Treasurer Jim Chalmers has attempted to downplay the significance of recent Treasury advice advocating for tax increases, which was inadvertently shared with journalists. This advice also indicated that the government’s …
Tax
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- Cost of Living
Why Are There Demands to Increase the GST When Politicians Remain Silent and Economists Push for Reform?
by adminAustralia’s goods and services tax (GST) system, currently set at 10%, is under scrutiny as experts argue that it needs an overhaul to better meet the nation’s fiscal needs. Introduced …
- National
Local family business ‘owed thousands’ by Adelaide couple’s quick-service restaurant franchise
by adminA business co-owned by ex-Adelaide 36ers player Tyson Hoffman and 2024 Miss Universe finalist Jess Davis, Mr Potato, is facing allegations of owing a family-run firm significant money. The Adelaide-based …
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A prominent Australian accounting organisation, CPA Australia, has proposed the possibility of increasing the Goods and Services Tax (GST) as discussions arise around the tax system reform in the country. …
- World
Senate Approves Trump’s Major Tax Reductions and Spending Cuts Bill as Vance Resolves 50-50 Stalemate
by adminSenate Republicans have narrowly passed President Donald Trump’s significant bill concerning tax cuts and spending reductions, overcoming opposition from Democrats and some within their own ranks. The vote, which concluded …
- National
When’s the Ideal Time to Submit Your Tax Return? Three Experts Share the Perfect Timing
by adminThe commencement of a new financial year signifies the onset of Australia’s tax season, inspiring many Australians to anticipate tax refunds. The optimal time to submit your tax return for …
- Finance
Australians Contributed Over a Quarter of a Trillion in Income Tax, Yet Dozens of Millionaires Dodged Paying a Cent
by adminIn the 2022-23 financial year, Australians contributed over $577 billion in taxes, marking a significant increase from the previous year’s $530 billion, as revealed by the Australian Taxation Office (ATO). …
- National
The vital tax time alert that 142,000 individuals overlooked last year, according to the ATO
by adminThe Australian Tax Office (ATO) has issued a cautionary message to taxpayers regarding the timing of filing tax returns. It emphasises that being overly organised can lead to potential errors, …
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The Australian government is set to provide financial relief to students with the introduction of a HECS debt reduction plan, which is anticipated to reduce existing student loans by 20%. …
- National
Nothing Will Slip Through the Cracks: Australian Workers Facing Unexpected Tax Bills This Year
by adminAustralia’s gig economy workers may face unforeseen tax obligations due to new regulatory changes in the reporting of side income. Under the Sharing Economy Reporting Regime (SERR), digital platforms such …
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