Mar 19, 2010
The international fight against cross-border tax evasion has taken a step forward with the initiation of a peer review group which aims to assess the progress made by nations in implementing internationally agreed standards of tax transparency.
On March 18th the Organization for Economic Cooperation and Development (OECD) announced the initiation of the first step in [...]
The international fight against cross-border tax evasion has taken a step forward with the initiation of a peer review group which aims to assess the progress made by nations in implementing internationally agreed standards of tax transparency.
On March 18th the Organization for Economic Cooperation and Development (OECD) announced the initiation of the first step in the most extensive and through international tax transparency assesment process that has ever been undertaken. Eighteen nations from the 91 participating members of the Global Forum on ... Read More
Mar 18, 2010
The Australian Government has made alterations to the Goods and Service Tax (GST) legislation, aiming to improve compliance and lower taxpayer costs. In an effort to raise taxpayer certainty, the Government has also cut over 100 provisions within the tax laws, which had previously allowed the Commissioner of Taxation an indefinite time period within which [...]
The Australian Government has made alterations to the Goods and Service Tax (GST) legislation, aiming to improve compliance and lower taxpayer costs. In an effort to raise taxpayer certainty, the Government has also cut over 100 provisions within the tax laws, which had previously allowed the Commissioner of Taxation an indefinite time period within which to amend a taxpayer’s tax assessment.
In a media statement released on March 17th, Nick Sherry, Assistant Treasurer of Australia and Senator for Tasmania, announced the introduction of ... Read More
Mar 5, 2010
The new National Account report, released by the Australian Government on March 3rd, shows that the country has continued its economic growth throughout the whole of the 2009 year, despite the contractions faced by advanced economies worldwide.
According to the December quarter figures, Australia’s GDP grew by 0.9 percent, bringing the yearly growth total to 2.7 [...]
The new National Account report, released by the Australian Government on March 3rd, shows that the country has continued its economic growth throughout the whole of the 2009 year, despite the contractions faced by advanced economies worldwide.
According to the December quarter figures, Australia’s GDP grew by 0.9 percent, bringing the yearly growth total to 2.7 percent. Comparatively, the Australian Treasury estimates claim that the world’s advanced economies as a group contracted by approximately 3.2 percent.
In a statement accompanying the release ... Read More
Feb 8, 2010
The Australian Government will soon cease to operate the Bank Funding Guarantee Scheme (BFGS), which aided the stability of the country’s financial institutions during the most significant global economic contraction since World War II.
Yesterday it was announced that from March 31st the Australian BFGS will be withdrawn, based on a recommendation from the Council of [...]
The Australian Government will soon cease to operate the Bank Funding Guarantee Scheme (BFGS), which aided the stability of the country’s financial institutions during the most significant global economic contraction since World War II.
Yesterday it was announced that from March 31st the Australian BFGS will be withdrawn, based on a recommendation from the Council of Financial Regulators. The scheme was established in October 2008 as a means of instilling a greater confidence in the Australian banking system by providing a guarantee on ... Read More
