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Showing 11 - 20 of 286 results for "Income Tax"

Albanese set to overhaul Stage 3 tax cuts

KARREN VERGARA  |  WEDNESDAY, 24 JAN 2024
Prime Minister Anthony Albanese will amend the Stage 3 income tax cuts package, flagging that everyone is set to benefit from the changes. Albanese told radio station 2GB that all taxpayers will receive a tax cut. However, those earning over $180,000 ...

Fee consent forms, FDS overhaul concerns FAAA

KARREN VERGARA  |  MONDAY, 18 DEC 2023
... Office recently clarified rules on deductibility of financial advice fees under new draft determination TD 2023/D4 Income tax: deductions for financial advice fees paid by individuals who are not carrying on a business. The ATO proposed adding the deductibility ...

SMSF Association blasts 'highly questionable' ASFA research

ANDREW MCKEAN  |  MONDAY, 11 DEC 2023
... the number of farming properties that which may be impacted by this proposed law is not valid," Burgess said. "ATO income tax return data has limited application for substantive data analysis due to the way the tax return data is collated and reported. ...

Large Australian corporations pay record tax: ATO

ANDREW MCKEAN  |  THURSDAY, 9 NOV 2023
The Australian Taxation Office (ATO) has disclosed that a record-breaking $83.8 billion was paid in income tax by large corporations for the 2021-22 financial year. According to the ATO's ninth annual Corporate Tax Transparency (CTT) report, the income ...

Investing in research generates threefold economic output

ROSE MARY PETRASS  |  THURSDAY, 7 SEP 2023
... the agencies that administer it)," she said. "However this cost doesn't take into account taxes recovered downstream (income tax from employees, reduction to franking credits, etc.). Further measuring the benefits such as the 'spill-over effect' is difficult ...

Super funds lobby for super tax reform

KARREN VERGARA  |  WEDNESDAY, 16 AUG 2023
... pay. Some 63% of all low-income workers receiving the LISTO are women. The LISTO was originally aligned with the low-income tax bracket at $37,000. This tax bracket has now increased to $45,000, but the LISTO has stayed at $37,000. According to the group ...

KPMG recommends gender-focused super reforms

ANDREW MCKEAN  |  MONDAY, 17 JUL 2023
... paid a much lower rate." KPMG's proposal aligns with its previous 2022 recommendation of introducing a Carer's Income Tax Offset (CARITO). This tax credit, awarded upon re-entry to the workforce, incentivises carers by recognising the value of ...

Consultation opens on NALI reforms

ANDREW MCKEAN  |  TUESDAY, 20 JUN 2023
... Bill 2023 seeks to refine the NALI provisions announced in the 2023-24 Budget. The bill contains amendments to the Income Tax Assessment Act 1997 which limits the application of the non-arm's length expense (NALE) rules to SMSFs and SAFs. Under the current ...

Senate Committee rethinks franking credit changes

ANDREW MCKEAN  |  TUESDAY, 6 JUN 2023
... Bragg said. "Companies will be forced to take on more debt, investors will have fewer franked dividends and corporate income tax collections will be lower." Bragg lambasted the bill for "destroying" the ability of companies to pay franked dividends following ...

NALI measure receives mixed response

JAMIE WILLIAMSON  |  WEDNESDAY, 10 MAY 2023
The federal government provided clarity on the Non-Arm's Length Income (NALI) provisions related to expenditure incurred by superannuation funds - however, the industry says it requires further consideration. In last night's budget, the government ...