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| Medicare Levy Surcharge: more than the pain the funds had to have? |
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13 May 2008 |
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“If past governments had indexed the threshold to average weekly earnings over the last eleven years the Medicare Levy Surcharge threshold would now be $150,000 for families. This is the exact threshold the Treasurer announced in Tuesday’s budget,” Stuart Rodger, Health Actuary and Partner, Deloitte said. “Middle income families who want to financially rely on the public system are now more free to do so,” Rodger said. However, for singles, the indexed threshold would be $75,000, so the Treasurer’s increase to $100,000 is more than expected Rodger pointed out. “This change in the Medicare Levy Surcharge could be described as more... |
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| Family trust restriction |
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13 May 2008 |
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The Government has changed the definition of ‘family’ in the family trust election rules which will reduce the ability to nominate beneficiaries to a trust according to Deloitte Growth Solutions Tax Partner Spyros Kotsopoulos. “Effective 1 July 2008, the family trust can only distribute to the children and grandchildren of the nominated individual and the children of the individual’s siblings,” said Mr Kotsopoulos. “The limiting of beneficiaries means choosing the nominated individual becomes critical and is likely to cause great distress to families trying to nominate one sibling over another. “Income accumulated in old... |
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| More businesses to benefit from CGT small business rules |
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13 May 2008 |
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The extension of the capital gains tax small business concessions can now be enjoyed by a larger number of small businesses according to Deloitte Growth Solutions partner Spyros Kotsopoulos. “Under current law, taxpayers relying on the $2 million turnover test could not access the small business CGT concessions where the relevant asset was owned by one entity but used by a related entity which carried on business,” said Mr Kotsopoulos. “The Government has extended the concession to small business entities where a taxpayer owns an asset used by a related entity carrying on a business as well as partners owning a CGT asset used in... |
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| Deloitte partner publishes Succession Planning book |
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06 May 2008 |
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6 May 2008 As the majority of baby boomers retire over the next five to ten years, business succession will be vital for the long-term survival of many family-run businesses according to Deloitte partner, Craig Holland in his recently published book titled The Art of Business Succession. According to Mr Holland however, fewer than 30% of family businesses have an achievable succession plan in place creating the potential for many Australian businesses to fail with significant damage to the Australian economy. "A good succession plan will look at a range of issues such as people, and talent, family dynamics,... |
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| Australia dominates hotel occupancy global index |
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06 May 2008 |
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Australia claimed an impressive six places in the top 20 in the 2007 Deloitte Hotel Occupancy Global Ranking Index – more than any other country – with Perth and Brisbane taking first and forth place respectively while Melbourne ranked ninth, Sydney 13th, Adelaide 14th and Cairns 17th. The fifth edition of the Deloitte Global Ranking Index compares the performance of 165 cities outside North America. Information is extracted from Deloitte’s HotelBenchmark Survey database which tracks the performance of over 7800 hotels. The majority of the hotels are classified three star and above. Deloitte’s lead partner of the Real Estate... |
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| Commercial property still strong, says Deloitte |
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06 May 2008 |
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Despite concerns regarding the credit crunch, opportunities in commercial property remains strong, according to professional services firm, Deloitte. The Deloitte 2008 Real Estate Capital Markets Industry Outlook report released today indicates that in these uncertain economic times, commercial property globally has remained strong in terms of performance and stability. Ian Breedon, lead partner of Deloitte’s Real Estate Group in Australia, said commercial property rental fundamentals appear to remain encouraging. “In Australia, there may be opportunities to build across the various classes of... |
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| Automotive service and parts operations 54% more profitable than main business |
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05 May 2008 |
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2 May 2008 Service profits for the world’s largest manufacturers of automotive and commercial vehicles contribute more than 46 percent of total profits according to a Deloitte Global Service and Parts Management Benchmarking study. The Study, |
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| Help for small businesses overburdened by complicated tax law |
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30 April 2008 |
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An alternative taxation regime would tackle the complexity of tax laws and the compliance burden placed on small to medium-sized entities (SMEs), says a report jointly produced by the Institute of Chartered Accountants in Australia (the Institute) and Deloitte.
The report, which includes a submission to the federal government, proposes an entity flow-through (EFT) regime to help SMEs cut the red tape associated with current taxation laws.
The Institute’s Tax Counsel, Ali Noroozi, said that SMEs have for some time identified the complexity of the taxation system and the cost of compliance associated with it as one of... |
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| Ai Group-Deloitte CEO Survey finds skill shortages holding back Australia’s innovation performance |
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24 April 2008 |
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Results from the first Australian Industry Group-Deloitte National CEO survey released today highlight the integral role skills play in lifting innovation and driving business success. The study estimates that as many as a quarter of a million full-time employees are needed to satisfy current skill needs and finds that current skill shortages are severely impeding Australia’s innovation performance. Ai Group Chief Executive, Heather Ridout, said the findings in the Australian Industry Group Deloitte report, Skilling for Innovation, provide important insights into the impact skill shortages are having on business innovation... |
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| IPO performance reflecting current economic uncertainty |
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23 April 2008 |
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Perth – Wednesday 23rd April 2008 - The current low in investor confidence and its reverberations through equity markets had a significant impact on the performances of IPOs coming to market in the March 08 quarter, according to the latest quarterly IPO research by Deloitte Corporate Finance. Whilst the quarter produced 33 IPOs with a combined capital raising of $415 million, only marginally lower than activity in the March 07 quarter (35 IPOs, $421 million in capital raised), only six of the 33 IPOs in the latest quarter traded at or above their issue price near the end of March, and share prices of all IPOs were down by an average of... |
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