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Time’s ticking: ATO to report overdue tax debts to credit agencies

Businesses that put off paying large tax bills for too long may soon find that the Australian Taxation Office (ATO) has notified credit reporting bureaus. The proposal is part of The Treasury Laws Amendment (2019 Tax Integrity and Other Measures No.1) Bill, which was recently introduced into parliament. The Bill will provide the ATO with the discretion to disclose to credit reporting bureaus when a business has a debt of $100,000 for 90 days or more. “This will reduce the unfair…...
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Planning ahead: RBA says expect long-term low interest rates

Good news for mortgage holders this week, with the RBA saying "it’s reasonable to expect an extended period of low interest rates". Figures released on Wednesday show that core inflation, the RBA's preferred measure, is currently at 1.4%. However, Reserve Bank of Australia (RBA) Governor Philip Lowe says it is highly unlikely the RBA will contemplate higher interest rates until it’s confident that inflation has returned to 2-3%. “Whether or not further monetary easing (aka further rate cuts) is needed,…...
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