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Friday, May 12, 2006

Peter Costello’s budget announcement has led to rejoicing for small businesses, but the lack of joy for those pushing for radical corporate taxation reform has led to many businesses asking “what about us?”

Personal taxation and small business have been the big winners after this year’s federal budget. Although dampened by the twin economic threats of rising interest rates and petrol prices, there should be a reasonable amount of real income savings for both low and high income earners, with those receiving Medicare, or a superannuation benefit, privy to an even lower level of taxation (0% for those on super benefits).

Small business also has benefited from the Howard government’s 11th annual budget, with them receiving a higher level of reducing depreciation, leading to a higher level of deductions in the years following the uptake of new technology or other capital. They are also privy to a AU$435 million dollar tax cut to compensate for their changing accounting requirements under the government’s new AIFRS reporting standards, as well as increasing the uptake of both the small business tax relief scheme and CGT (Capital Gains tax) Concessions.

The budget was not a complete loss for big business however, as superannuation laws have been tweaked to streamline contribution and payment rules previously impeding those with multitudes of staff.

But this is not enough, says Big 4 accounting firm Ernst & Young. In their newly published paper “Taxation of Investment in Australia: the need for ongoing reform”. In it they lead the charge for a greater streamlining and organization of the corporate tax system in Australia, submitting that it will lead to reductions in “disincentives to work save and invest in Australia [as well as improving] the international competitiveness of Australian businesses.” This follows from a recent report brought out by Mr. Costello himself about the need for tax reform in Australia.

A budget night Mr. Costello was notably coy about any future reform of corporate tax in Australia. He alluded to the report by his ministers but kept from outlining the government’s plan precisely.

Sunday, February 13, 2005

New York –”Buy cheap Viagra through us – no prescription required!” Anyone with an active email account will recognize lines like this one. According to some reports, unsolicited advertisements (spam) for Viagra and similar drugs account for one in four spam messages.

Ever since pharmaceutical giant Pfizer promised to cure erectile dysfunction once and for all with its blue pills containing the drug sildenafil citrate, spammers have tried to tap into male anxiety by offering prescription-free sales of unapproved “generic” Viagra and clones such as Cialis soft tabs. Legislation like the U.S. CAN-SPAM act has done little to stem the tide of email advertising the products.

Now Pfizer has entered a pledge with Microsoft Corporation, the world’s largest software company, to address the problem. The joint effort will focus on lawsuits against spammers as well as the companies they advertise. “Pfizer is joining with Microsoft on these actions as part of our shared pledge to reduce the sale of these products and to fight the senders of unsolicited e-mail that overwhelms people’s inboxes,” said Jeff Kindler, executive vice president at Pfizer.

Microsoft has filed civil actions against spammers advertising the websites CanadianPharmacy and E-Pharmacy Direct. Pfizer has filed lawsuits against the two companies, and has taken actions against websites which use the word “Viagra” in their domain names. Sales of controlled drugs from Canadian pharmacies to the United States are illegal, but most drugs sold in Canada have nevertheless undergone testing by the U.S. Food and Drug Administration. This is not the case for many of the Viagra clones sold by Internet companies and manufactured in countries like China and India. While it was not clear that CanadianPharmacy was actually shipping drugs from Canada, Pfizer’s general counsel, Beth Levine, claimed that the company filled orders using a call center in Montreal, reported the Toronto Star.

For Microsoft’s part, they allege that the joint effort with Pfizer is part of their “multi-pronged attack on the barrage of spam.” As the creator of the popular email program Outlook, Microsoft has been criticized in the past for the product’s spam filtering process. Recently, Microsoft added anti-spam measures to its popular Exchange server. Exchange 2003 now includes support for accessing so-called real-time block lists, or RTBLs. An RTBL is a list of the IP addresses maintained by a third party; the addresses on the list are those of mailservers thought to have sent spam recently. Exchange 2003 can query the list for each message it receives.

Wednesday, January 6, 2010

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This Tuesday, at a wholesale auction at the Tsukiji fish market in Tokyo, a 512-pound bluefin tuna was sold for over sixteen-million yen ($177,000 USD). The great fish was bought and then shared by the owners of a local sushi restaurant and a Hong Kong-based dining establishment. This tuna is the most expensive fish sold on record since 2001, when a 440-pound tuna was sold for over twenty-million ($220,000) at the very same market.

When asked by local media outlets why he decided to purchase this giant tuna, the Hong Kong restaurateur said, “I want[ed] to make an impact on the Japanese and Hong Kong economies by buying the highest-priced tuna.”

This locally caught tuna was among over two-thousand others bought and sold at this bustling fish market. Japan is the world’s largest consumer of seafood per annum. With tuna being a major staple of their cuisine, the Japanese eat nearly eighty-percent of all commercially caught bluefin.

However, tuna consumption in Japan has declined over recent years due to the change in the spending habits of its people as a result of economic downturns from the most recent recession.

“Consumers are shying away from eating tuna…We are very worried about the trend,” a spokesperson for the Tsukiji market told the Associated Press.

In addition to the lack of demand and declining tuna stocks, fishermen and wholesalers worldwide are worried by the possibility of tighter fishing regulations that will be sanctioned and enforced by the Japanese government. Despite this promise, many environmentalists say that this is not going far enough; they say that the only way to curb the inevitable extinction of the Pacific bluefin tuna is to initiate a trade ban on the fish altogether.

Thursday, December 31, 2009

A suicide bomber attacked an American base in the Khowst region on the Pakistani border of Afghanistan, leaving seven American CIA officers dead and six injured. No American or NATO military personnel were killed or injured in the attack on Forward Operating Base Chapman.

It appears that the suicide bomber, reportedly wearing an Afghan National Army uniform, blew himself up in either the gym or the dining facility of Base Chapman.

In a statement on the Voice of Jihad web page, the Taliban claimed responsiblity for the attack, alleging 20 “CIA employees” were killed in the incident.

The Chapman Base is a converted military base which is now being used for civilian reconstruction operations, although military personnel are still located on the base. Camp Salerno, the main base in the Khowst province, has been the target of many attacks in recent weeks.

Recent attacks have been focused on foreign civilians, such as an incident in October in which 7 foreign and 3 Afghan civilians were killed in an attack at a UN guest house. The CIA has not lost this many operatives in nearly 25 years and the last time CIA agents were killed was in 2003.