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2018 Australian Federal Budget
The 2018 Australian federal budget was the federal budget to fund government services and operations for the 2018–19 financial year. The budget was presented to the House of Representatives by Treasurer Scott Morrison on 8 May 2018. It was the fifth budget to be handed down by the Liberal/National Coalition since their election to government at the 2013 federal election, and the third and final budget to be handed down by Morrison and the Turnbull Government. Background In mid-April, Acting Prime Minister Michael McCormack described Treasurer Scott Morrison as "Santa Claus" in an interview with the ''Daily Telegraph'', also hinting that there would be spending on transport infrastructure. Morrison stated that the $5 billion Melbourne Airport rail link would be part of this budget. There has been an increase in revenue recently due to stronger than expected commodity prices and an increase in employment. This budget has been described as effectively a pre-election budget fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Review
''The Australian Financial Review'' (abbreviated to the ''AFR'') is an Australian business-focused, compact daily newspaper covering the current business and economic affairs of Australia and the world. The newspaper is based in Sydney, New South Wales, Australia; owned by Nine Entertainment and has been published continuously since its founding in 1951. The ''AFR'', along with the rest of Fairfax Media (aside from some publications which were sold to Australian Community Media), was sold to Nine Entertainment for more than A$2.3 billion.Mergermarket - An Acuris company. (n.d''.). Fairfax Media Limited Nine Entertainment Co. Holdings Ltd Merger.'' Retrieved from www.mergermarket.com/Common/Mergermarket/Deals/DealDetails.aspx?dealsysid=933952&extern=19&id=239512&contextid=1018456074&zone=205¤cyCode=AUD The ''AFR'' is published in tabloid format six times a week, whilst providing 24/7 online coverage through its website. In November 2019, the ''AFR'' reached 2.647 million Au ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National School Chaplaincy Programme
The National School Chaplaincy Programme (NSCP), between 2011 and 2014 known as the National School Chaplaincy and Student Welfare Programme, is an Australian federal government programme which funds chaplains in Australian primary and secondary schools. The chaplains are to provide "support and guidance about ethics, values, relationships and spirituality", and is based on pastoral care, not religious instruction. The grants are $20,000 a year for schools and $24,000 for schools in remote areas. History In October 2006, the Howard Government established NSCP, at an expected cost of $90 million, to provide $20,000 grants for schools to employ chaplains. In Australia, chaplains in state schools have, controversially, been funded by the federal government since 2007, as well as local communities. Chaplaincy services are provided by religious service companies which are predominantly Christian, though non-denominational within Christianity, including Scripture Union Queensland, Genr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Duty Free
A duty-free shop (or store) is a retail outlet whose goods are exempt from the payment of certain local or national taxes and duties, on the requirement that the goods sold will be sold to travelers who will take them out of the country, who will then pay duties and taxes in their destination country (depending on its personal exemption limits and tariff regime). Which products can be sold duty-free vary by jurisdiction, as well as how they can be sold, and the process of calculating the duty or refunding the duty component. Tax Free World Association (TFWA) announced that in 2011 Asia-Pacific, with 35 percent of global duty-free and travel retail sales, has more duty free than Europe and Americas, with these regions accounting for 34 percent and 23 percent respectively. 31 percent of sales came from the fragrances and cosmetics category, followed by the wine and spirit category with 17 percent and then comes tobacco products. However, some countries impose duty on goods bro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Black Economy
A black market, underground economy, or shadow economy is a clandestine market or series of transactions that has some aspect of illegality or is characterized by noncompliance with an institutional set of rules. If the rule defines the set of goods and services whose production and distribution is prohibited by law, non-compliance with the rule constitutes a black market trade since the transaction itself is illegal. Parties engaging in the production or distribution of prohibited goods and services are members of the . Examples include the illegal drug trade, prostitution (where prohibited), illegal currency transactions, and human trafficking. Violations of the tax code involving income tax evasion in the . Because tax evasion or participation in a black market activity is illegal, participants attempt to hide their behavior from the government or regulatory authority. Cash is the preferred medium of exchange in illegal transactions since cash transactions are less-easi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Royal Commission Into Misconduct In The Banking, Superannuation And Financial Services Industry
The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, also known as the Banking Royal Commission and the Hayne Royal Commission, was a royal commission established on 14 December 2017 by the Australian government pursuant to the Royal Commissions Act 1902 to inquire into and report on misconduct in the banking, superannuation, and financial services industry. The establishment of the commission followed revelations in the media of a culture of greed within several Australian financial institutions. A subsequent parliamentary inquiry recommended a royal commission, noting the lack of regulatory intervention by the relevant government authorities, and later revelations that financial institutions were involved in money laundering for drug syndicates, turned a blind eye to terrorism financing, and ignored statutory reporting responsibilities and impropriety in foreign exchange trading. The Honourable Kenneth Madison Hayne , the former ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Securities And Investments Commission
The Australian Securities and Investments Commission (ASIC) is an independent commission of the Australian Government tasked as the national corporate regulator. ASIC's role is to regulate company and financial services and enforce laws to protect Australian consumers, investors and creditors. ASIC was established on 1 July 1998 following recommendations from the Wallis Inquiry. ASIC's authority and scope are determined by the ''Australian Securities and Investments Commission Act 2001''. ASIC, which reports to the Treasurer, is responsible for the administering the following legislation: * ''Australian Securities and Investments Commission Act 2001'' (ASIC Act) * '' Business Names Registration Act 2011'' * ''Corporations Act 2001'' (Corporations Act) * ''Insurance Contracts Act 1984'' * ''National Consumer Credit Protection Act 2009'' (National Credit Act) Additionally, ASIC is also responsible for administering parts of the following legislation: * ''Banking Act 1959'' * ''Li ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kurnell
Kurnell is a suburb in Sydney, in the state of New South Wales, Australia. It is south of the Sydney central business district, in the local government area of the Sutherland Shire along the east coast. Cronulla and Woolooware are the only adjacent suburbs. La Perouse is located opposite, on the northern headland of Botany Bay. The Cronulla sand dunes are on the south eastern headland of Botany Bay. The eastern side of the peninsula is part of Botany Bay National Park, and Towra Point Nature Reserve is located on the western side of the suburb. History Kurnell is the place where Captain James Cook landed on 29 April 1770, making first contact with the original inhabitants of the area, the Gweagal people whilst navigating his way up the East Coast of Australia on Endeavour. Captain Cook along with his crew stayed at Kurnell for a period of eight days. During their visit they collected botanical specimens, mapped the area and tried to make contact (unsuccessfully) with the indi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Captain Cook
James Cook (7 November 1728 Old Style date: 27 October – 14 February 1779) was a British explorer, navigator, cartographer, and captain in the British Royal Navy, famous for his three voyages between 1768 and 1779 in the Pacific Ocean and to New Zealand and Australia in particular. He made detailed maps of Newfoundland prior to making three voyages to the Pacific, during which he achieved the first recorded European contact with the eastern coastline of Australia and the Hawaiian Islands, and the first recorded circumnavigation of New Zealand. Cook joined the British merchant navy as a teenager and joined the Royal Navy in 1755. He saw action in the Seven Years' War and subsequently surveyed and mapped much of the entrance to the St. Lawrence River during the siege of Quebec, which brought him to the attention of the Admiralty and the Royal Society. This acclaim came at a crucial moment for the direction of British overseas exploration, and it led to his commission in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Varroa Jacobsoni
''Varroa jacobsoni'' is a species of mite that parasitises ''Apis cerana'' (Asian honey bees). The more damaging ''Varroa destructor'' was previously included under the name ''V. jacobsoni'', but the two species can be separated on the basis of the DNA sequence of the cytochrome oxidase I gene in the mitochondrial DNA. Biogeography Prior to recent studies, ''V. jacobsoni'' was considered homogeneous; however, current research has detected genetic variance among populations by using genetic markers. This finding has led to the belief that ''V. jacobsoni'' was introduced to the Americas multiple times. The hosts switching between the eastern ''A. cerana'' and the western ''A. mellifera'' is the major factor that broadens the pathological transmission of ''V. jacobsoni''. It has spread worldwide with the exception of Australia and central Africa. Evolution At least 30 lineages of mites have specialised in living with bees. Most mite species associa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
JobSeeker Payment
Social security, in Australia, refers to a system of social welfare payments provided by Australian Government to eligible Australian citizens, permanent residents, and limited international visitors. These payments are almost always administered by Centrelink, a program of Services Australia. In Australia, most payments are means tested. History Prior to 1900 in Australia, charitable assistance from benevolent societies, sometimes with financial contributions from the authorities, was the primary means of relief for people not able to support themselves. The 1890s economic depression and the rise of the trade unions and the Labor parties during this period led to a movement for welfare reform. In 1900, the states of New South Wales and Victoria enacted legislation introducing non-contributory pensions for those aged 65 and over. Queensland legislated a similar system in 1907 before the Australian labor Commonwealth government led by Andrew Fisher introduced a national aged p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robodebt Scheme
The Robodebt scheme was an unlawful method of automated debt assessment and recovery employed by Services Australia as part of its Centrelink payment compliance program. Put in place in July 2016 and announced to the public in December of the same year, the scheme aimed to replace the formerly manual system of calculating overpayments and issuing debt notices to welfare recipients with an automated data-matching system that compared Centrelink records with averaged income data from the Australian Taxation Office. The scheme has been the subject of considerable controversy, having been criticised by media, academics, advocacy groups, and politicians due to allegations of false or incorrectly calculated debt notices being issued, concerns over impacts on the physical and mental health of debt notice recipients, and questions around the lawfulness of the scheme. Robodebt has been the subject of an investigation by the Commonwealth Ombudsman, two Senate committee inquiries and sever ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
