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Showing 11 - 20 of 112 results for "personal income"

Stage 3 tax cuts pass Senate

JAMIE WILLIAMSON  |  WEDNESDAY, 28 FEB 2024
... tax cut of 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 ...

Treasury details winners from tax concessions on super contributions

ANDREW MCKEAN  |  THURSDAY, 1 FEB 2024
... evidenced in the concessional taxation of superannuation earnings, where individuals with larger balances and higher personal income tax rates enjoyed disproportionate benefits. This was most evident among men and older Australians, notably those aged ...

Curbing super tax breaks for the wealthy: Consultation opens

ANDREW MCKEAN  |  MONDAY, 3 APR 2023
... their super funds, even selecting a specific fund if they hold multiple accounts. This tax remains separate from personal income tax, like the existing Division 293 tax. Should the proposed increase in the concessional tax rate be implemented as planned ...

Stop penalising women: HESTA

CASSANDRA BALDINI  |  WEDNESDAY, 1 FEB 2023
... amount of superannuation balances to $5 million, where investment earnings exceeding this cap are taxed at the top personal income rate.

Piecemeal super taxes won't fix budget deficit: FSC

ANDREW MCKEAN  |  FRIDAY, 14 OCT 2022
... linked to income. Employer super contributions would be treated as individual income that's taxed at marginal personal income tax rates less a flat-rate refundable 20% tax offset. This modelled outcome is expected to cost approximately $2.25 billion ...

US enters recession - or does it?

ANDREW MCKEAN  |  FRIDAY, 29 JUL 2022
... spending, and non-residential fixed investment," the Bureau of Economic Analysis said. Meanwhile, real disposable personal income decreased 0.5% in the second quarter, compared with a decrease of 7.8% in the first quarter. While it's universally ...

BT answers advisers' top tax time questions

ANDREW MCKEAN  |  WEDNESDAY, 1 JUN 2022
... strategy are in a relationship where one person is in a high-income bracket and the other person has a lower level of personal income," Howard explained. The person with the higher income is generally better off maximising their personal contributions ...

Advisers can help female clients 'break the bias'

CHLOE WALKER  |  TUESDAY, 8 MAR 2022
... circumstances. "When asked to define financial independence, the most common answer given by women is having a personal income so you don't have to rely on financial support from others," Fidelity business manager QLD Lauren Jackson said. "But fewer ...

Women's life choices constrained by money stress: Fidelity

ELIZABETH MCARTHUR  |  THURSDAY, 3 MAR 2022
... financial situation. When asked to define financial independence, the most common answer given by women is having a personal income, so you don't have to rely on financial support from others. But only 49% said they feel financially independent ...

Recovery set to slow: OECD

ANNABELLE DICKSON  |  THURSDAY, 16 SEP 2021
... consider increasing the Goods and Services Tax (GST) rate or broaden the base to offset regressive effects through personal income tax cuts, reducing private pension tax breaks and reducing the capital gains tax discount. Treasurer Josh Frydenberg said ...