This Month
Ease income tax burden automatically, says Westpac’s Ellis
Tax brackets should be adjusted annually to help limit the squeeze on household incomes, former RBA assistant governor Luci Ellis says.
- John Kehoe
Stage three tax cuts will help make ends meet: Chalmers
Jim Chalmers says the stage three tax cuts will help with the cost of living as well as pare back bracket creep.
- Updated
- Phillip Coorey
Feel like you’re paying more tax than ever? These four charts prove it
Australian adults forked out an extra $1900 in income tax over the past 12 months, as bracket creep fuels the fastest growth in taxes in two decades.
- Updated
- Michael Read
Chalmers to slug late taxpayers, passport applicants
Businesses and workers who do not pay their tax on time will no longer be able to deduct the late fee, in a move expected to raise $500 million per year.
- Michael Read
Income slump forces households to eat into $237b stimulus buffer
High inflation, rapidly rising interest rates and a record federal government tax take have driven disposable incomes to December 2015 levels.
- Michael Read
November
- Exclusive
- Federal budget
States demand at least $5b in return for NDIS help
The states want annual GST top-up payments made permanent, in return for taking pressure off the federal National Disability Insurance Scheme, where costs are $42 billion a year and rising rapidly.
- Phillip Coorey
- Exclusive
- Mergers & acquisitions
Two Australian fintech deals close as acquisition season kicks off
A Brisbane digital lender has bought out one of its rivals, while TaxLeopard has acquired a firm that provides software to help Uber drivers do their accounting.
- Paul Smith
How expats can avoid an eye-watering 72pc super tax
Making the wrong decisions repatriating savings can ruin your retirement. Experts explain how to get it right.
- Duncan Hughes
Property renovators could be taxed up to 47pc under new rules
A tribunal decision that a transaction was commercial opens the gates to deals losing CGT discounts and some main residence strategies attracting the top rate.
- Updated
- Duncan Hughes
October
Tax burden on young ‘not defensible or sustainable’
Incoming chairwoman of the Productivity Commission Danielle Wood says the tax on employment income will penalise younger generations unless the federal government takes the lead on reform.
- John Kehoe
- Exclusive
- Australian economy
Regulation leaves Australia trailing Singapore as investment hub
The Financial Services Council said Australia can rival Singapore as a destination for offshore capital if rules around new fund structures are improved.
- Tom Richardson
Relying on bank statements for tax deductions? Think again
A Brisbane businessman learnt the hard way that bank and credit card statements are not sufficient records to prove $48,000 in tax deductions.
- Ronald Mizen
- Opinion
- Steven Kennedy
Why retirees have to pay their fair share of tax
‘I worked hard and paid all my taxes’ does not pass the pub test when tax-free retirements now last so long.
- John Kehoe
‘Everything should be on the table’ to ease tax burden on young
The BCA, CTA, Allegra Spender and Grattan have urged Labor to develop a tax reform agenda to stop younger workers shouldering an ever-increasing tax burden.
- John Kehoe
- Opinion
- Super wars
Why you should worry about new super tax – even with less than $3m
These two worked examples show how the taxing of unrealised capital gains can have unintended consequences.
- Peter Burgess
September
‘Small home’ bonanza as granny flats get green light
Victoria is the latest state to overhaul restrictions on backyard homes that can generate income. But experts warn there are legal, tax and funding challenges.
- Duncan Hughes
‘Double-tax plan’ hurts Australia’s push into Asia
Business leaders say proposed changes would deter Australians from working in Asia, as they risk being taxed twice if they come back for more than 45 days.
- Updated
- Michael Smith
- Exclusive
- Inheritance
‘Political dynamite’: New PC boss says tax inheritances, retiree super
Danielle Wood has proposed an ambitious reform agenda that would push more of the tax burden on to older Australians.
- Updated
- Michael Read
Tax and interest on loans to drain 25pc of Australians’ earnings
Australians will devote almost one in every four dollars of their earnings to paying income tax and interest on loans by the middle of next year.
- Michael Read and Tom McIlroy
Big government is back – how will we pay for it?
Countries are spending heavily on defence, welfare and the green transition. With debt levels already high, taxes look certain to rise.
- Emma Agyemang and Chris Giles
