“With GDP expected to grow at a healthy 3.75% there is an obvious increasing burden of taxation being paid by corporate Australia,” said Mike De Palo, Partner Deloitte Tax Services.

“While corporates may not have a vote in the pending election they will vote on where they commit their capital. The Government should not take the corporate sector for granted.

“With increasing globalisation an internationally competitive corporate tax regime is paramount for attracting...

“We’re ignoring the fact that business wants to be part of the child care solution,” Ms Bolt said.

“The Government has again failed to consider the ways in which business can work in partnership with Government to meet Australia’s child care needs.

“Through an FBT exemption, employers can provide employees with sponsored child care or the opportunity for employees to salary sacrifice...

“Previous changes prevented companies from carrying forward tax losses if they had a majority change of ownership, and had a turnover in excess of $100 million, Mr Ward said.

“The change means companies who have been prevented from using their tax losses in earlier years will be able to seek amendments to their tax returns, retrospective back to 1 July 2005.

It will particularly benefit companies, with high start-up losses, such as...

“The concern of business was that the tax treatment of finance leases would have become embroiled in the current reforms of the taxation of financial arrangements. This would have added significantly to the complexity of the changes in this area and delayed it,’ he said.”

“It is also pleasing that the Government has also announced that the long awaited review of the taxation of finance leases will not proceed.”

NB:...

“The current shortages of professional, skilled as well as unskilled and ancillary services labour across the resources sector nationally have not been comprehensively dealt with by the measures announced in the Budget. Nor have the soft or hard infrastructure issues impacting productive capacity been addressed in any significant way.

“The $1000 incentive for first and second year...

“Deloitte Forensic practice is the largest in terms of full-time staff and the only fully integrated and full service forensic practice in Australia,” Tim said.

“Our practice has grown substantially by 60% per annum over the last three years - 146% growth in...

Serg Duchini, Deloitte partner and national R&D leader, said the proposal to eliminate the beneficial ownership test from the application of the 175 per cent incremental tax concession brings Australian policy closer in line with other countries.

“Competition globally for R&D investment has recently seen a number of countries significantly enhance policies that support and encourage R&D,” Mr Duchini said.

“The removal of the requirement to own the intellectual property (IP)...

James Hickey, Trowbridge Deloitte partner who led the study said, “The market has more than doubled in the past 12 months with the sector’s outstanding loan book of $227 million at 31 December 2006 increasing from $89 million at the end of 2005.”

Mr Hickey also said that “settlements of new reverse...

The SEQUAL/Trowbridge Deloitte Reverse Mortgage Study found that the reverse mortgage market at 31 December 2006 consisted of more than 27,500 loans with a total book size of just over $1.5 billion. 

Kieren Dell, Executive Director of SEQUAL, a not-for-profit member organisation governing lenders of reverse mortgages to seniors and providing consumer safeguards, said “Reverse mortgages are continuing to...