Super backlash ‘doesn’t augur well for tax reform’ The uproar over proposed changes to superannuation tax concessions does not bode well for the government’s chances of passing broader tax reform, Treasurer Jim Chalmers says. First introduced two years ago, the plan would double the concessional tax rate...
Nearly three million low-paid workers will take home an extra $32 a week in pay after the industrial umpire decided to make up for falling real wages and living standards in recent years. The Fair Work Commission delivered a 3.5 per cent increase for employees on...
What is a tax return A tax return is a form you complete online, on paper or get a tax agent or our Tax Help program to help you with. Your tax return tells us: how much money (income) you earn if you are claiming any deductions. We use...
Australia’s dire productivity performance doesn’t look like rebounding any time soon, with troubling implications for the Reserve Bank’s interest rate path. Data released on Thursday reinforced the challenge the nation faces to get productivity growing again. Private capital expenditure – essentially investments by businesses in equipment or...
Big business wants artificial intelligence to handle more “boring but essential” jobs as part of a race to establish Australia as a global leader in the technology and avoid decades of playing catch-up. AI is a significant opportunity to boost living standards and the nation’s “next...
Holiday home – not rented out If you own a holiday home and don’t rent out the property, you don’t include anything in your tax return until you sell it. When you sell the property, you will need to calculate your capital gain or loss. Keep all records from...