The Economy

 

Lack of gender diversity costs energy companies millions: EY index

Nassim Khadem 12:00 AM   EY's Women in Power and Utilities Index 2015 has measured an average return on equity of 8.5 per cent for the global top 20 utilities that are gender diverse.

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Ross Gittins

Last phase of resources boom just starting

Ross Gittins

Ross Gittins   If you think the resources boom is all over bar the shouting, someone who ought to know begs to differ.

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Time for the RBA's drop to stop

Michael Pascoe dinkus Dinkus

Michael Pascoe   The Reserve Bank should think twice if it is using journalists to prepare the market for its rates decisions.

Australia's AAA rating not in danger, Joe Hockey says

Treasurer Joe Hockey" "There is no suggestion of a risk. None."

Matt Siegel and Paul Ingrassia   There is no risk of Australia being stripped of its topnotch credit rating, Treasurer Joe Hockey says, and flags tougher rules to stop tax avoidance by multinationals.

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Tax commissioner gains new powers

Tax Commissioner Chris Jordan's new powers can only be used in favour of taxpayers.

Nassim Khadem   New powers for the tax commissioner is designed to benefit taxpayers.

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Google paid $11.7m tax, but there's 'more we can do'

Tax experts fear a new Google tax akin to that which came into play in the UK on Wednesday.

Nassim Khadem   Google Australia's tax bill has risen by $4.6 million to $11.7 million, but the technology giant still hasn't counted its lucrative search engine business revenue that gets instead counted offshore.

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Reserve Bank to cut rates on Tuesday in face of weak economy

Investors await Tuesday's policy decision from RBA governor Glenn Stevens.

Peter Martin   Concern about a deteriorating economic outlook and a resurgent Australian dollar will force the Reserve Bank to cut interest rates to an all-time low on Tuesday.

Singapore not a tax haven, it's a value-adding hub

The SuperTree by IndoChine, one of Singapore's great attractions, in addition to its low tax rates.

Nassim Khadem   Australian corporations are offshoring billions of dollars in Singapore to minimise tax.

ATO cracks down on rich older SMSF members avoiding tax

The ATO said 200 individuals have been identified as using such structures, and more than 25 private rulings have been issued, resulting in new tax bills.

Nassim Khadem   The Tax Office is honing in on self-managed super funds (SMSFs) claiming franking credit benefits and paying no tax.

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What is a AAA credit rating and why does Australia need one?

Treasurer Joe Hockey faces a squeeze.

Jonathan Shapiro   What is this rating, where does it come from, and does it matter? Your AAA-rating questions answered.

Australia at risk of losing AAA rating, Goldies says

AUSTRALIA'S CREDIT RATING. PHOTO-ILLUSTRATION BY TODD GORDON. 3RD OF JULY, 1997.

Stephen Cauchi   Australia's ''poor fiscal performance'' could lead to credit rating agencies downgrading its prestigious AAA credit rating, says Goldman Sachs.

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Singapore still top hub for multinationals, tax data shows

Night market on Trengganu Street, Chinatown, Singapore

Nassim Khadem   Australian companies sent more than $64 billion to related parties in Singapore and Switzerland, where they pay little or no tax at all.

Here's why the RBA may hold steady on rates next week

A rate cut is likely, economists say, but the market is skittish after comments from RBA governor Glenn Stevens.

Vanessa Desloires   Next week's Reserve Bank decision on rates is fast becoming a line-ball call, as evidence mounts against the rationale of a cut. Here's why the tide is turning.

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Deficits can lift the economy, says Buiter

Citigroup chief economist Willem Buiter said that better infrastructure could help alleviate Sydney's housing bubble.

Stephen Cauchi   Australia should accept budget deficits and build its infrastructure for economic growth, instead of worrying about problems it doesn't have, economist Willem Buiter says.

Negative gearing tax claims fall thanks to low interest rates

Falls in interest rates have cut the amount landlords are claiming in tax deductions.

Nassim Khadem   The value of negative gearing tax deductions claimed by Australia's nearly 1.3 million landlords is falling, dropping close to $2 billion in a year thanks to record low interest rates.

Reserve Bank governor warns of pressures on retirement income system

Those on the brink of leaving the workforce are in a much worse position than those who retired a decade ago: RBA governor Glenn Stevens.

Gareth Hutchens and Clancy Yeates   Reserve Bank governor Glenn Stevens has warned that global retirement income systems are under a lot of pressure, and people on the verge of retiring are in a "much worse position" than those who retired a decade ago because the cost of purchasing an annual flow of future income has gone up "a lot."

Australia's richest and poorest postcodes revealed

Position: Taxation statistics reveal the enormous pay gap between the richest and poorest.

Nassim Khadem   Australia's richest live in harbourside Sydney and earn more than eight times the nation's poorest, Tax Office statistics show.

Could Apple become bigger than Australia?

The new names are replacing the old. Apple is the next IBM

Gareth Hutchens   Apple's latest financial results show its market capitalisation is worth roughly $980 billion while Australia's economy is worth $1.58 trillion.

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RBA governor warns retirees in bad position, criticises banks

Glenn Stevens

Gareth Hutchens and Clancy Yeates   Reserve Bank governor Glenn Stevens has warned that people on the verge of retiring are in a "much worse position" than those who retired a decade ago, because global retirement income systems are under a lot of pressure and the cost of buying an annual flow of income has "gone up a lot."

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Rio Tinto hits back at ATO claims it doesn't pay enough tax

Rio Tinto Australia CEO Phil Edmands says Rio Tinto pays a "huge amount of tax".

Nassim Khadem   Rio Tinto Australia managing director Phil Edmands has hit back at claims by Tax Commissioner Chris Jordan that the miner isn't paying enough tax.

Barack Obama warns of anti-globalisation sentiment in both parties

Barack Obama sees an anti-globalisation streak in both parties.

Angela Greiling Keane and Mike Dorning   President Barack Obama said the rising anti- globalization sentiment in factions of both political parties risks a withdrawal by the U.S. from global economic competition and stymied growth.

10-year-old leads charge against super tax breaks

Super tax breaks ad

Nassim Khadem   A GetUp video featuring a 10-year-old campaigning for changes to superannuation concessions has already attracted 130,000 views since the weekend.

Sydney housing affordability worsens despite low rates

Sydney and Melbourne households are spending a growing share of their incomes on mortgages, Moody's says.

Clancy Yeates   The share of household income needed to pay off a home loan for a typical house in Sydney is near a ten-year high.

'Big boost for manufacturing' as $A drops

The lower dollar has added 0.8 of a percentage point to manufacturing output growth within two years.

Stephen Cauchi   JPMorgan says the plunge in the Australian dollar is supporting economic growth.

Corporate tax inquiry: BHP reveals effective tax rate in Singapore

The world's biggest miner said its third-quarter iron ore production rose 5 per cent on the three months ended December 31.

Heath Aston   BHP Billiton has revealed the true extent of its sweetheart deal with tax authorities in Singapore.

Means-testing the family home could boost pension incomes, study says

"They are not just places to live but untapped assets": Matthew Taylor, Centre for Independent Studies.

Peter Martin   Including the family home in the pension assets test could be a political plus if handled properly, a new report suggests.

Crucial trade pact in 'grabbing distance'

<i>Illustration: Simon Bosch.</i>

Nick O'Malley   An ambition to create the world's biggest trading pact is at a crucial point and the result will have significant impact on Australia.

The negative gearing change that's already happening

Governments on both sides have been happy to let an erosion of negative gearing benefits flow into revenue.

Michael Pascoe   Joe Hockey may rule out changes, but the thin edge of the negative gearing wedge is already in the door.

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How Australia squandered the boom

After 24 years of growth, the question is: Has Australia had it too good for too long?

Michael Heath   Even for a country with a history of commodity booms, this one was gargantuan. Over the decade to 2013, Australia racked up $1.29 trillion in extra exports from the previous 10 years.

RBA's May rate cut under doubt

To cut, or not to cut ... Reserve Bank Governor Glenn Stevens.

Max Mason   A May rate cut looked like a sure thing - until this week. Stronger than expected inflation and a jump in iron ore has pushed some economists to forecast the Reserve Bank of Australia will hold pat for now.