There is a push for a fringe benefits tax exemption on parking, with employers in Melbourne in particular seeking to buy up spaces for staff to stop them taking the risk of catching public transport.
“We know the federal government is spending $101 billion on JobKeeper,” Sky News Political Editor Andrew Clennell said. “The parking industry is asking for $110 million a year break in terms of the FBT. “The argument is fringe benefits tax can double the daily cost of the space. “The industry argues parking is a $4.5 billion a year industry typically, and that they were down $1 billion from January to April.
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Economic impact of COVID-19 to 'hit earnings and dividends' | Sky News AustraliaThe ASX200 is up by about 0.7 per cent in early trade with the Australian Bureau of Statistics set to report Labor force figures on Thursday.\n\nEconomic forecasts predict the unemployment rate to increase from 7.4 per cent to 7.9 per cent over the course of July.\n\nThe GPT Group reported a loss of close to half a billion dollars in the first half of its financial year after its large retail portfolio was significantly affected by a reduction in foot traffic caused by COVID-19 lockdowns. \n\nFreight company Horizon meanwhile reported the coronavirus had no impact on its business which moves coal and other bulk minerals from inland Australia to the coast for export – recording a full-year profit up almost 30 per cent.\n\nAMP Capital’s Shane Oliver said the economic impact of COVID-19 would result in “a big hit to earnings” as a result of the coronavirus shutdowns which will “take earnings growth down to its biggest slump since the GFC”.\n\n“The other big theme will be a big cut to dividends,” he said. \n\nImage: Getty Ahem. I think you’ll find that’s ‘labour force’ Labor force is something quite different
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