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IndyWatch Australian Economic News Feed was generated at Australian News IndyWatch.

Wednesday, 23 March

14:17

50 years after the lucky country, Australia’s challenge remains Renew Economy

Australia is among the worst of the affluent countries on resource use, waste production, greenhouse gases and obesity. Still feeling lucky?

14:15

Better health a key benefit of renewables, study says Renew Economy

A new study says there’s another important benefit to renewables development: cost savings from cleaner air that saves lives.

14:03

NSW upper house backs call to give renewables “strategic project” status Renew Economy

NSW Greens motion aimed at ensuring large-scale renewables projects pass through planning in a "smooth and speedy way" has won unanimous support.

13:14

Ex ARENA chair says Turnbull risks pushing clean energy innovation overseas Renew Economy

Former ARENA chair warns PM innovation needs grants, not equity. Also rejects Hunt attack on ARENA project choices.

13:07

UK throws lifeline to offshore wind, as vacuum company Dyson moves into battery storage Renew Economy

UK government announces plans to allocate $1bn by 2021 to offshore wind farms and other less-established renewable energy technologie

13:06

How can global CO2 levels soar when emissions are flat? Renew Economy

Last year saw the biggest jump in global CO2 levels ever, yet in 2015 energy-related CO2 emissions were flat. So what's going on?

08:36

Doing It Tough – Stories, Songs, And Poetry – And How To Push Back Sat 9 April Anti Poverty Network SA

WHAT: Doing It Tough – Stories, Songs, And Poetry – And How To Push Back WHEN: Saturday April 9th, 4pm-7pm (dinner at 5:30pm) WHERE: Junction Community Centre, 2a May Terrace, Ottaway (off Grand Junction Road) FACEBOOK: facebook.com/events/587303464768047/   Anti-Poverty Network SA wants to hear your story!! Help us fight the war on the poor by putting ... Read more

07:10

Turnbull’s sleight of hand on clean energy investment Renew Economy

Malcolm Turnbull says he will protect the CEFC with one hand, but will take $1.3 billion of ARENA funds with another. A new fund is created to invest in debt and equity in "low carbon" technologies, but R&D in renewables is left high and dry.

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Tuesday, 22 March

23:59

Peter Costello’s indefensible legacy Prosper Australia

On Friday, Peter Costello used Fairfax to tell us how handsome he is and how splendidly the Future Fund he chairs is performing. He was responding to fellow establishment figure Howard Mitchell’s comparing its returns against the Alaska Permanent Fund. The whole debate was probably a Tory setup. They do odd things like that. Alaska’s […]

21:50

How/will electricity retailing be disrupted? Renew Economy

Just as the traditional TV, satellite and cable TV business are losing market share to newcomers, incumbent utilities can expect increased competition on the grid‘s edge.

19:01

Revealed. The 56 Australian millionaires who pay next to no income tax: Peter Martin

Paying tax has become optional for 56 of Australia's highest earners.

Newly-released tax statistics show each of the 56 paid next to no income tax in 2013–14, not even the Medicare Levy, even though each earned more than $1 million.

But escaping tax cost the millionaires dearly. The same document shows 27 of the 56 claimed a combined $46.7 million for the "cost of managing tax affairs", around $1.7 million each.

The Tax Office says "cost of managing tax affairs" includes the cost of preparing and lodging tax returns, the fees paid to recognised tax advisors, the cost of court appeals and interest charges imposed in relation to tax disputes.

Combined, the 56 earned $128.6 million, around $2.3 million each.

The claims for the cost of managing tax affairs are so big in relation to their reported incomes as to raise suspicions that at least some had access to extra income they did not report.

Each of the 56 managed to drive their taxable incomes down below the $18,200 tax-free threshold. Fifty-one managed to drive their taxable incomes down below $6000. Forty-three reported taxable incomes of zero. Eight reported combined losses of $19.3 million.

Fifteen claimed a combined $21 million for gifts or donations to charities and political parties, equating to $1.4 million each. Three claimed deductions for uniforms or clothing, amounting to $150 each. Seven claimed deductions for interest payments, amounting to a combined $4 million.

Nine had been unsuccessful farmers, carrying forward previous losses of $6 million. Four had been unsuccessful in other busine...

Monday, 21 March

00:50

China’s Economic Planning Dilemma The Diplomat » Pacific Money

Authorities face a choice of maintaining control or continuing to unleash market forces.

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