Albanese Government Targets CGT Discounts, But Australians Want Broader Approach

With the looming challenge of a $50 billion budget deficit, the Albanese government is seeking to change many tax rules ahead of its planned stage three tax cuts. However, many Australians are looking for a more simple yet sure...

Changes To Capital Gains Tax May Generate Additional $5 billion

The Australian government is finding ways to address the projected $50 billion budget deficit. One of its actions is redesigning the anticipated stage-three tax cuts, specifically decreasing the strength of the capital gains tax (CGT) discounts. A report published by...

Australia’s Tax System Under Scrutiny for Reform Ahead of Next Financial Year

The Australian government needs help maintaining a balanced budget due to the country's outdated tax system. With increased spending requirements, including investments in healthcare and a significant defence build-up, the Labor government is exploring options to boost revenue in the...

Budget Wish List Putting Pressure On Chalmers

The scheduled May 9 budget is fast approaching, and Treasurer Jim Chalmers is in the 'home stretch' about his first official budget since Labor won the election. But Chalmers is still working to address many requests from different sectors. According...

Tax Reform May Be Tainted Teal

Allegra Spender, Wentworth's Independent Member of the Parliament, headed a tax reform roundtable in Canberra. Spender noted in the meeting that taxing workers more heavily would translate the burden of this issue to future generations. Many believe that Spender's...

ATO System of Taxing Alcohol Dubbed ‘Inconsistent’

The 2010 Henry Tax Review used the term 'incoherent' when describing the alcohol taxing system Australia is following. The current tax system follows different rulings when taxing different types of alcoholic beverages. According to the existing ruling, some wine "effectively...

Global Backlash Brewing Against Australia’s Latest Tax Plan

Australian lawmakers are facing international criticism over the country's latest tax plan, which opponents claim could damage global economies and disrupt the flow of capital across borders. The Treasury has shared an exposure draft law and draft explanatory materials (known...

AU’s Challenges With the Existing Tax System

The Albanese government faces a challenge: the country's spending is increasing, but revenue generation needs to keep up with the pace. Many experts call for action and a better future for the next Australian generations. According to many experts, the...

Experts Hopeful Canberra Tax Roundtable Have Positive Impact on Climate Change

Independent member of the parliament Allegra Spender recently hosted a tax roundtable in Canberra. The roundtable was attended by several experts who discussed the challenges they feel would impact future generations regarding finances and the climate. The roundtable was attended...

Survey Discovers Thoughts of Top AU Economists in Addressing Country’s Challenges

An interesting survey was conducted in which 59 leading economists participated. The survey posed a momentous task to its participants: raise a A$20 billion per year fund allocation. The survey stated that the money would fund government priorities such...
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