Incitec Pivot managing director James Fazzino will lean on the competition watchdog to ensure Dutch energy giant Shell's mammoth $91 billion acquisition of BG Group will not disadvantage energy-intensive manufacturers.
Nothing says more about the shrinking horizons of the Abbott government than the course of the tax reform debate over the past six months. As revealed in Jennifer Hewett's column in The Australian Financial Review yesterday, the Business Council of Australia has pared back its tax reform ambitions to incremental change. Trying to manage bite-sized change is better than having the tax debate alarmingly career off into a raw grab for budget revenue rather than genuine reform that would better reward enterprise and productivity.
Unsafe building materials made cheaply overseas and shipped for use in Australia — despite their failing to comply with standards — are being cited in legal advice as a major risk for builders and homeowners.
Big businesses will be required to pay the top corporate tax rate on every dollar they earn as the Abbott government hands small business a 1.5 per cent tax cut and an accelerated depreciation allowance up to $10,000 in next month’s budget.