Tax return: Millions set for huge tax cuts, with high earners benefiting most

Huge tax cuts are coming and a group of Australians will be the biggest winners. Here is everything you need to know. Despite a crushing rise in the cost of living, it is well-off Australians who will get the biggest tax break, with Anthony Albanese vowing to press ahead with tax cuts that disproportionately benefit … Read more

Retirement tax breaks leave middle-class savers behind, report says

fstop123 | E+ | fake images Tax breaks designed to boost retirement savings may primarily benefit higher earners, leaving middle-class workers behind, according to a report from the National Retirement Security Institute. Since most Americans receive less than half of their pre-retirement income from Social Security, many rely on employer-sponsored savings plans and individual retirement … Read more

Australia Institute: Major gas companies pay zero income tax in seven years

Five fossil fuel giants that earn billions of dollars in Australia and yet pay no income tax have been exposed in a new report. A shocking new report has revealed that five gas company giants have paid no income tax on their Australian operations for seven years. The Australia Institute made the discovery after analyzing … Read more

Election 2022: Scott Morrison dodges crucial tax hike question

Scott Morrison has sidestepped a crucial question about how much tax low- and middle-income people will have to pay starting next year. Prime Minister Scott Morrison has avoided disclosing how much more millions of Australians will pay in tax when the Low and Middle Income Tax Offset (LMITO) is abolished next year. A report from … Read more

Rishi Sunak faces investigation as questions mount over his financial interests

Over the weekend, Mr Sunak ordered a leaked inquiry to find and possibly prosecute the culprit who disclosed his wife’s non-dom status, which had allowed her to potentially avoid millions of pounds in UK tax. Backed by the Cabinet Office, it is set to examine not only the “keepers” of the sensitive information and those … Read more

Federal budget 2022: Huge problem with $1500 cash bonus, LIMIT, stage three tax cuts

This week’s pre-election budget contained billions of dollars in sweeteners and cost-of-living measures – but experts say the $1500 handout hides a “cynical” truth. Last week’s pre-election budget contained billions of dollars in sweeteners and cost-of-living measures – but experts say the $1500 handout hides a “cynical” truth. Under the turbocharged low and middle income … Read more

Budget 2022: One-off payments, tax cuts and offsets you could receive

It’s a Budget before an election and that means you could see some of those sweeteners flow through to your bank account not in months – but days. With an election just around the corner, the government is wasting no time with its Budget bounty. The first $250 one-off payments struggling to households, worth up … Read more

Federal budget 2022 cash payments: How much tax cut will I get?

Josh Frydenberg is “putting more money in the pockets” of millions of Australians struggling with higher prices. Here’s how much you will get. Josh Frydenberg is “putting more money in the pockets” of millions of Australians struggling with higher prices for petrol, groceries and medicines. As war rages in Ukraine, communities struggle to rebuild after … Read more