2011 Australian cotton comparative analysis

24 May 2012

The 2011 Australian Cotton Comparative Analysis (ACCA) reveals that 2011 was a record year in terms of planting, bale production and price. 

The average price of $526 per bale was the highest since 2004; yield continued to climb and the net profit per hectare was the highest recorded in the history of this analysis.

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Payroll tax rebate scheme

23 May 2012

Employers may be eligible to receive a $4,000 payroll tax rebate under the NSW Government’s Jobs Action Plan. The scheme aims to support 100,000 new jobs in NSW with 40% of these jobs earmarked for regional areas. New State Premier, Barry O'Farrell, has indicated his Government's continued commitment to this program.

Employers in both regional and metropolitan areas may be eligible for the rebate for each additional full-time employee who commences employment between 1 July 2011 and 30 June 2013, with pro-rata provisions for part-time employees. The rebate applies to the first 100,000 jobs 
created on or after 1 July 2011. 

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Private health insurance rebate changes

23 May 2012

The Gillard Government’s ‘Fairer Private Health Insurance Incentives Bill 2012’ has passed through Parliament and will come into effect from 1 July 2012. The passage of the legislation means that the Government rebate on private health insurance will become income-tested. 

Currently a 30% rebate applies for singles, couples or families where the oldest person on the policy is aged up to 65 years. The rebate increases to 35% if the oldest person on the policy is aged 65 to 70 years, rising to 40% if 70 years or older. 

Under the new legislation, nothing will change for singles earning less than $84,001 per annum, or for couples or families earning less than $168,001 per annum in 2012-13. 

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