Unions have called for businesses to be exempt from state payroll taxes ahead of the two-day Tax Forum which starts today.
The Australian Workers Union and the Australian Manufacturing Workers Union are to push for the scrapping of payroll tax to aid the manufacturing sector.
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But treasurer Wayne Swan is expected to dismiss the idea of intervening to remedy state-based taxes, despite the widespread unpopularity of payroll tax among businesses.
ANZ faces class action over fees
ANZ is the subject of Australia’s largest ever class action, with 34,000 customers claiming they have been hit by unfair fees.
Lawyers representing the customers argue that ANZ has levied penalties, rather than service fees, when extending credit or honouring overdrawn accounts.
It’s estimated that the fees run into hundreds of millions of dollars but it will be some time before any compensation claim is made.
Facebook beefs up security
Facebook has attempted to allay concerns over fraud and viruses by partnering with online security firm Websense.
From next week Facebook users will be warned if they are about to be taken to a malicious site. The move is aimed at preventing phishing, where fraudsters extract personal information from internet users.
The Dow Jones index fell 258.08 points, or 2.36% to 10,655.30 points. The Australian dollar slipped to 95.92 US cents.