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Bracket creep hit greatest for middle-income workers: PBO

October 12, 2017

Bracket creep hit greatest for middle-income workers: PBO Adam Creighton, The Australian, 12 October 2017 Middle-income earners will bear the brunt of bracket creep over the next four years, as routine wage increases push 1.8 million taxpayers into higher tax brackets, according to Parliamentary Budget Office analysis that finds returning the budget to surplus

We need a GST-style consumption tax for carbon emissions

October 11, 2017

We need a GST-style consumption tax for carbon emissions Alan Mitchell, The Australian Financial Review, 11 October 2017 Tony Abbott is stirring the political pot, but he is not the fundamental cause of the Turnbull government's climate and energy policy problem. The real problem dogging the Prime Minister and the glittering cast of energy sector

Income tax key driver towards surplus: PBO

October 11, 2017

Income tax key driver towards surplus: PBO Colin Brinsden, The Australian, 11 October 2017 The federal government's promise to bring the budget back to surplus is predominantly on the back of an increase in personal income tax revenue, a new analysis has found. The independent Parliamentary Budget Office found the average tax rate faced by

ATO’s tax gap figures revealed: $2.5 billion missing from corporates, multinationals

October 11, 2017

ATO's tax gap figures revealed: $2.5 billion missing from corporates, multinationals Nassim Khadem, The Sydney Morning Herald, 11 October 2017 An estimated $3.5 billion in revenue from large corporates and multinationals is at risk to the economy, but through audit activity this will reduce to $2.5 billion, according to the Australian Taxation Office. On Wednesday the agency

Tax office may soften SMSF rules

October 11, 2017

Tax office may soften SMSF rules James Kirby, The Australian, 11 October 2017 Controversial and laborious event-based reporting rules for Australia’s army of DIY super fund operators may be softened by the tax office in coming weeks. Under current plans the Australian Taxation Office wants all SMSFs (self-managed super funds) to report much more regularly

Middle-income earners’ tax hit to pay for Coalition company cuts

October 11, 2017

Middle-income earners' tax hit to pay for Coalition company cuts Gareth Hutchens, The Guardian, 11 October 2017 The government’s plan to return the budget to surplus is heavily reliant on personal tax increases across every income bracket but hitting middle-income earners hardest, the Parliamentary Budget Office has revealed. Middle income earners (with an average taxable

Jobs, tax and politics: three ways electric vehicles will change our world

October 11, 2017

Jobs, tax and politics: three ways electric vehicles will change our world Hussein Dia, The Conversation, 6 October 2017 China, the world’s largest car market, is working on a timetable to stop the production and sale of vehicles powered by fossil fuels. India has declared its intention to make all new vehicles electric by 2030. Like Britain and France, these two markets are

ATO flags crackdown on firms over GST on internet goods

October 11, 2017

ATO flags crackdown on firms over GST on internet goods Annabel Hepworth, The Australian, 6 October 2017 The Australian Taxation Office is beefing up its data-matching capabilities with the Department of Immigration and Border Protection ahead of the government’s contentious plan to impose GST on internet imports worth less than $1000 from July next

‘The great Australian nightmare’ alive and well in Sydney, Melbourne

October 11, 2017

'The great Australian nightmare' alive and well in Sydney, Melbourne Emily Cadman, The Sydney Morning Herald, 5 October 2017 Home ownership among young Australians has fallen to the lowest level on record, as an explosive property boom squeezes out all but the wealthiest. Supercharged by record low interest rates, a lack of supply and a

‘Ill-considered grab for cash’: Gold miners lash out at WA government’s tax hikes

October 04, 2017

'Ill-considered grab for cash': Gold miners lash out at WA government's tax hikes Nassim Khadem, The Sydney Morning Herald, 4 October 2017 The nation's biggest gold miners have ramped up their campaign against the WA government over its plans for tax hikes claiming it will cost jobs in an environment of low profit margins. But