts which are claimable include those that might be thought of normal debts incurred by an individual in ordinary living or in the usual conduct of his or her business.

When chairs, CEOs need to know

Go to fullsize imageCorporate governance, ethics and the all-important perceptions of both were highlighted this week in the UK Parliament during a select committee's grilling of News Corporation chair and CEO Rupert Murdoch, News Corporation (International) chair and CEO James Murdoch and former News of the World (NOTW) editor Rebekah Brooks.

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