Ford announcement not the Death-Knell for the Local Industry

23 May 2013

While Ford’s decision to cease vehicle production in Australia from October 2016 is undoubtedly a set-back for the Australian automotive industry, leading accounting and advisory firm Grant Thornton argues it should not be seen as ushering in the end of the automotive industry in this country.

Infrastructure spend to keep pace with population growth in major cities

14 May 2013

The announcement that the Government has committed $24 billion to urban road and rail infrastructure spending is welcomed by the real estate and construction industry.

MBS indexation freeze set to transfer costs to patients

14 May 2013

The Government announced that indexation of the Medical Benefits Scheme (MBS) fees, usually applied in November of each year, will not be applied until 1 July 2014.

Not for Profit: Status quo for now, but for how long?

14 May 2013

The Not for Profit (NFP) industry has been on high alert awaiting the outcomes from the Treasury-appointed NFP Tax Concession Working Group. The Government has not used the Budget to announce any related changes.

Federal Budget does little to encourage investment in Australia’s digital economy

14 May 2013

The announcements made by the Government do not support the ICT sector or the investment in ICT that is required to drive Australian productivity and competitiveness, according to leading accounting and advisory firm Grant Thornton Australia.

Budget shuns retail sector

14 May 2013

The disconnect between consumer confidence and the economic fundamentals continues and is unlikely to be improved by the 2013 budget - meaning once again, there is little joy for retailers, according to leading consulting and advisory firm Grant Thornton Australia.

Education funding alone will not improve school performance

14 May 2013

The Government announced it will inject $9.4 billion into our national school system over six years, with annual education spending increase of 4.7 per cent.

Funding costs to rise for overseas investments

14 May 2013

The Government’s announcement that it will stop tax deductions for interest costs on overseas investments further erodes funding options for Australian businesses.

Thin capitalization changes to stifle business investment

14 May 2013

The announcement that the Government will be amending the thin capitalisation rules to reduce the safe harbour rules will not be welcomed by foreign companies.

Fair Work Commission to address bullying complaints

14 May 2013

The Government announced an additional $21.4 million to enable the Fair Work Commission to implement an effective way to resolve bullying at work.