This Month
Labor extends key small business tax break
The instant asset write-off for small business will be extended for one year, but Anthony Albanese says making it a permanent feature would slow or stop investment.
March
Albanese says more sweeteners to come for tradies, blue-collar workers
Responding to why he failed to extend the small business $20,000 instant-asset write-off for another 12 months, the prime minister hinted there would be more news to come for plumbers, electricians and other tradies.
Our experts deliver their budget verdicts
What experts Phil Coorey, James Thomson, Jennifer Hewett, John Kehoe, Michael Stutchbury and Lucy Dean thought of Tuesday night’s federal budget.
February
Treasury boss rejects ‘politicisation’ attack by Coalition
In a fiery estimates hearing, Steven Kennedy rejected claims his department has been politicised by Jim Chalmers and filled with former Labor advisers.
We have $4m in super. How much can we safely spend each year?
Nobody knows how long they will live, which is what makes budgeting in retirement so tricky.
What’s the fairest way to give my kids money for a house deposit?
Gifting equally is likely to reduce the risk of resentment and family conflict.
‘It’s not 2022 anymore’: How teal MPs are reshaping their pitch
The shift in language from teal MPs to focus more on hip pocket issues such as tax over the past year tells a story about a changing political landscape.
PM’s plan to wedge Libs on childcare, production tax credits
The government has fast-tracked legislation for its signature childcare policy to try and expose the Coalition on the cusp the federal election.
December 2024
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.
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.
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.
October 2024
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.
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.
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?
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.
August 2024
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.
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.
July 2024
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.
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.
June 2024
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.