Tax changes risk $3b hit to charities
Nineteen religious leaders from Christian, Catholic, Muslim and Hindu organisations have jointly written to Treasurer Jim Chalmers warning that a planned new tax on discretionary trusts could have substantial implications for philanthropic giving. The Fin
Lawyers scramble as court transcripts giant collapses
Administrators for Canadian-owned transcription giant VIQ Australia told court officials on Wednesday that the company would be wound down, affecting 600 staff and the production of daily transcripts in almost 200courtrooms nationwide. The Fin
There will still be tax breaks, says Treasury
The Treasury brains trust behind the government’s controversial tax overhaul says capital gains will still get a tax break compared with wages, even after the elimination of the 50 percent discount. The Fin
Rishworth flags action in FWC’s bitter feud
Minister for Employment and Workplace Relations Amanda Rishworth has refused to rule out standing down Fair Work Commissioner Jennifer Hunt, saying she is taking advice over a bitter feud rocking the industrial relations tribunal. The Aus
Eli Lilly savages PBS over key drug
Eli Lilly, the Indianapolis drugmaker with a $US1 trillion valuation, is locked in a standoff with Australia’s Pharmaceutical Benefits Scheme. The Aus
Calvary has Healthscope in its sights
As the Calvary Health Care and Pacific Equity Partners-led consortium moves deeper into due diligence on Healthscope’s hospital network, the market is increasingly reading the situation as a deal waiting to be signed. The Aus
Extended shopping hours back on political agenda
Basil Zempilas has put extended shopping hours back on the political agenda, promising to do what Roger Cook refuses to do — modernise Perth’s outdated shopping laws if he becomes Premier. The West
Huge blast shakes homes in Perth’s south
Residents across Perth’s south felt the effects of a powerful “explosion” on Sunday morning that rocked windows and homes, with the blast later revealed to be the planned demolition of the last boiler structures at the former Kwinana Power Station, marking another major milestone in the site’s long-running decommissioning. The West
GST share architect warns Albo
One of the most vocal critics in WA’s GST fight who fiercely campaigned for a 75¢ floor, Brendon Grylls, has warned the political cost of any change would be “literally every single seat” in the State, issuing the stern caution amid growing agitation from the Eastern States and a looming review. The West
The Australian Financial Review
Page 21: A $17 billion fall in the value of Northern Star Resources has attracted the attention of activist investor Elliott Investment Management, which is pushing for changes at Australia’s largest gold miner.
Page 23: The chairman of Ainsworth Game Technology and another senior executive have abruptly resigned, a week after the company confirmed the pair received millions of dollars in previously undisclosed bonuses shortly after a major shareholder bought into the business.
Page 25: The property tax changes announced in the federal budget will end Australia’s 30-year housing super cycle and unleash awave of earnings downgrades across the banking sector, according to analysts and Morgan Stanley.
The Australian
Page 14: The $5bn Sims shares have surged since the start of last year almost entirely on the back of Sims Lifecycle Services, the IT asset recovery and resale business sitting inside the broader group and doing $150m of earnings before interest and tax, while accounting for roughly half the company’s earnings.
Page 19: Nine Entertainment is set to pay $600 million or more to extend its English Premier League broadcast deal, in a move that could have major implications for its pursuit of the highly coveted NRL rights.
The West Australian
Page 41: The perennially on-again, off-again Cockatoo Island mine is struggling to keep its head above water and in April its operating company asked the WA Department of Treasury and Finance for an extension to pay a royalty bill.
Page 41: Wet weather and bushfires in WA cut Australia’s quarterly gold production by two tonnes and put a crown on the Kalgoorlie Super Pit.
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