The tax cuts only look big when compared to no cuts, an alternative that isn’t realistic.
Compared with other OECD nations, Australians pay much less tax than some headline statistics suggest.
July 19, 2020
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.
The COVID-19 pandemic has hit the production side of the economy, So how will tax cuts for those on high incomes help?
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.
If you’re going to stimulate the economy, it’s wise not to wait.
A bold government would have delivered stages one, two and three of the tax cuts at once. Boldness is what we need.
The National Centre for Social and Economic Modelling has calculated the impact of the 2019 federal budget’s tax and welfare transfer changes.
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.
Ah, yes. Once again, it’s tax season. If you decide to outsource filling out your returns to someone else, be sure to ask the right questions to get the best service.
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.
Timing tricks help politicians avoid dealing with the substance of their policies. That isn’t going to change any time soon.
It seems that timing tricks are now a thing in Australian politics. Revenues are brought forward and spending pushed back for cosmetic effect.
Treasurer Scott Morrison played it safe with the 2018-19 budget.
Even though this year’s budget is pretty good politics and reasonable economics, on almost every front, it is a missed opportunity to be bold.
Filling out tax forms used to be an exercise in legalese torture for Canadian taxpayers. Canada has come a long way, but can still to more to simplify filing taxes.
THE CANADIAN PRESS/Chris Young
In the 1950s, Canada made it easy for employees to file their income tax. Now let’s simplify the process for others, too.
Australian Chamber of Commerce and Industry chief executive James Pearson, speaking on Q&A.
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?
Finance Minister Bill Morneau is not the first Canadian politician to hold the job who’s been confronted with outrage over tax reform proposals. But it’s time to listen to people who get riled up about tax increases.
THE CANADIAN PRESS/Andrew Vaughan
Outrage over tax reform is nothing new. But if we can’t be calm about tax, we can at least learn from the stories spoken in anger.
Treasury Secretary Steven Mnuchin offers details of his boss’ proposed tax cut. ‘It’s big.’
Carolyn Kaster/AP Photo
The bar for achieving that lofty goal was set almost 150 years ago when Congress cut taxes from as high as 10 percent to zero over two years.
No one likes taxes.
John Bazemore/AP Photo
As tax day approaches, here’s a primer on how your dollars help fund the U.S. government, and how your share has probably increased.
In an attempt to plug a growing deficit, South Africa is increasing wealth taxes.
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.