Articles on Income tax

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Crash or crash through? Treasurer Josh Frydenberg and Prime Minister Scott Morrison walk to a meeting with the Reserve Bank governor on Wednesday. Joel Carrett/AAP

Frydenberg declares tax package must be passed ‘in its entirety’

In an interview with The Conversation, Frydenberg refused to be drawn on what the government would do if unable to get the whole bill through.
To start with each side offers a “lamington” (Low and Middle Income Tax offset), then the differences get serious. Shutterstock/Grattan Institute

Your income tax questions answered in three easy charts: Labor and Coalition proposals side by side

After some years the Coalition's proposals would cost $40 billion per year more than Labor's, but by then Labor will have probably cut tax further too.
Minister for Finance Mathias Cormann, Prime Minister Malcolm Turnbull and Treasurer Scott Morrison announce the passage of their income tax package. AAP/Mick Tsikas

VIDEO: Michelle Grattan on the federal government’s tax package, the ABC and the ‘Super Saturday’ byelections

It was a busy week in politics, with the federal government passing its income tax package, more squabbling over the ABC, and all parties gearing up for the July 28 byelections.
Mathias Cormann won Senate support for a motion for the bill when it is returned on Thursday to be voted on without further debate. Mick Tsikas/AAP

Government set to call Senate’s bluff on income tax bill

The Senate on Thursday is set to pass intact the government's $144 billion three-stage income tax package - but whether the plan is fully delivered will depend on who wins the election.
Forecasting income tax a decade into the future is a tricky proposition. AAP Image/Joel Carrett

The Coalition’s income tax cuts will help the rich more, but in a decade everyone pays more anyway

The income tax cuts in the 2018 federal budget are likely to be modestly regressive, giving high earners a lower share of the overall tax burden. But by 2028 income tax will be higher across the board.
Richard Di Natale said that Australia had a “tax avoidance system” rather than a “tax system”. Erik Anderson/AAP

Greens urge Buffett rule to get more tax from high income earners

The Greens plan would bring in "a Buffett rule" to ensure higher income earners paid their fair share of tax by limiting deductions made by those earning more than $300,000.

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