Cashflow

NAB and MLC have come out in support of the Henry Tax Review superannuation reforms taking compulsory superannuation from 9 up to 12 percent from 2012.

The Henry Tax Review, including the Government’s response, has not gained an enthusiastic response from accountants.

Big miners are the losers and small explorers are the winners from the Federal Government’s response to the Henry Taxation Review.

Federal Government changes to superannuation in response to the Henry Review will increase will harm small business says accounting firm BDO and COSBOA.

The Henry Tax Review signals big returns for small businesses, with cuts to company tax and long overdue changes to depreciation write off thresholds.

The Henry Tax Review’s ‘Super Profit Tax’ on mining has put up to $100 billion worth of projects in jeopardy the Queensland Resource Council (QRC) says.

NAB announced this week it had won three prestigious awards in CANSTAR CANNEX’s Innovation Excellence Awards including the ‘Banking Leadership Award’ for delivering the “banking breakthrough of the decade”.

Drive My Car Rentals has launched in Australia giving car owners the option to reduce the costs of their vehicle, offset depreciation or just make some spare cash by renting out their ride when its not being used.

Over 410,000 SMSFs in Australia will be banned from investing in collectibles and ‘personal use’ assets if recommendations from the Cooper Review come into effect.

The average tax deduction claimed by an individual taxpayer is $3,311 according to the latest statistics from the Australian Taxation Office (ATO).

The good news for employers is that three in four employees (77%) could now be influenced to accept a slightly lower salary from their current boss, according to a new salary survey conducted by recruitment firm OfficeTeam, a division of Robert Half International.

The Reserve Bank is likely to increase rates for the sixth time in seven months at its monthly board meeting next Tuesday analysts predict, after inflation data came in higher than expected.

Financial advisers beware; the federal government is about to embark on an overhaul of the financial advice sector, placing a new emphasis on consumer protection.

Expense Reduction Analysts Australia, a leading cost-reduction and procurement consultancy, announced today it expects to save Australian clients more than $3.2 million in 2010.

The Australian Competition and Consumer Commission has reauthorised certain regulations governing the operation of the Australian Paper Clearing System.

Barring a shock collapse in world sharemarkets, superannuation fund members can look forward to a positive return this financial year – the first time since 2006/07.

National Australia Bank (NAB) disagrees with the ACCC decision concerning the proposal to acquire the Australian and New Zealand businesses of AXA Asia Pacific Holdings.

AUSTRAC has signed an agreement with the financial intelligence unit (FIU) of Guatemala to exchange financial information relating to money laundering and terrorism financing.

The ACCC will block the proposed aquisition of AXA Asia Pacific Holdings (AXA) by National Australia Bank Ltd’s (NAB) in favor of a bid by AMP Limited (AMP).

Paycycle has announced their launch into the Australian market, providing businesses with a flexible, easy to use and automated online payroll service.