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WELLINGTON: SkyCity Entertainment Group has agreed to
buy Queenstown’s Wharf Casino for $5 million from Malaysia’s
Lasseters, adding 74 electronic gaming machines and six
gaming tables to its existing operations in the resort town.
The deal is subject to Commerce Commission and Gambling
The company moved to 100 per cent ownership of
Queenstown Casino in December, buying out Skyline
Enterprises’ 40 per cent stake for $5 million.
“Queenstown is already a very popular destination for our
overseas VIP guests,” chief executive Nigel Morrison said in
“ The purchase of the Wharf Casino is part of our... READ MORE
SkyCity to buy $5m Queenstown casino
SYDNEY: The prospects for Australian businesses are
looking healthier, with spending across the economy rising
for the eighth consecutive month.
Commonwealth Bank’s Business Sales Indicator (BSI) found
that spending rose 0.5 per cent in trend terms in April.
It was the eight month-on-month increase in a row, with
spending up 4.9 per cent in April compared to... READ MORE
Economy wide spending up in April
To keep up
With the latest
From Knight Frank
Wellington East, SA
An established marina on two separate
freehold Titles totalling 19.50 hectares
Under instructions from Michael Basedow and Leigh Prior
as Receivers and Managers Appointed.
Pitcher Partners, Level 19, 15 William Street, Melbourne VIC 3000
Telephone: +61 3 8610 5000, Facsimile: +61 3 8610 5999, firstname.lastname@example.org, www.pitcher.com.au
7 May 2013
MORE STIMULUS NEEDED FOR SMALL BUSINESS GIVEN $225 MILLION
SURPLUS IN VICTORIAN BUDGET, SAYS PITCHER PARTNERS
Victorian Treasurer Michael O’Brien’s first state Budget makes promises to help small business
through reducing red tape and the funding of $16 million to drive business innovation over the
next four years, however, more could have been done to help small business on the ground in
terms of relief from payroll tax, stamp duty and WorkCover premium costs, says Pitcher Partners
partner Craig Whatman.
“Given that the Treasurer is promoting the surplus forecast in the next four years to grow to $2.5
billion by 2016/17, we would like to have seen a commitment to raising the payroll tax threshold
and reducing the payroll tax rate so that small businesses aren’t still caught within the payroll tax
net and don’t incur a large payroll tax liability. There also is no mention of relief from other
imposts on business such as stamp duty and WorkCover premiums.”
First Home Owners
Mr Whatman said he welcomed the Government’s decision to increase the First Home Owner
Grant for new homes to $10,000 and to bring forward the new 40% First Home Buyer land
transfer duty concession by six months to 1 July 2013. He said that will help re-invigorate
Victoria’s residential property market, particularly in the growth corridor areas on the urban
“However, a complete rebound of the property market won’t be realized following the removal
of the $7,000 First Home Owner Grant for established homes.”
Land tax principal place of residence exemption
Mr Whatman said the Government has also put property owners on notice that the State Revenue
Office (SRO) will be targeting perceived anomalies in the claiming of the land tax principal
place of residence exemption.
“The SRO will be undertaking increased data matching with other agencies in order to find
taxpayers who are incorrectly claiming the exemption from land tax. Those taxpayers likely to be
targeted are ones who are claiming the principal place of residence exemption in respect of
multiple residences, those who operate some form of business activity from their principal
residence, and circumstances where the residence is held in a trust.
“We recommend that property owners in these categories review their entitlement to the
exemption as soon as possible,” Mr Whatman said.
NEW YORK: The board of Yahoo! has agreed to a deal to
purchase the popular blogging platform Tumblr for $US1.1
billion ($A1.13 billion), the Wall Street Journal reports.
Yahoo! did not immediately return AFP’s calls for
confirmation, but CEO Marissa Mayer has scheduled a news
conference in New York on Monday at which the company
said it will unveil “something special.”
Yahoo! to buy Tumblr for $US1.1bn: report
We are delighted to invite you, your clients and colleagues to a Business Lunch
WHEN: 12:00 noon for 12:30pm start – 2:00pm Monday, 27th May 2013
WHERE: Ballroom InterContinental, North Terrace, Adelaide
TICKETS: AICC member: $121(inc. GST) Non-AICC member: $154(inc. GST)
Roger Corbett AO
Chairman, Fairfax Limited
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