Apples dollar 80.3 Million Australian Tax Bill Revealed

Apple paid just $80.3 million in Australian tax last year, despite making more than $6 billion in local revenue, accounts filed with the corporate regulator show. While a fraction of its overall income, Apple’s tax bill was more than double what it paid the previous year. The tax-expense figure, disclosed in accounts filed with the Australian Securities and Investments Commission, comes as a Senate inquiry prepares to grill the heads of Australian...

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Deflation Bigger Threat Than Inflation: AMP

Global deflation is now a bigger threat to economic stability than a surge in inflation, according to AMP’s chief economist Shane Oliver. Since the global financial crisis, economists have warned that easing monetary policies would cause skyrocketing inflation and would whittle away at the value of currencies around the world. But this prediction “simply hasn’t occurred”, Dr Oliver said in a note published today. In fact, Dr Oliver said a renewed...

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Australia’s Richest Blow 5 Billion

Group of Australia’s richest individuals and families has lost more than $5 billion combined on the stockmarket in the past 12 months, with shares hit hard by falling commodity prices and uncertain economic conditions. Billionaire big names such as Andrew Forrest, James Packer and Kerry Stokes have experienced big falls in their shareholder wealth, though Frank Lowy has bucked the trend with his Westfield Corporation shares up about 50 per cent...

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ANZ Survey Shows Job Ads Rising For Seventh Month In Row

JOB advertisements have risen for the seventh month in a row, signalling better times ahead for jobseekers. Job ads rose 1.8 per cent in December and were up 11.4 per cent for the year, according to the ANZ Job Ads survey today. ANZ chief economist Warren Hogan said the figures showed the economy was continuing to produce new job opportunities but not enough to keep up with the number of new entrants to the workforce or job losses in certain...

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Shopping Tax Change Would Mean Shoppers Paid More

It’s the latest conundrum facing the federal government. Closing a loophole that allows shoppers to spend $999.99 on overseas goods without having to cough up the 10 per cent GST at home might be unfair to Australian retailers who do have to add on the tax to their goods, but it means that consumers get a slightly cheaper price. News that the federal government will examin the issue as part of its upcoming White Paper on taxation is news...

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Benefits of Outsourced audit services

Auditing is the key function to “checks and balances” and is one of the fundamental element for good governance of corporate business. The question which always agitates the Board of Directors of an organization is “How competent and efficient is the internal audit team in the organization?” Most companies pay hugs to Auditors who are responsible for managing your taxes...

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