Word: a12
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Dates: during 2000-2009
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...Costello had announced immense tax cuts in the past, such as those worth $A12 billion a year accompanying the introduction of the Goods and Services Tax in July 2000. And there had been modest tax cuts and increased family payments aimed at low earners in recent years. Now it's the turn of the top end-and those who one day aspire to be like them. At the start of the decade, the 47 cent tax rate kicked in at an annual income over $A50,000; from this July, the rate will be 45 cents and the income threshold will...
...great time to be a consumer in Australia: incomes are rising, interest rates are low, and stores are flooded with a vast array of inexpensive products - from $A12 cordless drills to $A90 DVD players - many of them imported from China. China makes half the world's cameras and one-third of all TVs. In 2004, imports from China rose by almost 26% to $A17.9 billion, almost all of it manufactured goods (such as clothing, computers, toys and sporting goods, telecommunications equipment and furniture). Last year, Australia exported to China a mountain of wool and cotton. Ships carrying a tiny fraction...
...GLOBAL ECONOMY A12 TIME's Board of Economists debates whether wild exchange rates and huge deficits could stall the recovery...