NewsBite

Tax

March

Mary and Tom demonstrate the effect of bracket creep’s sneaky toll

Lifting the income tax thresholds in line with wages growth would mean an extra $25,000 over a decade.

The ATO is continuing its fight over unpaid present entitlements.

$1b family trusts dispute may be headed to the High Court

The Australian Taxation Office will continue to fight a decision that could leave it owing as much as $1 billion in refunds to 971,000 family trusts.

AirBnB operators in Victoria could be exposed to land tax under state government changes.

Victoria starts handing out hefty bills in land tax ‘grab’

More than 400,000 people who run a small business or Airbnb from their home have been hit with hefty land tax bills under the government’s plans to rein in debt.

February

The ATO alleges Igor Cikes may be the “controlling mind” behind the tax fraud.

Chase has stalled in suspected $180m corporate fraud case

A liquidator has not been able to secure ATO funding to aid an investigation into a suspected tax fraud in the construction industry.

Meet the accountant linked to Sydney’s most infamous tax scammers

Filomena Kyriacou led an accounting firm that advised clients who avoided millions in tax, dealt with organised crime figures and was linked to some of the most infamous tax scammers in the country.

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The ruling in favour of Melbourne accountant Steven Bendel could lead to $1 billion in refunds.

Family trusts may seek $1b in tax refunds after landmark decision

Family trusts incorrectly penalised by the Australian Tax Office should act now to lodge objections, lawyers say.

Australia has raised tobacco taxes so far and so fast that we’ve spawned a vast black market.

Australia’s $10b tobacco mistake that’s helping criminals thrive

Unless and until we pair our tobacco taxes with matchingly strong enforcement, we’ll keep failing to fight illegal tobacco and cut smoking rates.

January

Donald Trump.

Trump’s tax plans will send Aussie businesses to America

The promise of a US economic boom driven by lower taxes and deregulation is already starting to turn the heads of Australia’s business titans and entrepreneurs.

December 2024

Damon Hanlin, MD of Titan Group, and Domus House 30 Derriwong Road Dural.

The football club boss, drug-dealing director and $100m scam

A liquidator claims crane company boss Damon Hanlin may have controlled a tax fraud scheme that involved shadow directors and dishonest dealings.

November 2024

Hit by tax because your high-interest saver did too well? Here’s what you can do.

Average tax refund revealed, and why you may receive ‘surprise’ bill

Bank depositors have had much to celebrate as rates have stayed higher for longer. But with more interest comes more tax. Here are some solutions.

October 2024

Former Virtical director and twice bankrupt John Palasty.

Virtical pub group’s alleged tax scam bill could top $50m

Leaked ATO audits reveal what could be one of the most brazen alleged tax scams in corporate history.

Jay Onley and Adam Cranston masterminded the Plutus Payroll fraud.

Juror misconduct probe flagged for Plutus tax fraud trial

Sheriffs will be asked to probe possible juror misconduct in the Plutus tax fraud trial, which ran for nine months and led to five people being jailed.

September 2024

ATO found pub empire made ‘fictitious’ GST refund claims

Virtical Group made false claims for millions in GST refunds based on invoices for construction that did not happen on property it did not own, the tax office has found.

George Alex outside the NSW Supreme Court at Darlinghurst during jury deliberations in his tax fraud trial.

Alex found guilty of $10m tax fraud conspiracy

Construction identity George Alex has been found guilty of conspiring to defraud the tax office through his labour hire firms as his marathon six-month trial came to an end.

June 2024

Fast-rising wages and asset prices will leave more Australians facing Division 293 tax on their income and deciding whether to pay it from their super.

Why you could be caught by the ‘wealth tax’ this year

Fast-rising wages and asset prices will leave more Australians facing Division 293 tax on their income and deciding whether to pay it from their super.

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May 2024

Husic calls for lower corporate taxes

Husic calls for lower corporate taxes

Minister for Industry and Science Ed Husic says the Labor government would consider revising the company tax rate.

The ATO alleges Igor Cikes may be the “controlling mind” behind the tax fraud.

Tax office moves on administrators in ‘$180m tax fraud’

The administrators of a formwork company involved in what could be the country’s biggest tax fraud are facing court action for reducing an $11 million payroll tax debt to just $1.

April 2024

Commonwealth Bank CEO Matt Comyn.

Matt Comyn’s tax reform ideas don’t warrant breathless praise

Readers’ letters on the CBA chief executive’s tax proposals, why banking regulation is still needed, the lack of research on solar equality, GST fumbles, and calls for more gas.

March 2024

How I would fix Australia's productivity challenges: Comyn

How I would fix Australia's productivity challenges: Comyn

CBA CEO Matt Comyn freestyles some ideas to change political terms and reform tax to turbocharge Australia's productivity.

How Australia can get on with the job of tax reform

A real estate agent would describe our tax systems as ‘a renovator’s delight’.

Professor Clinton Free from the University of Sydney Business School says funding and motivation may matter more than laws.

Experts concerned over ASIC’s lack of phoenixing prosecutions

Little has changed in illegal phoenixing since the $105 million Plutus tax fraud as the building industry is hit by a wave of tax-dodging schemes.

Connie Stojic’s five-bedroom, five-bathroom home in Maroubra sold for a record-breaking $14 million in 2021.

Couple who enjoyed $14m Sydney mansion accused of tax-dodging scheme

A husband and wife associated with a formwork subcontractor, and who once owned a $14 million trophy home, are facing claims they scammed the ATO of millions.

‘The cost of doing business’: A building sector at boiling point

After a series of alleged large-scale tax fraud in the construction sector, subcontractors in the building industry fear they can no longer compete as firms underquote.

February 2024

The Bank of England doesn’t seem to like the market’s sense of when interest rate cuts will start.

Britain, like Australia, has tough calls to make on tax

The Tories need tax cuts to revive their election prospects this year. But tax cuts might be unaffordable, and could keep interest rates higher for longer.

Original URL: https://www.afr.com/wealth/tax