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Retiring federal politicians will get six-figure pensions for life

Former ministers Warren Truss and Ian Macfarlane are among 16 retiring MPs who will benefit from a generous six-figure parliamentary pension. Photo: Andrew Meares The majority of federal politicians who have announced their retirement this year will be paid annual pensions of at least $118,000 - and in some cases...
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U.S. watchdog to probe Fed’s lax oversight of Wall Street

A U.S. watchdog agency is preparing to investigate whether the Federal Reserve and other regulators are too soft on the banks they are meant to police, after a written request from Democratic lawmakers that marks the latest sign of distrust between Congress and the central bank. Ranking representatives Maxine Waters...
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Big four accounting firms avoid scrutiny in multinational tax avoidance

Not convinced: Labor Senator and tax avoidance inquiry committee Chair Sam Dastyari says corporate tax cheats should be named and shamed by the tax office. The Senate Inquiry into corporate tax avoidance is due to hand down its final report by April. One of the lesser-mentioned groups appearing before 2015’s...
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Morrison ticks off sale of Australia’s biggest dairy to Chinese buyer

February 23, 2016 by Michelle Grattan Professorial Fellow, University of Canberra Treasurer Scott Morrison has approved the $280 million sale of Australia’s largest dairy farming business to the Chinese-owned Moon Lake Investments. Morrison announced he had agreed to the acquisition of the land and assets of the Tasmanian Land Company (TLC),...
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Should Australians follow the British lead and boycott tax avoiders?

Elfriede Sangkuhl, The Conversation December 18, 2012 In the UK the recent boycott of Starbucks by consumers has helped elicit a pledge from the coffee giant to pay £20 million in taxes over the next two years. In Australia, consumers would be appalled to realise how little tax is paid...
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Card giant MasterCard lowers local tax bill

BUSINESS
MasterCard lowers its local tax bills through deals with Singapore's Government The wonderful thing about investigating multinational tax avoidance is that, despite the corporate spin and obfuscation, there is a hard number that you can always hang your hat on. No matter the highfalutin excuses from slick PR types and the rhetoricians...
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Google accounts show 11 billion euros moved via low tax ‘Dutch sandwich’ in 2014

Google moved 10.7 billion euros ($12 billion) through the Netherlands to Bermuda in 2014, as part of a structure which allows it to earn most of its foreign income tax free. Accounts for Google Netherlands Holdings BV published on Thursday show the unit transferred almost all its revenue, mainly royalties...
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Google boss claims he does not know his salary in Commons grilling

Google’s executives have been accused of being out of touch with reality after the company’s most senior UK-based executive was unable to tell MPs how much he earned. Matt Brittin appeared before the public accounts committee on Thursday to be questioned alongside senior tax officials about £130m in back taxes...
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How Do You Stop the Biggest Gas Leak Ever?

Steve Conley got the call early on Nov. 5. A natural gas storage well was leaking methane into the air at Aliso Canyon, near a Los Angeles suburb, and no one knew just how bad it was—could he get a read on it? Conley, an atmospheric scientist and a...
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Google Ireland staff paid much less than London colleagues

Google Ireland staff paid much less than London colleagues Average wage of £72,000 compares with London staff average salary of £160,000 – despite booking £5bn sales from UK advertisers in 2015 Workers at Google Ireland, the search group’s European sales hub, earn less than half the £160,000 average wage of colleagues...
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