Western Australians paid nearly $90 billion more in taxes to the federal government than they received in spending in the four years to June 2016, according to estimates revealed by the Department of Treasury in yesterday’s budget.
The Australian dollar is sharply higher against its US counterpart and well above the 80 US cent mark after European Central Bank commentary failed to announce any tapering of its bond-purchasing program.
Despite a good start to the session, the Australian share market has closed steady as investors worry about the possibility of another North Korean missile test on Saturday, the anniversary of the country's founding.
It was 20 years’ ago this month that Perth’s two largest law firms surprised the business community by merging their operations. Herbert Smith Freehills hosted many of the 50-plus partners who were there at the time to mark the occasion.
Gold miners have warned of devastating consequences from a higher royalty rate, including potential mine closures, while business groups have also taken aim at proposed payroll tax hikes for larger employers, after both were targeted in a $1 billion revenue grab by the state government in today’s budget.
UPDATED: Lisa Scaffidi has stood down from her duties as Perth's lord mayor, pending an appeal against her 18-month disqualification from holding office for repeatedly failing to disclose gifts and travel, but plans to retain the title and her annual allowance.
Poseidon Nickel is in discussions with Empire Resources for the processing of gold ore at its mothballed Black Swan processing facility near Kalgoorlie, while Empire has secured two loan deals to help pay for essential mining costs.
Fogarty Wine Group’s Margaret River Vintners business has expanded its operations, taking on the Evans & Tate brand and assets, the Smithbrook and Pemberton Estate vineyards, and buying the Amadeus vineyard at Wilyabrup