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Showing 51 - 60 of 328 results for "Taxpayers"

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 ...

Unindexed cap forecast to impact 500k people

CASSANDRA BALDINI  |  FRIDAY, 3 MAR 2023
... have already retired. Financial Services Council (FSC) analysis of ATO data found a significant portion of Australian taxpayers will breach the cap in their lifetime and face a 30% earnings tax. Of those impacted, 204,000 will be under 30, while 135,541 ...

Super on PPL a drop in the ocean

CASSANDRA BALDINI  |  THURSDAY, 2 MAR 2023
... having an argument over whether we should spend an extra $200 million each year on some budget item. On behalf of the taxpayers across Australia, I'm monumentally embarrassed that we're having a fight over something so trivial." Rainmaker data ...

Productivity Commission kicks off philanthropy review

CHLOE WALKER  |  MONDAY, 13 FEB 2023
... communities," he said. However, while deductable donations have increased as a share of total income, the percentage of taxpayers making donations has fallen. The Productivity Commission will consult broadly, including with Commonwealth, state and territory ...

Advisers put on notice: HLB Mann Judd

CASSANDRA BALDINI  |  TUESDAY, 7 FEB 2023
... with building and structuring tax advice overtime." In 2014, the watchdog allowed a "one-off" pardon enabling eligible taxpayers to disclose omitted offshore income, capital gains and over-claimed deductions for reduced penalties as well as protection ...

Federal Budget is challenging: Economist

CHLOE WALKER  |  WEDNESDAY, 26 OCT 2022
... than ever before, Richardson said in response. "There is now a clear set of tradeoffs between disabled Australians and taxpayers," he said. "We need to do the right thing by disabled Australians, and we need to do the right thing by taxpayers. But that ...