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Showing 1 - 10 of 120 results for "Tax System"

Treasury releases draft legislation for new $3m super tax

ELIZA BAVIN  |  TUESDAY, 19 MAR 2024
... Australian taxation system. A policy that is counter to the broader policies and operation of the Australian income tax system."

Stage 3 tax cuts pass Senate

JAMIE WILLIAMSON  |  WEDNESDAY, 28 FEB 2024
... about $1504, the government said. Previously, they would have saved around $700. "The changes to the personal income tax system will have a net cost of $1.3 billion over the forward estimates. The total impact of these tax cuts is expected to be $107 ...

Treasury consults on PwC-linked reforms

CASSANDRA BALDINI  |  WEDNESDAY, 20 SEP 2023
... its draft legislation and is seeking feedback on its proposed reforms, which aim to strengthen the integrity of the tax system and regulators' powers in response to the recent PwC scandal. The new legislation outlines changes to tax promoter penalties ...

Government cracks down following PwC scandal

CASSANDRA BALDINI  |  TUESDAY, 8 AUG 2023
... million to over $780 million. In a statement, government said the new package looks to bolster the integrity of the tax system, further empower regulators, and strengthen current frameworks so they are fit for purpose. "We're cracking down on misconduct ...

Government cracks the whip on multinationals

ANDREW MCKEAN  |  MONDAY, 26 JUN 2023
... multiple rounds of public consultation, that endeavour to strike a balance between the integrity of Australia's tax system and supporting genuine commercial activity while being mindful of compliance costs. Leigh assured that the Treasury will continue ...

Top 10% pocket 93% of Australia's wealth: Research

CHLOE WALKER  |  WEDNESDAY, 12 APR 2023
... the report, this "inequality on steroids" is due to stagnating wages, insecure work, soaring profits and an unfair tax system. "From the 1950s to the 1980s, Australia was considered the land of the fair go and we saw people benefiting more equally from ...

Mercer proposes superannuation tax overhaul

ANDREW MCKEAN  |  MONDAY, 6 FEB 2023
Mercer has called for a fairer superannuation tax system, particularly for lower-income earners and women in its pre-budget submission. Mercer's proposed changes aim to improve the fairness of the super tax system, which currently has an inherent bias ...

Budget deficit pressured by debt costs

ANDREW MCKEAN  |  WEDNESDAY, 26 OCT 2022
... focusing new spending on investments and reform that expands the productive capacity of the economy; and delivering a tax system that funds government services more fairly, and more sustainably. Responding to the Budget measures, abrdn chief economist ...

Government strengthens multinationals tax laws

CASSANDRA BALDINI  |  MONDAY, 8 AUG 2022
... in high taxation jurisdictions altogether," it said. "Transparency is a key factor underpinning the integrity of the tax system. It can help to deter MNEs from entering arrangements to minimise their tax paid and helps to build community confidence that ...

Government vows support for SMEs, self-funded retirees

JAMIE WILLIAMSON  |  THURSDAY, 24 MAR 2022
... returns," Frydenberg said. There are just under one million trusts and around 1.8 million beneficiaries in the Australian tax system, the Treasurer said, and this will enable digital lodgment for up to 30,000 trusts currently lodge by paper. More measures ...
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