James Fernyhough
Optus has reporteda 20 per cent fall in net profit for the first half of the financial year, blaming lower NBN migration charges and workforce restructuring costs.
In the six months endedSeptember, Optus reported a net profit of $259 million, down from $325 million in the previous corresponding period.
The fall for the September quarter alone was even more dramatic, with net profit for the three months plunging 36.6 per cent on the 2017 September quarter, to $105 million.
Optus said the reduction in migration charges that is, payments by NBN Co to telcos when new customers migrate onto the NBN were due to thetemporary suspension of the NBN hybrid fibre coaxial (HFC) rol…
Read the full article at: https://www.afr.com/business/telecommunications/optus-sees-profits-plunge-on-nbn-rollout-halt-20181107-h17n80
By Jacky Houlie,JH & Co. Law Office & Shlomo Hubscher, JH Consulting Ltd.
Israel is often referred to as the Startup Nation, with many technology companies being acquired by foreign multinationals. As such, the transfer pricing aspects of such exits and other restructurings, including implementation thereof, has become very much on the radar of the Israeli tax authorities.
To address this matter, the Israeli tax authorities on November 1 published new guidance, Circular 15/2018,Business Restructuring within a Multinational Group, clarifying the governments stance on the tax and transfer pricing aspects of such changes in business models.
In Circular 15/2018, the Israeli tax authorities outline techniques for identification and characteri…
Read the full article at: https://mnetax.com/new-israeli-transfer-pricing-guidance-addresses-business-restructuring-31008
Imperial Pacific, the contentious company that hopes to one day, maybe, possibly, complete the Imperial Palace integrated resort (IR) in 
Saipan, wants $38.3 million. In a filing with the Hong Kong Stock Exchange this past Monday, the company has announced that it will launch a bond placement to raise the funds, with the money, minus commissions and other expenses, being used for general corporate purposes.
The bond placement will be managed by Run Investment Services, Ltd., who has sole discretion over the project. The company expects the bond to be placed to not less than six independent third parties.
The bond would probably not have been necessary of the company held its patrons accountable for their gambling habits or if Imperial Pacif…
Read the full article at: https://calvinayre.com/2018/11/07/casino/imperial-pacific-wants-38-million-bond-placement/
Sound Q3 Results
Pentair delivered third-quarter 2018 adjusted earnings of 54 cents per share, up around 10% from the year-ago quarters tally. Further, the figure beat managements previous guidance and the Zacks Consensus Estimate of 52 cents.
Upbeat Fiscal 2018 Guidance
Pentair revised 2018 adjusted earnings per share guidance to around $2.33 from the previous expectation of roughly $2.31 driven by improved operating performance in the …
Read the full article at: https://www.zacks.com/stock/news/335876/pentair-bets-on-new-products-business-restructuring-efforts
- This April, a San Francisco-based startup called Goodly launched as a part of Y Combinators summer batch.
- Goodly aims to help companies help their employees pay off their student loans, by making regular matching contributions kind of like a 401(k).
- Greg Poulin, co-founder and CEO, was motivated to start Goodly because of his own experiences in paying off $US80,000 in student debt.
- Poulin believes that the budget for common company perks such as gym memberships and massage chairs can be better used for helping employees pay off student loans.
While Greg Poulin, co-founder and CEO of Goodly, was attending Dartmouth, his father passed away unexpectedly. On top of the emotional toll, h…
Read the full article at: https://www.businessinsider.com/goodly-a-y-combinator-startup-wants-to-help-employees-repay-student-debt-2018-11
The Labour Party will seek to deter company directors from committing serious tax offences if elected.
The Labor Party has promised to “name and shame” dodgy company directors that engage in illegal phoenixing activities if it wins the federal election next year.
Under the proposed new policies, Labor would give the Commissioner of Taxation the power to name individuals and entities as a penalty to deter directors from committing serious tax offences.
Phoenixing occurs when a company enters liquidation to avoid its liabilities or debts, only to return as a different trading entity with a similar business.P…
Read the full article at: https://www.bit.com.au/news/labor-promises-tougher-penalties-for-phoenix-activities-515241
- This April, a San Francisco-based startup called Goodly launched as a part of Y Combinators summer batch.
- Goodly aims to help companies help their employees pay off their student loans, by making regular matching contributions kind of like a 401(k).
- Greg Poulin, co-founder and CEO, was motivated to start Goodly because of his own experiences in paying off $US80,000 in student debt.
- Poulin believes that the budget for common company perks such as gym memberships and massage chairs can be better used for helping employees pay off student loans.
While Greg Poulin, co-founder and CEO of Goodly, was attending Dartmouth, his father passed away unexpectedly. On top of the emotional toll, h…
Read the full article at: https://www.businessinsider.com.au/goodly-a-y-combinator-startup-wants-to-help-employees-repay-student-debt-2018-11
A LIQUIDATOR has been appointed to a Gladstone building business that has offices across the state.
The Australian Securities and Investments Commission website states Irwin Homes Pty Ltd went into liquidation as of October 31.
Irwin Homes has a head office in Gladstone and has projects across Queensland, including Rockhampton, Sunshine Coast, Gold Coast and Toowoomba.
Artemis Insolvency director Peter Dinoris was appointed liquidator of the company.
Mr Dinoris said he was “investigating the asset and liability position of the company” and would report the results of the investigations to unsecured creditors.
He said investigations were continuing into debts owed to creditors.
“Trading operations have ceased,” Mr Din…
Read the full article at: https://www.gladstoneobserver.com.au/news/investigation-into-sudden-collapse-of-gladstone-bu/3569693/
The Labor Party has promised to “name and shame” dodgy company directors that engage in illegal phoenixing activities if it wins the federal election next year.
Under the proposed new policies, Labor would give the Commissioner of Taxation the power to name individuals and entities as a penalty to deter directors from committing serious tax offences.
Phoenixing occurs when a company enters liquidation to avoid its liabilities or debts, only to return as a different trading entity with a similar business. PwC released a report in July that estimated up to $5.13 billion was lost each year to illegal phoenixing activity.
Labor would also allow the commissioner to apply to the Australian Securities and Investment Commis…
Read the full article at: https://www.crn.com.au/news/labor-wants-to-name-and-shame-illegal-phoenixes-515211
Home interior and decor chains Bowring and Bombay have declared insolvency.
According to documents, Bowring Canada and Bombay & Co., Inc., along with parent company Fluid Brands Inc., have obtained protection from creditors under the Bankruptcy and Insolvency Act.
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