The Victorian government has decided to reduce payroll tax by 0.05%, from 4.9% to 4.85%. The decision comes as the Commonwealth government contemplates an increase in income tax via a deficit levy. But…
Tony Abbott is preparing the electorate for his government’s first budget.
Julian Smith/AAP
The prospect of a “debt” tax or some sort of “deficit levy” to assist with the budget bottom line should prompt a clearer debate about the virtues of raising taxes versus cutting expenditure as a means…
From July, the ATO will be able to levy new fines on self-managed superannuation fund trustees.
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Self-Managed Superannuation Funds (SMSFs) are the fastest growing sector of the superannuation industry, spiking by 33% between 2008 and 2012, putting them in the sights of both the super industry and…
With eight months left on his contract, Treasury Secretary Martin Parkinson decided to jump into the GST debate on Wednesday night. In a speech to the Sydney Institute, Parkinson declared the federal budget…
Banks are asking former CBA chief David Murray, now heading the Financial Systems Inquiry, to consider tax breaks on interest income.
AAP/Dean Lewins
Australia’s big banks want the government to give their customers tax breaks on interest income, having told the Financial Systems Inquiry it would encourage more savings. In turn, the banks will have…
Quarantining losses is used across much of our public finance system. Negative gearing is an exception.
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Abolishing the sacred cow of negative gearing - where losses can be used as a deduction against other income - is considered by governments of all persuasions as electorally unpalatable. But this part…
The Commission of Audit may miss the true picture if it looks only at cutting costs.
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In the lead-up to a crucial federal budget in May, it could be argued that requiring the Commission of Audit to identify revenue trends that could pose a risk to the budget’s structural integrity could…
Australia is pushing for hard growth targets at this weekend’s G20 Finance Ministers meeting, but taxation is the elephant in the room.
Dan Himbrechts/AAP
Australia should cut company taxes and increase innovation to avoid falling behind in the productivity race, according to a new report from the Organisation for Economic Co-operation and Development. The…
Treasurer Joe Hockey said G20 finance ministers gathering this weekend should help fix an outdated international taxation system.
AAP/Daniel Munoz
Treasurer Joe Hockey today urged G20 finance ministers to focus on ending gaps between Australian and overseas taxation arrangements that are eroding the tax base. He told an Institute of International…
Under the current tax regime, investors and cashed up owner occupiers are bidding up the cost of housing.
Dean Lewins/AAP
In an ideal (and economically efficient) world, tax policy would not influence the investment or consumption choices taxpayers make. In reality, this neutrality is rarely achieved. External factors influence…
An independent tax board might have taken some of the politics out of the Rudd government’s mining tax plan.
Josh Jerga/AAP
The federal government’s Commission of Audit - tasked with finding efficiency and productivity improvements to deliver a surplus of 1% of GDP prior to 2023-24 - remains overshadowed by the many reviews…
Profit shifting by multinationals will be a key focus of the G20 under Australia’s presidency this year.
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Australia has officially commenced its presidency of the G20 and preparations are underway for the November 2014 Summit, when the leaders of the world’s biggest economies will meet in Brisbane. The G20…
Tax evasion campaigns are not new, but with them often comes an amnesty designed to maximise government revenue.
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The Australian Taxation Office continues its campaign to track down the offshore bank accounts of wealthy Australians, amid a global effort to improve tax transparency. One option the ATO has in its kit…
Treasurer Joe Hockey admits the government’s ‘open for business’ promise must be followed up with action.
Alan Porritt/AAP
From a three-and-a-half year high last month, business confidence data for October shows the post-election honeymoon is over, with business conditions continuing to underperform in non-mining sectors…
Gloomy times for BB&T bank, as it misses out on $660m in tax credits.
zen Sutherland
What are the chances that in the face of public criticisms, big business would curb its tax avoidance practices? Well, not much, as evidenced by a case decided by the US Court of Federal Claims. Salem…
Britain is still a majority social-democratic country. That is, politically, the most significant finding of the latest British Social Attitudes survey published this week. Most people want a country which…
Tax loopholes have cost Tanzania billions.
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The G20 has been dominated by Syria, tax reform, and playground infighting among world leaders. But where is the talk of ending hunger, eradicating diseases or cancelling debts? Back in 2005, as the G8…
The Rudd government’s changes to fringe benefit tax concessions on cars is good environmental policy, but bad news for the manufacturing sector.
AAP
The decision to terminate the statutory formula method under the fringe benefits tax regime will have significant ramifications on the car industry, the local car manufacturing industry and employment…
Tax protests outside a Starbucks in London. But do people really care enough to make a difference?
Steve Parsons/PA
The tax arrangements of major brands such as Google, Apple and Amazon have prompted a fierce debate over questions of organisational ethics, social justice and international co-operation. But as a consumer…
Lame duck, dying swan - headline writers have had fun with the treasurer’s sixth budget, but the fact is this budget will be remembered for its fiscal irresponsibility.
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It has been pretty difficult to get too excited about the latest budget – it is a lame Swan effort from a dying government. It will mostly be remembered as a monument to fiscal irresponsibility. The budget…