I thought the adults in charge was supposed to give the consumer a bit of pep in their step?
This definitely doesn't bode well for consumption propping up economic growth going forward
View attachment 63320
sample size is 26000.
The government makes a big noise about small business packages increasing business confidence, but it will do no good unless the consumers are willing to open their pockets and start buying, and that doesn't look likely to happen anytime soon.
Hundreds of thousands of building industry contractors who may have dodged their GST or income-tax obligations have been hit with $2.3 billion in tax bills.
But there could be billions more outstanding, as the Australian Taxation Office (ATO) continues data matching information reported to it to identify operators in the cash economy.
A reporting system was introduced in 2012-13 that requires businesses in the building and construction industry to report payments they make to contractors.
The ATO had so far contacted about 250,000 contractors. As a result it has identified income tax and GST liabilities of $2.3 billion for 2012-13.
The governments of several TPP countries are incensed at the U.S. government’s insistence on protecting American drug patents against encroachment by generics. They say the Obama administration is putting the profits of the American pharmaceutical industry ahead of the protection of public health – a claim that’s hard to refute.
Politico reported last week that a leaked copy of the TPP’s intellectual property chapter included a provision restricting foreign governments’ rights to approve generic drugs that copy American brands. According to Politico, the provision would allow American pharmaceutical companies to claim patent infringement at the drop of a hat.
U.S. patent law allows for copies of all manner of patented consumer products – watches, musical instruments, computer software and many others – under certain circumstances, with one exception: prescription drugs. Now, the Obama administration is trying to force that regime on the 11 other TPP countries…
The pharmaceutical industry says rigid enforcement of its patents is necessary to recoup the high cost of developing new drugs and getting them through the government-approval process. But they spend more on 60-second TV commercials and lavishing doctors with money and largesse than on R&D.
The Government is negotiating intellectual property provisions in the TPP within the framework of Australia’s existing laws and policies and does not support any proposals that would require changes to Australia’s current intellectual property arrangements, including our copyright and enforcement regimes…
The Government has stated clearly that it will not accept an outcome in the TPP which adversely affects the Pharmaceutical Benefits Scheme or our health system more generally, or an outcome that increases the price of medicines for Australians.
Little in the way of agricultural access to the USA market. Now it seems the TPP will be blocking further access to generics, making the situation post US FTA even worse as we have the cost of the PBS some $200M a year higher due to increased patent terms.
http://www.forbes.com/sites/johnbrinkley/2015/07/07/tpp-still-has-a-long-way-to-go/
This is what DFAt had to say last month
Does anyone believe that the Govt would walk away from the TPP even though it's not going to benefit farmers and will increase the cost of pharmaceuticals and music / movies / software??
Yes, blow out the trade deficit in the interest of kicking the can a bit further.
Funny how no one mentions the ATO targeting Tony's tradies for roughly $2.3B in tax.
They may find the new holden / ford ute with the full bling bling may have to wait as they pay their fair share of tax.
I wonder if that is a result of the stimulus incentive, where small business could write off a vehicle, up to $50k or something like that ?
When Labor were in office.
It was a bit of a rope the dope carrot.
Not sure what you're talking about.
I do remember Labor had a slightly less generous version of instant tax writeoff to what Hockey has launched
Small businesses with less than $2 million in turnover were able to write off each business asset, including laptops and office furniture, costing under $6500.
That was back in the 2012-13 tax year iirc.
I'd say it's just generally due to the fact the construction industry has been full of tax cheats for a very long time and it's only recently the ATO has started to collect the information required to force those who wont play by the rules to pay the appropriate amount of tax.
It is certainly interesting especially with the amount they are talking about. They must have sprung a lot of tradies.
The incentive vehicle tax write off I think may have been this one.
http://www.aph.gov.au/About_Parliam...ary_Library/pubs/rp/BudgetReview201112/CarTax
A lot of tradies bought the ss utes and 4x4's. I actually thought it was a bit earlier, because the guy over the road jumped in, couldn't wait to show off the new 4x4.
Alarm bell rang in my head when I saw it, one minute he was screaming poor, next minute he is making enough to make it worthwhile to buy a car for a tax write off. Weird
I must admit even the stony faced inquisitor having a go at Billy isn't enough for me to take the commission seriously as anything but yet another an attack on Labor at our expense.
:
Yup, Labor does similar activities. Does that make it right, or does it just show how corrupted our political system is?
lambie ranting, but for once actually makes a bit of sense. What is the point of the nationals being a member og the Govt when they seem to have no voice
[video=youtube_share;xNgLQmuGK-c]http://youtu.be/xNgLQmuGK-c[/video]
Onya Jacquie !
Very clever (surprisingly) and very pertinent.
Lambie is making out that the agriculture land will be forfeited for a coal mine..
The coal mine is in territory not used and cannot be used for agriculture purposes....The mine will only be using 1% of the underground water.......
Where is the conflict?......The farmer is happy as he will receive heaps of dough.
A big beat up by the loonie left and Barnby Joyce and now Tony Windsor wants to get into the act to enhance his bid for reentry into the political scene....Lets not forget Tony Windsor sold his farm to mining interests.
Lambie is making out that the agriculture land will be forfeited for a coal mine..
The coal mine is in territory not used and cannot be used for agriculture purposes....The mine will only be using 1% of the underground water.......
Where is the conflict?......The farmer is happy as he will receive heaps of dough.
A big beat up by the loonie left and Barnby Joyce and now Tony Windsor wants to get into the act to enhance his bid for reentry into the political scene....Lets not forget Tony Windsor sold his farm to mining interests.
I see at least two conflicts:-
1. The rights of property owners to say how their properties are used
I don't know if the property owner has given his consent, but if he hasn't then its his land and if he says NO, then that should be end of story. I would have thought that only Commo's and Fabians would support compulsory seizure of land.
2. Potential contamination of a common asset, ie the groundwater system
This is a serious issue and unless there is some way it CAN'T happen, there is no reason to suppose it won't.
I also believe a strict environmental study has been carried out.
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