Tax
Treasurer responds after budget attack by ex-RBA head
1 July
The treasurer has hit back at attacks to budget tax changes from a former Reserve Bank governor after the contentious laws passed parliament. Ex-RBA governor Philip Lowe said changes limiting negative gearing and the capital gains tax discount would...[Read More]
Pledge to fix ‘widow’s tax’ on investment properties
1 July
Treasurer Jim Chalmers has promised to fix laws imposing a so-called “widow’s tax” on investment properties, without providing details on how he will close the loophole. The issue, which relates to investors with jointly owned properties...[Read More]
June 30 is upon us: Starting the new financial year on the right foot
25 June
June 30 marks more than the end of another financial year. It is an opportunity to review the past 12 months and put better financial habits in place for the year ahead. Tax planning should not be limited to the weeks before a tax return is...[Read More]
Home owners told to ‘take a deep breath’ on tax reforms
24 June
Plunging auction clearance rates are not cause for concern, top government ministers are insisting, with one urging anxious home owners to “take a deep breath”. An overhaul of negative gearing and capital gains tax is expected to pass federal...[Read More]
Labor identifies businesses to be exempt from new tax
24 June
A budget backlash has prompted Labor to announce new carve-outs for innovative firms from the capital gains tax, as well as a backdown on a minimum tax on testamentary trusts. WHAT DID LABOR ANNOUNCE IN THE BUDGET? * The existing 50 per cent...[Read More]
What Labor agreed to in order for tax change support
24 June
WHAT THE GOVERNMENT WANTS PASSED * Laws stemming from the federal budget would limit negative gearing to new builds from July 2027, while scrapping a 50 per cent discount on the capital gains tax and replacing it with a minimum 30 per cent rate tied...[Read More]
Small business, payments system brace for payday super
24 June
Superannuation is set for its most significant change in decades but a week ahead of implementation, many businesses – and potentially the clearance system itself – aren’t ready. From July 1, employee superannuation contributions must land in...[Read More]
Payday Super: why employers should start preparing now
18 June
From 1 July 2026, Australian employers will need to manage superannuation guarantee payments differently. Under the Payday Super reform, super will move away from being mainly a quarterly compliance task and become part of the regular payroll...[Read More]
Better but ‘not perfect’ tax reform wins expert support
17 June
Parliamentarians are being urged to pass laws limiting tax breaks for property investors and not “let the perfect be the enemy of the good”. Looming tax reforms would help make the tax system more equitable, independent economist Saul Eslake...[Read More]
CGT share changes will ease home prices, treasurer says
17 June
Controversial tax changes for shares and businesses will prevent more money from being funnelled into existing homes, Treasurer Jim Chalmers claims. Businesses have been relatively receptive to Labor’s decision to wind back tax breaks for property...[Read More]
Fight and flight: tax inquiry fuming just a smokescreen
17 June
Concerns controversial tax changes are being rushed have been hosed down as experts dismiss claims businesses will flee overseas due to the measures. Under changes proposed by the federal government, the capital gains tax discount of 50 per cent...[Read More]
Running a side business while still employed: What to consider at tax time
11 June
Many Australians start a sole trader business or partnership while still working as an employee. It might begin as a side hustle, a family business, consulting work, a trade, an online store, or a passion project that slowly becomes more serious....[Read More]
‘Reform is always hard’: PM coy on tax carve outs
10 June
Startups may be able to claim greater tax concessions than initially announced in the federal budget as the government grapples with blowback to its economic reforms. Treasurer Jim Chalmers is in talks with businesses about allowing startups to keep...[Read More]
Tax changes push biotech and health sectors offside
10 June
Some of Australia’s leading health and life sciences organisations are urging Treasurer Jim Chalmers to review the changes to research and development taxes proposed in his budget. Sector advocates say while they’re concerned over a number of Dr...[Read More]
Charity cheerleader brushes off impact of tax plan
10 June
Proposed taxes on trusts could limit the amount of money given to charities, but the minister responsible says it’s the least of the sector’s problems. With more than $5 trillion expected to pass down the generations through wills and bequests...[Read More]