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Showing 1 - 10 of 290 results for "Taxpayers"

Taskforce suggests aged care funding be based on personal wealth

JAMIE WILLIAMSON  |  TUESDAY, 12 MAR 2024
... people of the future are typically expected to be wealthier because of the superannuation system, and the number of taxpayers is declining as the population ages. The taskforce said it has made its recommendations with the aim of not creating new or ...

Long-term cost of super early release to be $85bn: SMC

CHLOE WALKER  |  FRIDAY, 1 MAR 2024
Australian taxpayers may face an $85 billion bill due to the COVID-era Early Release of Super scheme, according to a new analysis by the Super Members Council (SMC). Using the Superannuation, Pensions, and other Retirement OUTcomes (SPROUT) model, the ...

Treasury details winners from tax concessions on super contributions

ANDREW MCKEAN  |  THURSDAY, 1 FEB 2024
... revenue forgone due to heightened capital gains realisations between 2021 and 2022. Treasury found that over 1.5 million taxpayers reported capital gains, with more than half enjoying the CGT discount, but the distribution of these benefits was markedly ...

Treasury unveils Stage 3 tax cuts changes

KARREN VERGARA  |  MONDAY, 29 JAN 2024
... the threshold for the 37% tax rate from $120,000 to $135,000 (see Figure 1 and 2). Under the recommended package, all taxpayers are promised a lower tax liability. Source: H&R Block Australia Treasury argued that the changes were necessary as the original ...

Albanese set to overhaul Stage 3 tax cuts

KARREN VERGARA  |  WEDNESDAY, 24 JAN 2024
... 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 will see their promised tax cut reduce while lower-income earners ...

Large Australian corporations pay record tax: ATO

ANDREW MCKEAN  |  THURSDAY, 9 NOV 2023
... Saint explained that tax paid in 2021-22 was the highest since CTT reporting started, showing how Australia's large taxpayers rebounded from COVID-19 and lockdowns. "This is a fantastic result for the Australian community," Saint said. "A combination ...

Super tax break changes open for consultation

KARREN VERGARA  |  TUESDAY, 3 OCT 2023
... analysis by the Financial Services Council of Australian Taxation Office data found a significant portion of Australian taxpayers will breach the cap in their lifetime and 500,000 individuals currently saving for retirement or already retired could be ...

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 ...
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