Preventive Health Agency calls for volumetric tax on cask wine

THE price of a four-litre cask of wine would double to almost $27 under a government agency’s plan to overhaul alcohol taxation. But wine now costing more than $20 a bottle could become cheaper under the plan, which could raise the government around $900 million. The Australian National Preventive Health Agency will today reject calls […]

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Water companies to charge interest on overdue accounts for Melbourne households

MELBOURNE households face another cost-of-living sting, with water companies gaining crucial support to charge interest on overdue accounts. Consumer groups have branded the move a blow for customers. But water businesses are adamant the vulnerable will be protected. The Essential Services Commission has recommended allowing metropolitan providers to charge interest on unrecovered money from next […]

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Beware the building cost of carbon tax

THE introduction of the carbon tax on July 1 has received much attention, with most commentators acknowledging that it will have far-reaching implications. Despite this, Master Builders has been surprisingly unsuccessful in pointing the spotlight at the inevitable impact the carbon tax will have on the cost of building and, in turn, housing affordability. Unlike […]

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BANKS’ failure to pass on full interest rate cuts is forcing more homeowners into mortgage arrears across Australia, a new report shows.

Research by global ratings agency Moody’s reveals that mortgage customers are increasingly defaulting on their payments – albeit at low official cash rates – as house prices slide and equity falls. While the national 30-day delinquency rate remained steady at 1.8 per cent in the 12 months to May 2012, they have spiked sharply in […]

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Moore Capital Management hedge fund trader Greg Coffey retires at age 41 with $665 million

A FLAMBOYANT hedge fund trader nicknamed the Wizard of Oz has announced his retirement at the tender age of 41 – with a fortune of $665 million (£430m) to enjoy. London-based Greg Coffey also has a portfolio of luxury properties dotted all over the world. Sydney-born and Macquarie University graduated Coffey, who famously walked away […]

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10 brilliant quotes from Warren Buffett – the world’s greatest investor

WHEN the world’s richest investor speaks, people listen. Warren Buffett, an 82-year-old American worth about $44 billion and nicknamed the “Oracle of Omaha”, is the most quoted investor on the planet and countless financial experts swear by his words of wisdom. Here are 10 of the most common Buffett quotes, and some lessons we can […]

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End of boom good news for investors

SHAREMARKET investors who worry that the end of the mining boom will damage their portfolios could be in for a pleasant surprise. New research from Macquarie Private Wealth shows that Aussie shares have historically grown better in non-boom periods than in the boom times. Macquarie Private Wealth research director Riccardo Briganti says previous commodity price […]

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