Posts tagged "tax cuts"

With a backdrop of rising inflation and falling wages, the government is facing renewed pressure to rethink its support for Morrison-era tax cuts.

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.

Tradies, hairdressers, nurses and politicians could miss out on a tax break if the federal government backflips on, or rethinks, the scheduled Stage 3 tax cuts, as the Treasurer flags "difficult decisions" must be made in this month's federal budget in light of a looming global recession.

Ditching the stage three tax cuts would be a disaster for Labor and a welcome fillip for a divided opposition.

The Albanese government has introduced tax cuts to electric vehicles in its first sitting week, but this won’t help most Australians afford one.

The strategy involves deferring declaring income in your personal name, quarantining it in a company environment, and then declaring income after the tax rates become more beneficial for individuals in 2024.

The Reserve Bank is pushing up interest rates to take money out of our hands, so why is the government scheduled to do the opposite?

Overwhelmingly, Australia’s top economists would rather the budget funds measures to cut carbon emissions than cuts income tax or company tax.

Treasurer Josh Frydenberg says he hasn’t “made any final decision” on the $7.8 billion per year low and middle income tax offset ahead of next month’s budget.

Major spending on skills and hefty asset write-offs and loss carry-back schemes are key wins for SME owners in the 2021 federal budget.

The JobMaker hiring credit could prompt employers to hire Australians facing prolonged unemployment.

Now the big headline programs have been dissected, there’s an opportunity to look at some of the lesser-known items in this year’s budget.