This Month
Gambling sector stunned by axing of tax breaks
The wagering industry said Labor’s decision to axe the R&D tax incentive for gambling and tobacco companies risked exposing other sectors to political horse-trading.
- Updated
- Ronald Mizen
Capital gains benefit spikes to $22.7b as property investors sell out
Treasury estimates forgone taxes from the capital gains tax discount in 2024-25 have more than doubled since the last estimate in February 2023.
- Ronald Mizen and Michael Read
Tax rise on $3m-plus super accounts ‘unfinished business’: Chalmers
Jim Chalmers says he’ll keep pursuing higher taxes on $3 million-plus superannuation accounts, but won’t go after negative gearing.
- Phillip Coorey
October
Chalmers flags crackdown on tax refunds for pokie makers
ASX-listed poker machine giant Aristocrat had a research and development budget of $22.1 million in 2021-22, according to the ATO data released earlier this month.
- Ronald Mizen
A man tried to claim his wife’s chores on tax – it did not end well
A long list of claims by an IT professional prone to “embellishment” included $11,420 for home-office cleaning and document management by his wife.
- Joanna Mather
Financial advice just got cheaper. But there’s a catch
A change in the tax deductibility rules should mean Australians pay less the first time they use an adviser. But what is the downside?
- Michelle Bowes
Labor MP blasts tax credit scheme as gambling firms claim millions
Revelations that gambling companies have been spending millions on R&D tax credits have come as a surprise to some senior figures in Labor.
- Zoe Samios and Ronald Mizen
August
Yachts, fine art and investment properties targeted by ATO
The ATO will use data from insurance and property management companies to cross-check taxpayer claims.
- Duncan Hughes
- Opinion
- Chanticleer
AirTrunk’s $20b auction the first big test of tax changes
The heat around the Macquarie-backed data centre group has so far papered over the questions raised by two tax changes – one legislated, one prospective.
- Anthony Macdonald
July
The $1m investment that will give you warm fuzzies and a tax deduction
These funds are the vehicle chosen by many wealthy families – this is how they work.
- Michael Hutton
Zinc miner’s $30m deductions claim sinks in royalties stoush
Queensland Supreme Court rejects attempts to claim expenses for managing a transport vessel – before a management agreement started.
- Liam Walsh
June
Can I do anything to maximise my tax return this close to June 30?
Though the end of the financial year is just days away, there are still some last-minute ways small businesses can reduce their tax liabilities.
- Penny Wise
Eight ways high earners can maximise their tax returns
The key message this tax time is to bring deductions forward and push income back.
- Michelle Bowes
Future Made in Australia to rely on corporate intel
Development of Labor’s manufacturing agenda will rely on closely held intelligence from private companies about their capabilities and weaknesses.
- Updated
- Tom McIlroy
High Court rejects tax break for Dubai ruler’s horse stud
The High Court has ruled that racing and breeding giant Godolphin cannot claim a tax exemption for rural land.
- Updated
- Michael Pelly
May
Turbocharge business investment tax break, Labor urged
Small business says Labor’s investment tax break is not ambitious enough to boost growth in the economy.
- Tom McIlroy
The taxman has a warning for property investors this year
As many as nine out of 10 landlords make mistakes or illegitimately claim extra rental deductions as part of their annual tax return.
- Tom McIlroy
March
UK’s new tax slug could force expat Aussies home
Australians living in the UK for more than four years will lose the benefits of negative gearing and franking credits on their property and shares.
- Updated
- Hans van Leeuwen
SingTel slugged in $895m ATO loss
The Tax Office has secured a transfer pricing win against the parent company of telco giant Optus.
- Tom McIlroy
February
How high earners can claw back lost stage three tax cuts
Experts explain how to reclaim lost stage three tax cuts via extra superannuation contributions.
- Duncan Hughes