The Federal Government says it will consider a tax on buying imported goods after retail entrepreneur Gerry Harvey claimed that Australian stores were being “belted” by overseas websites.
Harvey, founder of the Harvey Norman chain, has called for government action, claiming that the high Australian dollar was encouraging consumers to shop overseas rather than in domestic stores.
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Betfair set for the High Court
Online betting exchange Betfair’s two-year legal battle with Racing NSW is set to go to the High Court, with a ruling expected in the next week. Betfair is unhappy that Racing NSW has imposed a turnover-based levy on bookmakers in the state, rather than a profit-based one.
Hogan criminal case dropped
The criminal case against Crocodile Dundee actor Paul Hogan has been dropped. The Australian Crime Commission has said that it will not pursue Hogan, although the Australian Tax Office says that it will still look to speak to the actor over alleged unpaid taxes.
The Australian dollar slipped to 97.22 US cents, while the Dow Jones Industrial average dipped by 149.10 points.