ATO chases millionaire Sir Yii Ann Hii over tax debt

THE Australian Taxation Office has been thwarted in its bid to claw back a tax debt owed by former high flying Brisbane businessman Sir Yii Ann Hii. In the past year, the amount owed by Sir Yii has ballooned from $64 million to $69 million, with interest currently accruing at $13,157 a day. Fiona Biltris,…

FIRB approve Dampier-Bunbury gas pipeline $7.3b sale to Chinese

The Dampier-to-Bunbury gas pipeline is set to fall into Chinese foreign hands after Australia’s Foreign Investment Review Board approved the $7.3 billion purchase of its owner, DUET Group. A consortium led by Chinese billionaire Li Ka-shing’s Cheung Kong Infrastructure will secure control of the critical piece of the State’s energy infrastructure, which supplies domestic gas…

Adani mine granted unlimited water access 

The proposed Adani coal mine has been granted unlimited access to groundwater by the Queensland government in a move farmers fear would allow it to drain huge amounts of water from the Great Artesian Basin. According to a copy of Adani’s water licence obtained by Fairfax Media, the $16 billion Carmichael mine merely needs to…

Beijing sends  blunt warning to Chinese Australians

“Unfortunately a signal of intimidation has been sent to Chinese Australians not to criticise Communist party interference in Australian domestic affairs,” the head of the National Security College at the Australian National University (ANU), Rory Medcalf, says. Dr Feng was finally allowed to leave Guangzho, China on Saturday, a month after arriving in China where…

Govt to encourage elderly to downsize homes

The federal government is reportedly planning to encourage older Australians to downsize to smaller homes to help tackle the housing affordability crisis. News Corp reports the government would introduce new incentives as well as more lenient rules to the Age Pension asset test and the caps on superannuation. It’s believed the changes would free up…

China reports more severe form of bird flu

China is working to assess the prevalence of a new strain of H7N9 bird flu, state radio reported, after global health authorities said the strain had evolved into a more severe form in birds. So far the variant strain has only been detected in Guangdong province, but given the wide circulation of livestock and poultry…

Chinese investors cast their eyes over to western Sydney

Chinese property investors are eyeing fringe areas beyond their comfort zone in Sydney’s south-west, recent data revealed. Edmondson Park topped the state as the most popular suburb for developments among Chinese buyers, followed by Potts Point and Chatswood, according to statistics from REA Group, which runs realestate.com.au and the Chinese version myfun.com. The western Sydney…

Horse, possum and donkey meat could be on the menu 

HORSE, donkey and possum meat could be on the dining menu for the first time as SA Health explores adding the animals to a legal consumption list. The proposed culinary changes have been condemned by animal groups. The State Government is opening consultation on a revised Food Standard Code definition of game meat allowing buffalo,…

Your next Ford will be built at $6 an hour 

Meet the factory workers in Thailand that will take our jobs once Australia’s car manufacturing industry closes The Thailand workers will be making your next Ford when the Broadmeadows assembly line falls silent forever this Friday — ending 91 years of car making in Australia for the US giant. While the minimum wage in Thailand…

Charles Lui China’s rainmaker ‘fed up’ with Australia

Charles Liu, one of China’s “rainmakers” who played a significant role in putting together the $371 million S. Kidman & Co rural property bid ­vetoed by Treasurer Scott Morrison, says he is fed up with Australia, despite 20 years of doing business there. He believes Australia is heading down the same populist ­­de-globalisation, protectionist route…

Port of Melbourne sold for $9.7 billion 

The Port of Melbourne has been sold for $9.7 billion, which is well over the expected price, in a 50-year lease to the Lonsdale consortium, the Victorian Government has announced. The consortium includes the Queensland Investment Corporation, the Future Fund, and Global Infrastructure Partners. Legislation to lease the port passed the State Parliament in March,…