Calls for corporate tax reform in Australia goes unheeded

Friday, May 12, 2006

Peter Costello’s budget announcement has led to rejoicing for small businesses, but the lack of joy for those pushing for radical corporate taxation reform has led to many businesses asking “what about us?”

Personal taxation and small business have been the big winners after this year’s federal budget. Although dampened by the twin economic threats of rising interest rates and petrol prices, there should be a reasonable amount of real income savings for both low and high income earners, with those receiving Medicare, or a superannuation benefit, privy to an even lower level of taxation (0% for those on super benefits).

Small business also has benefited from the Howard government’s 11th annual budget, with them receiving a higher level of reducing depreciation, leading to a higher level of deductions in the years following the uptake of new technology or other capital. They are also privy to a AU$435 million dollar tax cut to compensate for their changing accounting requirements under the government’s new AIFRS reporting standards, as well as increasing the uptake of both the small business tax relief scheme and CGT (Capital Gains tax) Concessions.

The budget was not a complete loss for big business however, as superannuation laws have been tweaked to streamline contribution and payment rules previously impeding those with multitudes of staff.

But this is not enough, says Big 4 accounting firm Ernst & Young. In their newly published paper “Taxation of Investment in Australia: the need for ongoing reform”. In it they lead the charge for a greater streamlining and organization of the corporate tax system in Australia, submitting that it will lead to reductions in “disincentives to work save and invest in Australia [as well as improving] the international competitiveness of Australian businesses.” This follows from a recent report brought out by Mr. Costello himself about the need for tax reform in Australia.

A budget night Mr. Costello was notably coy about any future reform of corporate tax in Australia. He alluded to the report by his ministers but kept from outlining the government’s plan precisely.

Wednesday, December 7, 2016

Chemotherapy is usually associated with a collection of side effects ranging from digestive problems to hair loss, but a study published this week in Human Reproduction demonstrated that female cancer patients may find they have something in common with much younger women in one specific area — their ovaries.

Scientists from the University of Edinburgh examined donated ovarian tissue from fourteen female cancer patients, most of whom had Hodgkin lymphoma, and compared it to tissue from healthy women. They found the samples from women who had been treated with a specific chemotherapeutic regimen known as ABVD not only contained greater numbers of dormant ova — egg cells — than those from women treated with harsher regimens but also more than samples from healthy women. ABVD is named for combining several drugs known as adriamycin, bleomycin, vinblastine, and dacarbazine.

These reproductive cells were not merely more plentiful in ABVD patients. They also appeared immature, “new” in the words of lead researcher Evelyn Telfer. This challenges the conventional belief that girls are born with all the ova they will ever have and the numbers can only go down as the cells are either used up by the reproductive cycle or succumb to damage or natural aging. However, further research is needed to confirm this. The study covered relatively few patients by scientific standards, and David Albertini of the Center for Human Reproduction in New York has suggested the cells may not actually be freshly grown. Instead, they may have always been there and were merely rendered more detectable by ABVD treatment.

The ability to grow new egg cells may have significant implications for women in Western societies, many of whom postpone childbearing to establish careers, sometimes into their late thirties or forties. However, Telfer warns against making use of these findings too soon: “There’s so much we don’t know about the ovary. We have to be very cautious about jumping to clinical applications.”

The experiments had been discussed earlier this year at the annual conference of the European Society of Human Reproduction and Embryology.

Friday, June 15, 2007

The Democratic People’s Republic of Korea (DPRK) has received US$25,000,000 frozen in 2005 as part of the general crackdown on the communist state.

The funds had been frozen in a Macau bank after the United States earlier alleged that the money was gained from activities including money laundering and counterfeiting.

The DPRK had demanded return of the money as a precondition to engaging in the six-party talks. In February, the U.S. agreed to allow North Korea to retrieve their funds.

Monday, October 2, 2006

Buffalo, New York —Sam Savarino, CEO of Savarino Companies, the development company to be in charge of building the Elmwood Village Hotel at Forest and Elmwood Avenues in Buffalo, New York has told Wikinews in an exclusive interview that the contract to buy the properties from 1109-1121 on Elmwood Avenue in Buffalo has been “extended,” but would not elaborate on how long the extension would last.

“We have extended our agreement to purchase the property and will have it under contract for what we hope is a sufficient period of time,” said Savarino.

The hotel would require the demolition of the five properties on Forest and would cause several businesses to relocate or close their doors. The hotel will be 72 rooms and will cost at least 7 to 10 million dollars to build. Wyndham Hotels is expected to be the owner/operator of the hotel. The properites are still owned by Hans Mobius. Two other properties, 605 and 607 Forest might also be part of the proposal, but lawsuits have so far stopped any development from taking place.

Savarino also stated in a recent interview with Wikinews that his company may be “about ready for round two” in the process of resubmitting the hotel proposal to the City of Buffalo’s Common Council and Planning Board.

“If we were to go through the re-zoning process again it could be arduous,” said Savarino.

In July, Savarino “withdrew” the proposal which is undergoing a “do-over,” according to Vice President of Savarino Companies, Eva Hassett.

In related news, several residents around the area of the proposed hotel were speculating that current roadwork to repair and add sewer lines on Forest Avenue were part of the construction process for the proposed hotel. Savarino has denied those claims.

“We are certainly not doing any work on the site nor is any work being performed on our behalf or at our direction [in relation to the hotel],” said Savarino.

So far, the proposal has not been resubmitted to the City’s Common Council or Planning board and there is no word on when the proposal will be resubmitted.

Wyndham Hotels, which is owned by Cendant Corporation, has not commented on the proposal despite several attempts to contact them.

Monday, February 18, 2008

Television producer and owner of the anti-Scientology website www.xenutv.com (XenuTV), Mark Bunker, also known as Wise Beard Man, chatted online with Wikinews for nearly three hours. More than 120 people followed the interview live (many from Project Chanology), which makes this exclusive Wikinews interview our most attended IRC interview to date.

Bunker started XenuTV in 1999 and began to make videos that he provided for the Lisa McPherson Trust. Bunker has been a critic of the Church of Scientology since 1997.

In 2006, he won a Regional Emmy Award after he and KUSI-TV news reporter Lena Lewis produced a documentary news video on the issues with the United States – Mexico border with San Diego, California.

Monday, September 19, 2005

On Sunday, Afghanistan held its first democratic general elections. They are the first elections held in the country since last year’s presidential elections.

There was voter participation of about 50%, compared with 70% for the previous presidential election. According to Bimillah Bismal, head of the Afghan-UN Joint Electoral Management Body, “The election was held in a peaceful manner…there was also a high level of political awareness and participation amongst the Afghan people.”

Voting proceeded calmly, with little violence at the polling stations, most of which were able to remain open throughout Saturday.

There are approximately 5,800 candidates, competing for 420 slots in the provincial court, and 249 deputy positions in the wing of the Afghani Parliament (Wolesi Jirga).

Violence did sprout up occasionally, with four election officials killed in the past year, as well as seven contenders for deputy positions. However, the US-led coalition is working to minimize these problems during the elections, and, so far, Taliban militant actions have not been an overwhelming issue.

Women have a sizable role to play in these elections–they can vote, and 10 percent of the candidates are female. Even in the more conservative southern areas of Afghanistan, a sizable number of female voters came to the polling stations.

Preliminary election results are expected by October 10.

Tuesday, September 6, 2005

In a press release issued Saturday, September 3rd, 2005, Democratic Senator Mary L. Landrieu of Louisiana claims that President Bush staged a photo opportunity, at the breached 17th Street levee, by having equipment quickly moved into the background during the event. Senator Landrieu says the equipment was dispersed elsewhere the next day, but did not provide details.

Landrieu says in her press release, ” … we witnessed a hastily prepared stage set for a Presidential photo opportunity; and the desperately needed resources we saw were this morning reduced to a single, lonely piece of equipment. The good and decent people of southeast Louisiana and the Gulf Coast — black and white, rich and poor, young and old — deserve far better from their national government …”

The President and Senator Landrieu toured the 17th Street levee on Friday, and held the photo-op. Senator Landrieu said she believed the repair effort was legitimate, at that time. Less than 24 hours later, she discovered only “one lonely crane” working on the site, while giving an aerial tour for ABC’s This Week with George Stephanopoulos. A video of her tearful comments, during that tour, has been circulating around the internet (WMV).

Senator Landrieu made no specific accusations about the photo-op during the ABC tour. However, neither does her press release describe any measures taken to verify that equipment was in-fact pulled from other projects for the purpose of the photo-op, nor where the equipment is now. The canal wall breach, near Hammond Highway, was later shown Sunday on CBS’ 60 Minutes with dump trucks and a power shovel building a single-lane pathway across the gap. The breach was closed Monday.

Senator Landrieu was herself criticized by Anderson Cooper (CNN) on Thursday, after she responded to a question by rattling off a list of “thank yous” to other politicians (WMV, transcript). Democratic pundits have excused such detachment as an attempt to gain more federal assistance during the tragedy. Senator Landrieu’s press release partially confirms this interpretation by attempting to simultaneously ask the president for more aid, while accusing him of misusing existing resources.

Although press reports mentioned the 17th Street Canal breach was blocked by the use of metal sheets, sandbags, and dumped fill, details were not available. On Wednesday September 7 it was reported that earlier metal girders, often used for retaining walls, had been hung down from the north side of the Hammond Highway bridge so as to form a metal wall which blocked the canal from the lake. After the breach had been closed, by sandbags and fill delivered by dump truck, the metal wall was opened to allow draining of the city through the canal.

Obviously placing the metal wall required an assortment of equipment which was no longer needed after it was in place. The wall was only visible from the bridge and most dry land as a few feet of metal along the bridge railing. It is not known if Senator Landrieu noticed this work of engineering, nor if she had been briefed as to what was being done.

However, photos of work at the site were later found which showed a lot of activity Sept 4, after Landrieu said the equipment was not there. However, the sheet piling wall in the photo was reported to have been completed September 2. Information of the schedule of similar work at the London Avenue breach has not been found.

Monday, August 21, 2006

A report by the International Water Management Institute (IWMI) says rising demand for irrigation to produce food and biofuels will aggravate scarcities of water. “One in three people is enduring one form or another of water scarcity,” states the report compiled by 700 experts.

IWMI warns there has to be a radical transformation in the management of water resources – citing as examples Australia, south-central China, and last year’s devastating drought in India. Report authors claim that the price of water could double or triple over the next two decades. The report, backed by the United Nations and farm research groups, shows that globally, water usage had increased by six times in the past 100 years and would double again by 2050 – driven mainly by irrigation and demands by agriculture.

Record oil prices and concerns about rapid onset climate change are driving more countries to produce biofuels – from sugarcane, corn or wood – as an alternative to fossil fuel. “If people are growing biofuels and food it will put another new stress,” says David Molden, who led the study at the Sri Lanka-based IWMI. “The big solution is to find ways to grow more food with less water. Basically, more crop per drop,” Molden said. “The number one recommendation… is to look to improve rain-fed systems in Sub-Saharan Africa and South Asia.”

The report says conquering hunger and coping with an estimated 3 billion more humans by 2050 will result in an 80 percent increase in water use for agriculture. Irrigation absorbs around 74 percent and is likely to surge by 2050.

“We will have to change business as usual in order to deal with growing scarcity,” said Frank Rijsberman, director general of the IWMI, of the report released at the 2006 “World Water Week” conference in Stockholm. Solutions included helping poor countries to grow more food with available fresh water via simple, low-cost measures, a shift from past policies that favoured expensive dams or canals, the report said.

According to Rijsberman, there are two types of shortages: those observed in regions where water is over-exploited, causing a lowering of groundwater levels and rivers to dry up; and those in countries lacking the technical and financial resources to capture water – despite its abundance.

Billions of people in Asia and Africa already faced water shortages because of poor water management, he said. “We will not run out of bottled water any time soon, but some countries have already run out of water to produce their own food,” he said.

The report said that a calorie of food took roughly 1 litre of water to produce, with a kilo of grain needing only 500-4,000 litres compared to a kilo of industrially produced meat taking 10,000 litres.

“Without improvements in water productivity the consequences of this will be even more widespread water scarcity and rapidly increasing water prices.” Rijsberman said water scarcity in Africa was caused by a lack of infrastructure to get the water to the people who needed it. “The water is there, the rainfall is there, but the infrastructure isn’t there,” Rijsberman told reporters.

Other recommendations for certain regions include the extension and the improvement of agriculture using rainwater, the introduction of cereal varieties that need less water as well as the development of irrigation systems.

But the priority, Rijsberman stresses, is to change mentalities and often outdated government policies. “Government policies and their approach to water are probably the most urgent that need changing in the short term,” he said.

There is, he says, enough land, water and human capacity to produce enough food for a growing population over the next 50 years, but one of the challenges is to provide enough water for agriculture without damaging the environment. “Agriculture is driving water scarcity and water scarcity is driving environmental degradation and destruction,” he said.

In Australia last week, Rijsberman said he would “not be surprised to see the price of water double or triple over the next two decades.”