Posts tagged "income tax"

Taxpayers who believe their tax affairs are straightforward have been given the "green light" by the ATO to go ahead and commence lodging their income tax returns.

Australian taxpayers are using TikTok to share their surprise and disappointment at their 2022-2023 income tax returns, highlighting some of the significant tax changes that came into effect last financial year.

I recognise most of you don’t want to hear this, but I have a tip on how to lead a happier and more productive life. Be happy about paying taxes.

Treasurer Jim Chalmers says the expected 10-year cost of the tax reforms has blown out, but said next week's federal budget is not the place to address those concerns.

At this time of year, tax deductions are front of mind. Here are some changes to keep in mind due to the COVID-19 pandemic.

Hardworking or not, Australians on more than $200,000 are rare. And an awful lot of them don’t work at all.

The data — leaked by an anonymous source — is American, but this kind of thing happens in Australia too, UNSW associate professor Ann Kayis-Kumar explained.

Tax office data has been used to calculate ways that would give a standard deduction to everyone who wants it (and others more, up to a cap) without increasing the total paid out.

Small business grants offered in response to the coronavirus economic crisis will not be subject to income tax under new legislation.

In the future, the ATO could take the strain off business owners by doing many of their obligations for them, Chris Jordan says.

The ATO has warned businesses will not be able to claim JobKeeper wages under their R&D tax incentive deductions, foreshadowing retrospective red tape.

Even if the government hadn’t spent $5.9 billion on JobKeeper and other emergency measures last financial year, its budget position would have collapsed.