๐๐๐๐๐ฟ๐ฎ๐น๐ถ๐ฎ๐ป ๐๐บ๐ฎ๐น๐น ๐ฏ๐๐๐ถ๐ป๐ฒ๐๐, ๐ท๐ผ๐ฏ๐, ๐ถ๐ป๐ฑ๐ฒ๐ฝ๐ฒ๐ป๐ฑ๐ฒ๐ป๐ฐ๐ฒ ๐ฎ๐ป๐ฑ ๐ฒ๐ฐ๐ผ๐ป๐ผ๐บ๐ถ๐ฐ ๐๐ฒ๐ฐ๐๐ฟ๐ถ๐๐ ๐๐ข๐๐ก๐, ๐๐ข๐๐ก๐ .... ๐๐ข๐ก๐ The report follows the government announcing it was walking away from a pledge to impose tougher tax anti-avoidance rules on multinationals that shift billions of dollars of profits between Australia and their foreign entities. The retreat was criticised by the head of the Australian Tax Office, Chris Jordan. Some foreign retailers, such as Ikea and Apple, have been criticised for paying small amounts of tax in Australia relative to their sales revenue. German discount retailer Aldi โ named in this report as the worlds eighth biggest retailer, with $US81 billion group revenue in 2013 โ does not file financial accounts for its Australian operations. The report states: What should be of concern to Australian retailers is that 85 per cent of the Top 250 retailers currently arent operating in Australia, meaning that competition is only likely to increase. Also its important to note that there are only eight Chinese companies in the Top 250, none of which are currently operating in Australia. With the growth in the middle classes in China and a rapidly growing domestic retail market, its only a matter of time before we see more Chinese retailers appear in the Top 250โand, of course, their entrance into the Australian market. The report presents a cautious forecast for Australia retail sales, in the face of weak national income growth, stretched asset prices, low interest rates, a federal government looking for budget savings, and a global economy struggling to find momentum. Overall, the healthy retail environment may extend into 2015 but then gradually fade. Too much support at the moment is coming via low interest rates, and that support will dissipate over time, although labour income growth should improve over time. The report comes amid expectations the festive season will prove a positive one for retailers, spurred by discounting just before Christmas. Recent official figures showed retail sales grew by 4.1 per cent in November, and Citi analyst Craig Woolford said he remained positive on retail spending this year, particularly for food and recreation, due to lower petrol prices putting an extra $6 billion in the pockets of households. Broker Ord Minnett, however, said the outlook remained mixed for discretionary retailers, which were found by the Productivity Commission to have lower-than-average margins of 4.8 per cent. Across the income spectrum, we expect the more affluent to benefit from housing and equity wealth factors, while the less affluent are likely to be more negatively impacted by rising unemployment. Read more: smh.au/business/retail/more-international-retailers-takeover-offers-on-way-report-20150112-12mm3a.html#ixzz3OeLucusw
Posted on: Mon, 12 Jan 2015 22:46:33 +0000
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