南京夜网,南京夜生活网,南京桑拿论坛

Powered by Shoes28!

Archive for December, 2018

29 December
Comments Off on Jobless can earn $19 more a week

Jobless can earn $19 more a week

Unemployed people will be able to earn an extra $19 a week before their welfare payments are reduced, as part of the government’s attempt to appease those calling for an overhaul of the welfare system.
Nanjing Night Net

As had been hinted in the lead-up to the budget, the government chose to increase the amount of money people on some welfare payments can earn – from $62 a fortnight to $100 a fortnight – instead of increasing the base rate of payments.

Workplace Relations Minister Bill Shorten said it was a “practical investment to give Australians on income support more incentive to stay in or re-enter the workforce”.

The government estimates about 150,000 people on welfare payments will be able to earn up to $494 a year more under the change.

However, the decision will not please either business or welfare groups, which have been calling for a rise in the unemployment payment, Newstart, to help keep people out of poverty.

“We welcome the news that the income-free area will be increased to allow people on the $35-a-day payment to keep more of the money that they earn,” the chief executive of the Australian Council of Social Service, Cassandra Goldie, said.

“However, this will do nothing for the four out of five people on Newstart who cannot get into paid work and have no other earnings,” she said.

The decision to increase what is known as the income-free threshold is in part a response to the backlash the government has weathered since its decision in last year’s budget to move people receiving the sole-parenting payment onto the lower-paying unemployment payment once their youngest child turns eight.

This story Administrator ready to work first appeared on Nanjing Night Net.

29 December
Comments Off on Mining tax revenue slumps to $200 million

Mining tax revenue slumps to $200 million

Revenue targets for the Gillard government’s mining tax have been downgraded yet again, with Treasury now expecting just over $200 million from the controversial measure this financial year.
Nanjing Night Net

The new downgrade means net receipts from the tax will be just 10 per cent of the $2 billion that was forecast in October, a figure that was itself a downgrade from the $3 billion predicted at the May 2012 budget.

The trend will spread through the forward estimates, and the tax will now be in its fourth year before that $2 billion figure is passed.

The government has shaved $1.7 billion of its expectations for the 2014 financial year to just $700 million, with a further $1 billion in revenue tipped for 2015.

Instead of raising $13.4 billion over its first four years, as predicted in last year’s budget, the tax will raise just $3.3 billion.

The mining tax has been hampered by the recent cooling of commodity prices and mining companies’ use of massive tax deductions.

The latter issue has caught Treasury by surprise, with the Australian Tax Office launching an investigation into how companies like BHP Billiton and Rio Tinto are calculating those deductions.

But the government remained optimistic that the tax would work in the long run, given that capital spending by miners was easing and exports were poised to grow significantly.

The budget papers predicted iron ore exports would rise by about 40 per cent over the next four years.

As expected the budget contained measures to tighten the rules on exploration deductions for miners, in a move that is likely to prompt anger within the industry.

The changes are worth $1.1 billion to the government over four years, and are designed to avoid penalising junior miners conducting greenfields exploration.

The changes will have the most impact on companies that purchase a tenement that has previously been explored, by excluding the purchase price of the mining right and certain intangible elements like knowledge from being claimed.

The government appears to be well aware that the change could spark another stoush with the resources industry, and stressed in the budget papers that the government would “consult closely with industry on the design and implementation of the measure”.

“This measure will improve the sustainability of this important concession, which recognises that resources exploration is a vital and economically risky activity that has spillover benefits to the economy,” the budget papers said.

Fears the diesel fuel rebates could be targeted again proved unfounded, with no direct changes to the 32 cent rebate.

But changes to the carbon price could see some slight, indirect, fluctuations in the diesel fuel rebate.

The clean coal sector was one of the clear losers out of the budget, with four separate programs suffering cuts.

Carbon capture and storage programs suffered $500 million worth of cuts over three years, the low emissions coal initiative was cut by $88.2 million over two years and the coal sector jobs package lost $274 million over two years, while a $29 million cut was delivered to coal mining abatement technology spending over two years.

The government will also introduce cash bidding for offshore oil and gas permits in areas with a developed oil and gas industry.

The new system is expected to raise $160 million for the government between 2015 and 2017.

The resources and energy industry will get a new “councillor” based in Beijing to help foster relations between the sector and Chinese authorities.

This story Administrator ready to work first appeared on Nanjing Night Net.

29 December
Comments Off on Challenge to road link with $3b for Metro rail

Challenge to road link with $3b for Metro rail

$3 billion has been allocated for a Melbourne rail tunnel. Photo: Craig AbrahamSwan puts surplus on holdWinners and losersFederal budget at a glanceTreasurer Wayne Swan’s budget speech
Nanjing Night Net

The Gillard government has pledged $3 billion for the Melbourne Metro rail tunnel, pitting it against the federal opposition, which has promised to spend half as much on the east-west road link.

This comes on a day when The Age revealed that the planned east-west link would have to be three times the current cost of an average trip on CityLink for the project’s investors to make a profit.

Ensuring road versus public transport funding will be a key focal point for Victorian voters at the September 14 federal election, the budget has revealed the $9 billion project – involving a nine-kilometre rail tunnel from South Kensington to South Yarra with five new stations – will be one-third funded by the Commonwealth if Labor wins.

But that contribution, which will stretch over about a decade, is contingent on the Napthine government also chipping in $3 billion. The remaining $3 billion would be raised through a public-private partnership secretly sketched out by federal Infrastructure Minister Anthony Albanese and state Transport Minister Terry Mulder.

Under the plan, both governments would make “availability payments” to a private sector provider to build and possibly run the new line, which is expected to provide capacity for an extra 20,000 passengers per hour.

This would ensure a guaranteed rate of return, making it attractive to superannuation funds and other investors.

The ongoing payments, which do not appear to have been included in the budget, would be split equally between the Commonwealth and the state government.

The funding promise, revealed by Fairfax Media last month, stands in contrast to Mr Abbott’s pledge to spend $1.5 billion on the east-west road link connecting the Eastern and Tullamarine freeways. The state government also announced funding of $300 million for that project in last week’s state budget, with just $10 million for the rail tunnel.

Mr Abbott last month said there would be no Commonwealth money for commuter rail projects if he was elected prime minister. State Treasurer Michael O’Brien warned that the federal election would be a referendum on the east-west road link. Mr O’Brien said voters in marginal federal Labor seats east of the city – including Deakin, La Trobe and Chisholm – would punish Labor for not funding the road.

But the Commonwealth funding arrangements for the rail tunnel remain opaque. The budget papers only reveal the money will be taken from its Nation Building Program, which is funding 36 other projects across the nation.

It is understood the Napthine government does not want to begin building the rail tunnel until 2015-16 – after the state election.

Mr Abbott and the state government are backing the road project over the rail project despite the lack of a business case, including traffic projections and a detailed analysis of benefits and costs. The Metro rail project, which is seen as necessary before other key public transport projects can begin, has been assessed by Infrastructure Australia as “ready to proceed”.

The budget papers also include $525 million to complete 38 kilometres of improvements on the M80 Ring Road, $69 million to improve traffic management on the Monash Freeway and a previously announced $258 million contribution to continue duplicating the Princes Highway between Winchelsea and Colac.

Mr Albanese said Mr Abbott had failed to understand that the Commonwealth should invest in road and rail. “His opposition to any rail funding would ensure traffic gridlock in our cities, making them less liveable and sustainable,” he said.

This story Administrator ready to work first appeared on Nanjing Night Net.

29 December
Comments Off on Cornered Labor chooses brave way out

Cornered Labor chooses brave way out

Swan Treasurer Wayne Swan: “Strange budget.” Photo: Andrew Meares
Nanjing Night Net

Join Ross Gittins for a live Q&A at 12pm todayMichael Gordon: Hedging wedgingAdele Ferguson: Politics not economicsMalcolm Maiden: Price cycle taking Swan for a ridePeter Hartcher: Labor to leave with some dignity

This is the weirdest budget you or I are ever likely to see. That doesn’t make it bad – just very strange.

With just four months until the election, it’s the most unlikely pre-election budget you could imagine, with loads of nasties and next to no sweeteners. It is  more like a post-election budget, particularly the kind you get after a change of government.

But its strangeness doesn’t end there. The Parliament has so few weeks left to sit, it is likely most of its controversial measures won’t become law before the election (with the increase in the Medicare levy the main exception).

That makes it less a budget than an election policy speech. Only if Julia Gillard is re-elected can we be sure the budget measures will become a reality.

And since the chances of Labor’s re-election seem low, this is more Tony Abbott’s budget than Gillard’s. It will be he who decides which measures survive and which don’t; whether Labor’s last budget becomes anything more than its final, impotent gesture.

Do you think Gillard doesn’t know that? This is the budget of a government that knows it’s a dead duck.

Usually when governments know they are going to lose, they  go for broke, offering electoral bribes they know they will never have to find a way to pay for, aiming to minimise their loss of seats.

Not this time. This budget is more likely to cost Labor votes than win it any.

No, the purpose of this budget is not vote-buying – it is reputation-rescuing, a last-ditch attempt to influence what history will say about the Rudd-Gillard government  as an economic manager.

History will be impressed by this budget – and a lot more forgiving of Labor’s shortcomings than voters are likely to be on September 14.

At this time in 2010, Wayne Swan seized on a Treasury projection three years into the future and boasted about his feat of returning the budget to surplus in 2012-13.

In the following election campaign, Gillard foolishly turned that long-range projection into a solemn promise.

This time last year, Swan boasted of budgeting for four surpluses in a row, as though they were in the bag. His surplus of $1.5 billion for the financial year just ending is now expected to be a deficit of $19.4 billion (but even that isn’t yet certain). This year his boast of being able to get the budget back to a surplus of $6.6 billion in 2016-17 (again on the basis of Treasury’s long-range projections) will draw understandable cynicism.

But just as Swan and Gillard should have more sense than  to attach much weight to economists’ forecasts, so should the rest of us. Treasury’s crystal ball will be no more reliable after a change of government. Less initial naivety on the part of the media and the public would reduce ultimate cynicism.

The strength of this budget – should it come to pass –  is that Swan has found sufficient saving measures (90 per cent of them tax increases) to cover the cost of the painfully slow phase-in of the disability insurance scheme, the Gonski school funding reforms and other new spending measures.

He has  found other savings to make a start on reducing the budget’s significant ”structural” deficit – the product of excessive generosity by successive governments – and eventually getting the budget back to surplus, but without endangering the economy’s tricky transition from mining-driven to consumer and business investment-driven growth over the coming year.

These additional, structural deficit reductions build from nothing in the coming financial year to $6billion in the following year and $12billion in each of the next two years. Being saving measures, these figures are less dependent on predictions about the state of the economy and so are easier to believe.

By my rough figuring, they will eventually reduce the structural deficit – that is, claw back unfunded handouts – by about 60 per cent.

It has to be said, however, that few of the nasties in the budget  will cause  voters to lose much sleep. They are aimed mainly at the well-off and foreign multinationals.

Even so, for a government that’s been far too timid in tackling unjustified spending programs and tax breaks, this budget is surprisingly brave.

And if, by being the one to propose last night’s unpopular measures, Gillard makes it easier for Abbott toagree to them now or to introduce them after the election, Labor willdeserve respect for initiating such a heavily disguised form of bipartisanship.

For what it’s worth, this is a good budget. But that is the trouble: under these strange circumstances, it ain’t worth a lot.

This story Administrator ready to work first appeared on Nanjing Night Net.

29 December
Comments Off on Budget 2013: winners and losers

Budget 2013: winners and losers

WINNERS
Nanjing Night Net

1. Infrastructure: $24 billion over five years to upgrade and expand urban public transport infrastructure in Sydney, Brisbane, Melbourne and Adelaide.

2. Schools/education: $9.8 billion over six years for a new needs-based funding model for schools that increases Commonwealth funding for schools to $104.3 billion from 2014 to 2019.

3. Higher education: $97 million to increase the number of Commonwealth-supported university places and an additional $186 million for research infrastructure.

4. Disability: $14.3 billion in new investment for DisabilityCare Australia, a national disability insurance scheme that will be paid for with an increase in the Medicare levy.

5. Seniors: $127 million for older Australians, including $112.4 million to support those downsizing their homes, $9.9 million to extend broadband support and $4.6 million for a new ageing policy institute.

6. Health: $226 million to fight cancer, including $55.7 million for breast cancer screening, $18.5 million for prostate cancer research and $23.8 million for bone-marrow transplants.

LOSERS

1. Individuals: Personal income tax cuts to begin in July 2015 to help with the carbon tax deferred until carbon price estimates reach $25.40. New estimate for 2015-16 is just $12.10.

2. Environment: Deferral of $370 million of funding for the Australian Renewable Energy Agency, while $225.4 million will be deferred and $32.3 million redirected from the biodiversity fund. $58 million in funding for the Clean Technology Program moved to 2017-18.

3. Resources: Tighter rules on exploration deductions for miners that give the government $1.1 billion over four years. $500 million cut from carbon capture and storage programs.

4. Multinational companies: Tightening of the corporate tax system to remove erosion and loopholes, bringing the government extra revenue of about $4.1 billion and $219.20 million in savings.

5. Foreign aid: The government will defer an increase in the aid budget to 0.5 per cent of the gross national income by one year to 2017-18, saving it $1.9 billion.

6. Families: A reduction in the time allowed to claim family tax benefits and child-care assistance will save the government $562 million over five years, while changes in the eligibility age for another tax benefit will save $76.6 million over four years.

This story Administrator ready to work first appeared on Nanjing Night Net.