The federal government wanted to give taxpayers a couple months to prepare the year’s taxes. But as filing became more complex, the date was pushed back.
Robert Breunig, Crawford School of Public Policy, Australian National University; Kristen Sobeck, Crawford School of Public Policy, Australian National University, and Peter Varela, Crawford School of Public Policy, Australian National University
It would be a mistake to think that just because higher earners face higher tax rates, that’s what they pay. When it comes to income from savings it’s the other way around.
Claiming for working for home is fraught. It’s safest to claim the running expenses the tax office allows. ‘Occupancy expenses’ are harder to justify and could cost you your capital gains tax discount.
The Morrison government’s tax changes will benefit high income earners the most and low income earners the least, says the National Centre for Social and Economic Modelling.
You need to be confident and establish a firm, trusting relationship before entrusting someone to do your taxes. Start as soon as possible. Don’t wait for the April 30 tax deadline.
On Q&A, Australian Chamber of Commerce and Industry chief executive James Pearson said almost 60% of small business owners in Australia are paid $50,000 or less. Is that right?
In his 2017/18 budget speech, South Africa’s finance minister Pravin Gordhan opted to focus on taxing high income earners to find desperately needed money.