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Showing 11 - 20 of 293 results for "Taxpayers"

Liquidate $250bn Future Fund, says think tank

CASSANDRA BALDINI  |  THURSDAY, 10 AUG 2023
... from the Commonwealth budget," Burshtein said. "This imposed the cost of financing liabilities accrued in the past onto taxpayers of the day." Future Fund's initial funding came from both the surplus of the Commonwealth's 2006-2007 budget and ...

High super balance tax needs work: Podcast

CASSANDRA BALDINI  |  THURSDAY, 11 MAY 2023
... Earlier in the year Financial Services Council (FSC) analysis of ATO data found a significant portion of Australian taxpayers will breach the cap in their lifetime. It found some 500,000 individuals currently saving for retirement or already retired ...

Budget of missed opportunities: Industry

CASSANDRA BALDINI  |  WEDNESDAY, 10 MAY 2023
... unprecedented cost of living increases," said SMSFA chief executive Peter Burgess. "Therefore, it's important the full impact on taxpayers, including small business owners and primary producers, is fully explored." Burgess outlined that the association ...

How this budget was built

ALEX DUNNIN  |  TUESDAY, 9 MAY 2023
... expenditures don't come close to explaining the 23-24 budgetary framework. On tax receipts, yet again it's individual taxpayers doing the heavy lifting. In 2021-22 they accounted for 48% of the total tax take but in 2022-23 this has stepped up ...

NZ Super Fund chief executive resigns

CHLOE WALKER  |  WEDNESDAY, 3 MAY 2023
... chief executive, for whom the long-term goal of the NZ Super Fund, to smooth the cost of superannuation between today's taxpayers and future generations, has always been front of mind," she said. "His legacy will be his commitment to high performance ...

Cut spending and raise taxes, super preservation age: Grattan

JAMIE WILLIAMSON  |  WEDNESDAY, 12 APR 2023
... households - provided their wealth is largely in the family home - can continue to qualify for the pension. This means taxpayers end up underwriting future inheritances," the report reads. "Under this change, older Australians who are asset-rich, but ...

Grattan finds $14bn savings in super tax break overhaul

KARREN VERGARA  |  MONDAY, 3 APR 2023
... $20,000 per year is one recommendation that would result in a saving of $1.6 billion annually and affect 1.3 million taxpayers. Raising Division 293 tax from 30% to 35% and lowering the income threshold from $250,000 to $220,000 per annum would restrict ...

Super reform "takes away the right to be tax exempt"

ANDREW MCKEAN  |  TUESDAY, 28 MAR 2023
... shares similar apprehensions. She pointed out that the proposed tax's inclusion of unrealised capital gains may cause taxpayers to pay tax on the growth of their fund's assets before they are sold, deviating from standard taxation practices. ...

HSBC bails out Silicon Valley Bank UK

CASSANDRA BALDINI  |  TUESDAY, 14 MAR 2023
... population that its banking system is "safe" yesterday at a White House press conference. "No losses will be borne by the taxpayers. Instead, the money will come from the fees that banks pay into the Deposit Insurance Fund," Biden said. "Because of the ...

US agencies act to prevent crisis

JAMIE WILLIAMSON  |  MONDAY, 13 MAR 2023
... depositors in Silicon Valley Bank and Signature Bank will be made whole and that the cost of doing so won't be borne by taxpayers. The Fed has created the Bank Term Funding Program (BTFP), offering loans of up to one year to depository institutions ...