Millions of dollars have been rorted from a federal government scheme introduced to encourage Australian companies to invest in research and development, including claims from bankrupts, a property spruiker and a disgraced businessman. The Research and Development (R&D) Tax Incentive program is the government’s largest industry innovation package, providing about $3 billion in tax offsets to businesses each year.…
Jul 03, 2017 01:20 PM IST | Source: NEWS18.com In its April order, the High Court had asked the Tamil Nadu government to waive farm loans obtained by all farmers, instead of limiting the benefit only to those owning less than five acres of land. Farmers The Supreme Court on Monday stayed a Madras High…
LONDON Restructuring operations around a hard Brexit could cost UK banks 15 billion (£13.1 billion) and add 40 billion (£35 billion) to tier one capital requirements, according to a new report. A report for the Association of Financial Markets in Europe (AFME), compiled by the Boston Consulting Group and Clifford Chance, suggests that Britains exit…
A deputy lord lieutenant of Nottinghamshire has been banned from being a company director for three years. Edwin Alexander Maxwell was the sole director of Nottingham-based E.A.M. Electrical Ltd which dealt with electrical installations. The Insolvency Service said Maxwell caused the company to trade to the “detriment” of HMRC in respect of Pay as You…
Millions of dollars have been rorted from a federal government scheme introduced to encourage Australian companies to invest in research and development, including claims from bankrupts, a property spruiker and a disgraced businessman. The Research and Development (R&D) Tax Incentive program is the government’s largest industry innovation package, providing about $3 billion in tax offsets to businesses each year.…
ALSTONVILLE-based Flynn Transport has suddenly shut its gates after 27 years this morning, leaving more than 60 people jobless. Employees were informed at a staff meeting that the business was struggling with debt problems and director and founder Tony Flynn had opted to liquidate the company’s assets. Mr Flynn told The Northern Star he had…
ANDY JACKSON/Fairfax NZ Liquidators were appointed in the case of Little Crate Limited following a High Court hearing in New Plymouth on June 27. (File Photo) A company behind a New Plymouth cafe has been placed into liquidation. Two accountants have been appointed as liquidators in the case of Little Crate Limited, following a hearing…
This is the face of a Millennial crime wave: there’s the party guy, there’s the bovver boy and then there’s Mr Invisible, the guy who leaves no tracks. The Plutus Payroll scam, one of the largest alleged tax frauds in Australian history, was run by a handful of 20- to 30-year-olds, Gen Y stereotypes with…
No sector was spared by the 1997 financial crisis, causing economic devastation and massive unemployment.SOMKID CHAIJITVANIT It has been 20 years since the financial crisis engulfed Thailand, sending shock waves to other Southeast Asian peers — including Malaysia, Indonesia and the Philippines. Widely believed to have started with the Thai baht devaluation on July 2,…
Despite its massive outperformanceL&T Finance Holdings gained 85% during the last one year compared to the 15% gain in the Sensexanalysts continue to be bullish on the counter. This is because the company has shown robust performance in the past four quarters. Despite the ongoing restructuring, L&T Finance Holdings’ gross loan increased 14% year-on-year (y-o-y)…