We encourage you to visit the following websites now and again to enhance your understanding of your financial life.
The Australian Taxation Office website offers information and assistance on all areas of taxation for the individual, business and tax and superannuation professional. It includes information on tax reform, superannuation, TaxPack, eTax, rebates, excise and has an extensive legal database with legal and policy material to aid interpretation of taxation law.
The Australian Securities and Investments Commission enforces and regulates company and financial services laws to protect consumers, investors and creditors.
Also check the FIDO website. This website lists a number of financial tips and safety checks from ASIC.
The Australian Securities Exchange (ASX) is the primary stock exchange in Australia. The biggest stocks traded on the ASX, in terms of their market capitalization, include BHP Billiton, Commonwealth Bank of Australia, Telstra Corporation, National Australia Bank and Australia and New Zealand Banking Group. As at 31-Dec-2006 the three largest sectors by market cap were financial services (34%), commodities (20%) and listed property trusts (10%).
The major market index is the S&P/ASX 200, an index made up of the top 200 shares in the ASX. This supplanted the previously significant All Ordinaries index, which still runs parallel to the S&P ASX 200. Both are commonly quoted together. Other indices for the bigger stocks are the S&P/ASX 100 and S&P/ASX 50.
While the ASX regulates other listed companies listed on the ASX, it cannot regulate itself, and is regulated by the Australian Securities and Investments Commission (ASIC).