Calls for corporate tax reform in Australia goes unheeded

Friday, May 12, 2006

Peter Costello’s budget announcement has led to rejoicing for small businesses, but the lack of joy for those pushing for radical corporate taxation reform has led to many businesses asking “what about us?”

Personal taxation and small business have been the big winners after this year’s federal budget. Although dampened by the twin economic threats of rising interest rates and petrol prices, there should be a reasonable amount of real income savings for both low and high income earners, with those receiving Medicare, or a superannuation benefit, privy to an even lower level of taxation (0% for those on super benefits).

Small business also has benefited from the Howard government’s 11th annual budget, with them receiving a higher level of reducing depreciation, leading to a higher level of deductions in the years following the uptake of new technology or other capital. They are also privy to a AU$435 million dollar tax cut to compensate for their changing accounting requirements under the government’s new AIFRS reporting standards, as well as increasing the uptake of both the small business tax relief scheme and CGT (Capital Gains tax) Concessions.

The budget was not a complete loss for big business however, as superannuation laws have been tweaked to streamline contribution and payment rules previously impeding those with multitudes of staff.

But this is not enough, says Big 4 accounting firm Ernst & Young. In their newly published paper “Taxation of Investment in Australia: the need for ongoing reform”. In it they lead the charge for a greater streamlining and organization of the corporate tax system in Australia, submitting that it will lead to reductions in “disincentives to work save and invest in Australia [as well as improving] the international competitiveness of Australian businesses.” This follows from a recent report brought out by Mr. Costello himself about the need for tax reform in Australia.

A budget night Mr. Costello was notably coy about any future reform of corporate tax in Australia. He alluded to the report by his ministers but kept from outlining the government’s plan precisely.

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Exterior Vinyl Shutters Offer A Stylish, Low Budget Window Treatment Solution

By Rika Susan

Exterior vinyl shutters are durable kerb-appeal enhancers with a fast-paced installation process. This is one of the easiest and most affordable face-lift projects for a family home, and a sensible way to spend the funds generated by a home improvement loan. If you want to add color and class to your home, innovative engineering has transformed exterior vinyl shutters into a durable design option with a range of benefits.

These budget-beating exterior vinyl shutter ranges complement virtually any architectural style. The diversity of design makes it easy to find your home’s perfect match. Tempting arrays of color can be used to bring out the best in your home. The decorative fastening systems are color coordinated. These shutters can be non-functional, meaning they remain open and are permanently affixed to the walls of the property, or you can opt for a functional, usable range.

1. Superb Color Retention

One of the main benefits of an exterior vinyl shutter is that the copolymer or urethane construction is treated with a molded through color that is UV resistant. This means your shutters will retain their bright, colorful appeal for years to come. In fact, some manufacturers include a warranty of up to 40 years!

2. Low-Maintenance Durability

[youtube]http://www.youtube.com/watch?v=36UFrK7KZx4[/youtube]

Molded exterior vinyl shutters are a maintenance-free product in many respects. A quick rinse-down is all you will need to do, in contrast to the time-consuming effort of having to paint wood shutters once a year. Due to the molded through color, you won’t battle with paint chips, flaking or fading – the usual bane of wood exterior shutter products. You even get a wood grain texture without any of the warping woes that usually accompany real wood shutters.

3. Warp-Free Wear

Apart from the color-retaining characteristic, the benefits of this window treatment include remaining free of cracks and resisting rot due to water. Many of the exterior vinyl shutter ranges, also known as polylite shutters or composite shutters, are custom made to the measurements of the client’s home.

4. Design Diversity

Board and batten shutters are a popular exterior vinyl shutter design choice. Adding a rustic look to the property, board and batten shutters can be solid, or feature spaces between the vertical boards that will allow sun and air through. Two to five vertical boards are used, with a horizontal board at the top and the bottom of the shutter. Many shutter manufacturers also supply curved ranges for arched windows.

If you prefer a different look, opt for the classic fixed louver styles, or a raised panel design. With some manufacturers you have the option of paintable shutters.

5. Do It Yourself Installation

The installation process is a fairly simple do it yourself home improvement project. It is vital that you don’t skimp on the shutter fasteners and accessories. Using a quality finish will add to the durability of your home remodeling efforts. A variety of decorative hinges are available, adding a touch of tradition and authenticity.

If you take the reasonable price, low maintenance, durability, warranty and ease of installation into account, it is clear that exterior vinyl shutters are window treatments that trump real wood shutters time after time.

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Donald Trump plans £300m “golfing paradise” for rural Scotland

Saturday, April 1, 2006

American multi-billionaire Donald Trump has announced plans to build a massive golf complex on an 800-acre site just north of Aberdeen, Scotland.

Speaking last night from the Trump Tower in New York, Trump said that the development will be akin to a “homecoming” for him. The ginger-haired property tycoon’s mother is from the Western Isles of Scotland.

The £300m project at Menie in Aberdeenshire will include both a links course and an inland course, and a 400-bedroom hotel as well as a golfing academy and holiday homes. The facilities are being built with the intention of attracting the Open Championship to the site, officially dubbed Trump International Golf Links, Scotland.

Fields and sand-dunes make up the landscape of the coastal site. Trump said of the location, “As soon as I saw it there was no question about it. I looked at 211 fantastic sites all over Europe, but here it is – the dune size and the ocean front. There is no piece of land that I have ever seen that is comparable to this.” The billionaire claims that the complex, set to be his only development outside the United States, will be the “best course in the world.”

Local and national political figures, including Scottish First Minister Jack McConnell, have welcomed the announcement with open arms, as the project is expected to bring in an additional £157m to the region’s economy within the first ten years. Scottish tourism company VisitScotland is also optimistic, expecting an influx of international visitors to play on (or simply visit) the site. Plans to expand the A90 road running past the site in the near future will enable more road traffic to and around the area. An £60m expansion of Aberdeen Airport will also allow for vastly increased international air links, akin to those operated using Boeing 767 aircraft.

Work on the golf complex itself is set to begin in September this year, with the Trump Organisation hopeful for a Spring 2008 opening date.

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Big shoes to fill at eBay

Saturday, June 4, 2005

There are often odd, unusual and controversial items up for sale on eBay – multi-million euro planes, the Pope’s old car and a young woman’s virginity, to name just a few. But how about the Prime Minister’s shoes?

Shoes custom designed for former British Prime Minister Margaret Thatcher have been put up for sale on eBay. The shoes, which have a reserve price of £2,930 (US $3,580), are currently owned by 65 year old Eleanor Graham. Ms. Graham bought them in a Sue Ryder charity shop after seeing a member of Thatcher’s staff drop them in the shop. She guessed that they would increase in value over the years, so Ms. Graham purchased them.

The Rayne shoes – which come in gold, silver and black suede – are size five and come with a letter received in 2001 from Ms Thatchers office confirming that she did wear Rayne shoes.

You can see the shoes at eBay by clicking here.

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Hepatitis scare at New Zealand McDonald’s restaurant

Saturday, December 30, 2006

McDonald’s is asking everyone who ate at a McDonald’s restaurant located in Greenlane, Auckland, New Zealand, in December 15, 2006, to go to their doctor after a worker tested positive for Hepatitis A.

Doctor Greg Simmons, medical officer of health in Auckland, said that it is possible for the food handler worker to have passed on the disease during 7:00 p.m. (NZDT) and 2:00 a.m. as he would have been in the most infectious stage of Hepatitis A and was not wearing gloves. According to a spokeswoman from McDonald’s, Joanna Redfern-Hardisty, food handlers are not required to wear gloves but are required to have thoroughly washed their hands with antimicrobial soap. However Dr Simmons says that the infected worker usually wore gloves.

The shift the worker worked was the only one the worker handled food when he was infectious with Hepatitis A.

It is unknown how many people could have come into contact with food that the infected worker had prepared as Friday night is usually a busy night, according to Ms Redfern-Hardisty.

Dr Simmons says that if someone has been infected with Hepatitis A then they will currently be showing early symptoms. Those symptoms include being tired, no appetite, nausea and skin and eyes will show a yellowish colour.

Ms Redfern-Hardisty, spokeswoman for McDonald’s, confirmed that no more risk is being posed to customers. She said that it is currently unknown where the worker caught Hepatitis A but has stated that it was from an external source.

The worker has been suspended from work.

If you ate at the McDonalds located in Greenlane, Auckland, on late December 15, early December 16, then please either visit your doctor or ring the Auckland Regional Public Health Service on 096234600.

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Hungary Debt Situation Deterioration

By Himfr Paul

Europe has become an international credit rating agencies take turns “against” the object.

Fitch Ratings on December 23 announced that due to Portugal and Hungary’s financial situation and economic outlook pessimistic, down two sovereign credit ratings. ECB Executive Board member Stark 24, said Fitch’s approach is worrying, for the end of the debt crisis in Europe did not help, but make the situation worse.

Core EU member states, although France’s sovereign credit has been “warning”, but its S & P sent in before Christmas Eve, “peace symbol”, confirmed the country’s “AAA” rating.

Fear of the Portuguese economy will decline

Portugal deficit reduction because the slower pace of work, and the Government and the Bank’s financing environment has become “more difficult”, the national long-term foreign and local currency rating from “AA-” down a file to “A +”.

Fitch has also against Portugal, “the short-term economic outlook deteriorating,” expressed concern. Fitch believes that the Portuguese economy will face “extreme challenges”, 2011, the country’s economy will enter recession.

[youtube]http://www.youtube.com/watch?v=Bon1x-3g4C8[/youtube]

Portuguese government plans, the budget deficit in 2012, the ratio of GDP to 3% by 2013 and further to 2%, and in 2012 the ratio of public debt to GPD peaked at 86%. However, Fitch believes that to achieve these objectives, the Portuguese government needs to take additional measures. Portuguese Government data released in December, three-quarter GDP growth of only 0.3% qoq, due to sluggish domestic demand, growth prospects.

Prior to that, the other two rating agencies Standard & Poor’s Ratings Services and Moody’s Investors Service are in the month of Portugal’s sovereign credit rating issued a warning.

Deterioration of the Hungarian debt

Fitch, 23, also announced that, due to the Hungarian budget situation deteriorated, and foreign currency debt high, the country long-term foreign currency issuer default rating from “BBB” down to “BBB-“, the long-term local currency issuer default rating from “BBB +” down to “BBB”, the two rating outlook is “negative”; Fitch while Hungary’s “A” Class ceilings lowered to “A-“, and confirm the short-term foreign currency issuer default rating to “F3”.

Fitch’s Emerging Europe sovereign ratings, said Parker, head of the Hungarian medium-term base budget situation has deteriorated significantly, and the higher the government and the banking sector foreign currency debt, making it difficult to resist the negative impact of the country.

Hungarian Ministry of Economic Affairs said later, the rating was not reduced accidents, the ministry said Fitch never released the expected improvement in the financial situation in Hungary, “rating downgrades in the short term financing capacity of the Hungarian cause harm.” But the ministry said, “Fitch does not fully consider the economic development situation in Europe in 2011 Hungary is in addition to Sweden, the only way to reduce the deficit of the EU member states.”

The date of the Hungarian Parliament adopted the government budget for fiscal 2011, plans to GDP, the ratio of budget deficit from 3.8% in 2010 fell to 2.94%, 3% in line with EU requirements. Hungarian government said the country will be able to cut the budget deficit stability, while restoring economic growth.

Maintain the AAA rating in France

International rating agency Standard Poor’s Ratings Services, 23 confirmed that the French long-term and short-term sovereign credit ratings are “AAA” and “A-1 +”; rating outlook are stable.

S & P credit analyst Mark Moss Nick said Standard & Poor’s believes that the French government will continue implementing fiscal consolidation measures, the country in 2013 to a deficit-GDP ratio fell to around 3%, the agency approved the current GDP of France growth and domestic consumption trends, in favor of its stable political environment and prudent economic policy direction.

Currently, the French economy only moderate growth and high unemployment are the major challenges it faces. French National Employment Office and the Bureau of Labor Statistics 24, announced in November the number of unemployed increased to 269.81 million 2.13 million, the unemployment rate rose by 0.8% qoq, creating the largest monthly increase in six months; rose 2% year on year, higher than October an increase of 1.8%. French government expects GDP growth in 2010 will be 1.6% of GDP in 2011 is expected to grow 2.0%, but still insufficient to support the job market quickly rebound.

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Spanish town council electee proposes nudist pool, marijuana field in park

Friday, June 1, 2007

A former mailman who proposed to paint the town hall pink, turn the local town square into a nudist pool, and to plant a marijuana field in the local park has been elected to the Reus, Spain town council.

Ariel Santamaria promised to show up to the town’s council meetings dressed up as Elvis Presley if he was elected and kept his word at the town’s first meeting on Thursday.

Before being elected, Santamaria who is a member of the Reus Independent Coordination, had also promised the town’s 100,000 residents that he would install a GPS system at the police department that would allow officers to track people who are smoking marijuana and provide them with a light if they need one.

An unnamed media consultant who works for Santamaria set up a website for his campaign and followed Santamaria wherever he went, dressed as a pirate.

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Maryland Judge throws out law banning gay marriages

Saturday, January 21, 2006

Maryland state flag.
The Gay Pride flag.

Judge M. Brooke Murdock of the Baltimore Circuit Court in Maryland struck down a 1973 law banning same-sex marriage yesterday, ruling the measure violated a state constitutional amendment prohibiting sex discrimination.

The decision will not allow gay couples to be immediately eligible for marriage licenses because Murdock stayed the order pending an appeal. The state’s attorney general’s office filed the appeal right after the ruling was made.

“Although tradition and societal values are important, they cannot be given so much weight that they alone will justify a discriminatory statutory classification,” the judge stated in the ruling. “When tradition is the guise under which prejudice or animosity hides, it is not a legitimate state interest.”

In making the decision, Judge Murdock wrote, “the court is not unaware of the dramatic impact of its ruling.”

Ken Choe, a lawyer with the American Civil Liberties Union’s (ACLU) Lesbian and Gay Rights Project, said “men and women were indeed treated differently under the law Judge Murdock struck down. A man can marry a woman, but a woman can’t marry a woman. Same-sex couples need the same protections for their families that opposite-sex couples do.”

The ACLU hailed the ruling, calling it “a historical step toward allowing same-sex couples to legally marry in Maryland.” She considered but dismissed all the state’s arguments for the restriction, noting “Prevention of same-sex marriage is not rationally related to the state’s interests in promoting stable families and protecting the best interests of children. … These arguments are illogical and inaccurate.”

Governor Robert L. Ehrlich Jr. released a statement saying that that the state will “begin a vigorous appeals process. I firmly believe the institution of marriage is for one man and one woman only.”

Governor Ehrlich had sent to Attorney General J. Joseph Curran Jr. (D), a letter in response to the ruling advising him to appeal the decision and offered additional resources to support the appeal.

“We have noted an appeal and think it appropriate that the court stayed the operation of its order,” said Kevin J. Enright, a spokesman for Curran, in a statement. “We await having the decision of Maryland’s appellate courts.”

The Maryland House of Delegates scheduled hearings for January 31, 2006 on proposals dealing with same-sex marriages, including a proposed constitutional amendment.

John Lestitian, a plaintiff in the case, said Murdock’s decision was “a step in a very long process. As a 40-year-old man, I should be able to decide who my family is.”

“This is such an exciting moment,” said Lisa Polyak. Her partner of 24 years, Gita Deane, was a plaintiff in the case. “Our participation in this lawsuit has always been about family protections for our children. Tonight, we will rest a little easier knowing that those protections are within reach.”

The equal rights amendment in Maryland’s State Constitution was ratified by voters in 1972. The marriage law which defined marriage as only between one man and one woman was approved the following year.

The lawsuit leading to the decision started when nine gay and/or lesbian couples and one individual sued court clerks in five Maryland counties for denying marriage licenses to them, citing legal, financial, and emotional harm. In July of 2004, the ACLU filed the suit challenging the state ban on same-sex marriage.

Same-sex marriages are only legal in the state of Massachusetts in the United States, with the states of Vermont and Connecticut recognizing other civil unions. Hawaii and New Jersey offer some legal protections to same-sex couples, while 13 states have appoved constitutional amendments rejecting recognition of same-sex marriage. Courts in California, New Jersey, New York and Washington State are facing cases on the issue.

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Unprecedented review to be held on Qantas after third emergency in two weeks

Monday, August 4, 2008

The Australian Civil Aviation Safety Authority (CASA) has announced it will take the unprecedented step of conducting a special review of flag carrier Qantas after three separate emergencies in two weeks.

In the latest incident, a Boeing 767 headed from Sydney to Manila was forced to turn back yesterday after ground staff at the airport noticed what they believed to be smoke emanating from the jet’s wing as it departed. It turned out to be fine spray from a hydraulic fluid leak, and the aircraft brought its 200 passengers back down safely at around 3:00 p.m., with ARFF trucks on standby.

Despite the aircraft being forced to turn around, the pilot did not request a priority landing and so Qantas refused to describe the event as an emergency landing.

Qantas has a largely good safety record, having never lost a jet aircraft or had a fatality on board one. Their last fatal accident was in 1951. However, recently two other events have led to some questioning of Qantas from within the aviation industry.

Last Monday, a Qantas Boeing 737-800 returned to Adelaide after experiencing pressurization problems caused by the failure of an undercarriage door to retract properly. This followed the July 25 accident on board Flight 30, a Boeing 747 headed from London to Melbourne that had just made a stopover in Hong Kong, in which an exploding oxygen cylinder caused an explosive decompression. An emergency landing was performed in Manila, with a hole blown in the aircraft’s side.

According to Qantas staff, the problems are not a new thing. Qantas flight attendants have asked senior management for an emergency meeting over these latest events. The Flight Attendants’ Association of Australia’s president Steven Reed said “We want some assurances from the company that these are isolated incidents. Or are they something we should be concerned about? We need to meet with the company at a senior level to have these assurances.” Such a meeting is said to be likely within a week.

Qantas engineers have been complaining for some time about maintenance issues, saying that cost-cutting and outsourcing are compromising the quality of maintenance. Much work is now being done in countries such as Hong Kong, Malaysia and the Philippines. According to one engineering union official, recent incidents linked to outsourced maintenance include a failure of emergency lighting and flight attendants in the galley being electrocuted by faulty wiring.

According to the Australian Licensed Aircraft Engineers’ Association’s assistant federal secretary, Wayne Vasta, there has been a recent “change in culture” at Qantas, although he did say it would be inappropriate to blame only outsourcing. He said that while previously Qantas engineers had simply attempted to do the best they could, “Now it appears we have got to do the best job we can possibly do, within a budget.” He also expressed a welcoming of the CASA probe.

Qantas’ engineers are currently lobbying for a pay rise, and say the airline is risking safety with cost cuts.

Peter Gibson, spokesperson for CASA, said no trouble had been spotted in recent safety audits of Qantas, but they felt it ‘prudent’ to investigate given the recent string of incidents. He acknowledged that the review is unprecedented in CASA’s history, and announced the probe would be headed by senior official Mick Quinn.

“We want to look at their safety systems to make sure that the systems are operating the way they should. All these things are stated in manuals. We want to make sure that what is in the manuals is being done,” Gibson told reporters. He said the investigation should take around two weeks.

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Knowing The Secrets Of Forex Trading Can Yield Lots Of Money

Knowing The Secrets Of Forex Trading Can Yield Lots Of Money

by

Ross Warn1

Forex trading is a short form for foreign exchange trading. As the name suggests, it concerns itself with trading over currencies of different currencies. In other words, it simply refers to currency trading. However, it is easier said than done. It is a highly complex process, given the constant variations and fluctuations in the world market, be it the stock market, the commodity market or the currency market. So to be able to trade in currency, one has to have a strong understanding about all the market systems and the different kinds of financial instruments like bonds, derivatives etc. and how the different companies in the different sectors are doing. Not only that, because it involves trading over currencies, it demands an in-depth knowledge of the entire economy of the at least the two countries on whose currencies the trading is being done. There are several kinds of

forex trading systems

and one must sift through as many of them as possible before committing on a particular one.

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As they say, it is much better to have a preventive measure than have a cure. So instead of waiting for something wrong to happen, you should be equipped with the necessary knowledge from beforehand so that you do not have to face any contingencies while trading on the forex. One of the first things you should know about forex trading is that it is entirely done over the Internet. So you must be reasonably proficient with computers and working over the Internet. You must realize that the foreign exchange market is really very volatile, hence you must have the forex trading systems

in complete grasp.

In the earlier Bretton Woods system, the price of currencies relative to a particular currency used to be fixed. However, liberalization in terms of the foreign currency market has meant that the relative prices of currencies with respect to one another are now decided by the forex market. As has been stated earlier, it is better to have thorough knowledge of the matter before indulging in the complex trading. For this, it is better to enroll yourself in a forex trading course. Even though there can be interventions by central banks, this market is often referred to as one having the highest possible level of competition, which is arguably the best thing that can happen to any market, as that leaves the fixing of the prices of the traded item (in this case, currency) entirely on the market forces. Many private firms are engaged in the forex trading business, and the average daily turnover is reportedly said to be in the tune of about US $4 trillion! This mammoth transaction amount can be broken up into outright forwards, forex swaps, options, spot transactions, options etc. Of these, spot transactions and currency swaps alone account for over US $3 trillion! As expected, the forex trading market has the highest level of liquidity among all market systems. The top ten traders in currency include Deutsche Bank, Morgan Stanley, JP Morgan, Citi, Goldman Sachs, HSBC etc. Having a forex trading guide is highly recommended.

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