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Bigger tax cuts as PM dips into richer coffers

Bigger tax cuts as PM dips into richer coffers

by Shared by The Australian and Accountancy Age | Sep 27, 2018 | News

A generous small business tax package will be launched ahead of next year’s election and is expected to include enhanced ­investment ­allowances and bring forward tax cuts originally intended to have been implemented from 2024 onwards. The government will also enhance...
Tax office amnesty could prove to be a massive scandal

Tax office amnesty could prove to be a massive scandal

by Shared by The Australian and Accountancy Age | Sep 20, 2018 | News

The Australian Taxation Office offered them an unrepeatable deal. Send in a cheque for, on average, around $45,000 and you can bring your $1.1 million home with no penalties, no interest and no back tax.Read the full article at The Australian.
Companies to lose tax deduction rights in cash economy crackdown

Companies to lose tax deduction rights in cash economy crackdown

by Shared by The Australian and Accountancy Age | Sep 18, 2018 | News

The reforms are part of the government’s wide-ranging response to the final report of its Black Economy Taskforce, but the legislation to go before parliament will still allow businesses to claim cash payments as tax deductions where they inadvertently classify a...
Tax office’s Project Do It ‘missed $4.3bn in revenue’

Tax office’s Project Do It ‘missed $4.3bn in revenue’

by Shared by The Australian and Accountancy Age | Sep 14, 2018 | News

A research report prepared by Self Employed Australia says the ATO unveiled Project Do It soon after Switzerland agreed in 2013 to release details of Australians with secret bank accounts.Read the full article at The Australian.
Government relying more on income tax as GST, company take declines

Government relying more on income tax as GST, company take declines

by Shared by The Australian and Accountancy Age | Jul 19, 2018 | News

Parliamentary Budget Office analysis released yesterday warns that in the absence of cuts to government spending, the dependence on personal income tax is set to increase. “There is a likelihood taxes on consumption will continue to trend downwards, taxes on capital...
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