We’re all in this pandemic together. But we’re currently leaving it to a small proportion of the community to shoulder most of the economic pain. It’s an approach that’s compounding social and intergenerational…
A sign in Texas in 1939, at the end of the Great Depression.
(The New York Public Library/Unsplash)
The Canadian federal government’s COVID-19 Economic Response Plan includes tax-related measures. It's helpful to examine tax supports for individuals by considering the past, present and future.
Digital traders will not escape taxation.
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Digital transactions generate massive amounts of revenue and the Kenyan government wants to ensure that online traders pay their fair share of taxes.
The evocative graphic shows the tax rate of high earners falling below that of low earners as 2018 approaches.
The graph says Americans on the highest incomes now face lower tax rates than Americans on low incomes. It's a consequence of an unusual definition of income.
Win-win? No-one would be worse off under the UNSW proposal. Over time it should pay for itself.
High income families could get up to $1,080 per year, others $618, but it could still be worthwhile.
There’s a retro quality to Stage 3 of the Coalition’s tax plan, one the parliament ought to carefully consider before saying yes.
The Stage 3 cuts would make Australia's income tax system the least progressive in 60 years.
Crash or crash through? Treasurer Josh Frydenberg and Prime Minister Scott Morrison walk to a meeting with the Reserve Bank governor on Wednesday.
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.
Still a US citizen and still liable for US taxes.
Yui Mok/PA Wire/PA Images
Taxation is not the only financial burden for overseas Americans.
The wheels of the economy will grind more slowly because of undeclared tax rate hikes in the budget.
The government promised to eliminate the 37% tax rate. Instead, for a certain range of income, it has lifted it to 40%.
To start with each side offers a “lamington” (Low and Middle Income Tax offset), then the differences get serious.
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.
What’s not to like about a flatter tax system? Well, for starters, the one laid out in this budget won’t actually simplify our lives.
Flat tax is simple, Kondo simple. But that doesn't mean it simplifies lives.
The budget tax cuts aren’t tax reform, and probably can’t be paid for over the longer term.
Should the Coalition's $300 billion of tax cuts ever be enacted, they would push the budget back towards deficit.
Much of what’s been promised would have had to happen anyway.
The promised tax cuts will benefit high earners in 2022 and 2024, but by then they'll need it.
So far, Labor is $95 ahead of the Coalition, for many Australians.
The debate about tax cuts has morphed into a debate about annual lump sum payments, and for many Australians, Labor is offering more.
Accountants can help you figure out the difference between avoiding taxes and evading taxes.
It's tax season. That's why Canadians must pay close attention to the possibility of going from the tax avoidance realm into tax evasion when preparing their tax returns or hiring an accountant to do so.
There are words you’ll need to understand. But imputation is complex, like the tax system.
Wes Mountain/The Conversation
If you can understand this, you might just understand the election. Here's our quick guide to the language of dividend imputation.
Scott Morrison as treasurer during the May 2018 budget lockup.
The promised budget surplus depends on everything going right, and much more income tax says the Parliamentary Budget Office.
Minister for Finance Mathias Cormann, Prime Minister Malcolm Turnbull and Treasurer Scott Morrison announce the passage of their income tax package.
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.
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 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.