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Income tax

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If you’re not careful, your children could be left with less than you think when you pass.

How will my super be taxed if I leave it to my kids when I die?

When you pass away, the money in your super account will be paid out as a lump sum, and, in some situations, taxed.

  • Noel Whittaker

Latest

Former Treasury boss Ken Henry says the tax system is deliberately designed to hurt young people and future generations.

‘Wilful act of bastardry’: Henry condemns tax system for crushing young Australians

Former Treasury boss Ken Henry says a succession of governments have used the tax system to deliberately hurt young people, propping up the old and vested interests like mining.

  • Shane Wright
Prime Minister Anthony Albanese’s revamp of the stage 3 tax cuts have not been enough for many Australians.

Everybody thinks they pay too much tax but this group is unhappier than others

Most respondents to a survey said they felt overburdened but a similar proportion wanted more government spending on health and education.

  • Shane Wright
President Donald Trump has imposed, then paused tariffs on Canadian, and Mexican. Tariffs on Chinese goods have been announced while tariffs on the EU have been threatened.

Trump wants lower interest rates. His tariffs won’t help

Less than an hour after Trump declared that lower interest rates would go “hand in hand” with his tariffs, poor US inflation data saw the prospects for rate cuts diminish.

  • Stephen Bartholomeusz
Treasurer Jim Chalmers said Australians would have been facing much more pressure under Peter Dutton.

Hooked on sugar-hit policies, we keep ignoring the tax elephant in the room

It’s been 25 years since a government sold tax reform to Australians. The time has come for them to try again.

  • Rachel Clun
The lack of fanfare over the government’s successful stage 3 tax cuts says a lot about Australian’s money saving habits.

Stage 3 tax cuts are a smash success, so why aren’t we more thankful?

The lack of fanfare over the government’s successful stage 3 tax cuts says a lot about Australians’ saving habits.

  • Victoria Devine
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The federal budget is improving from where Jim Chalmers had expected, but it is still on track to end up in the red.

Extra tax boosts bottom line, but spending leaves budget in the red

Jim Chalmers, after back-to-back surpluses, forecast a $26.9 billion deficit this year. Despite better tax collections, the budget is still awash with red ink.

  • Shane Wright
The ATO is cracking down on landlords who don’t declare, or incorrectly declare, rental income.

The ATO’s new move to claw back more than $1b from dodgy landlords

Landlords who have made mistakes on tax returns could face thousands of dollars in fines and interest on top of repaying unpaid tax.

  • Jim Malo
Super.

This super strategy can help you avoid the ‘death tax’

If you’re not careful, the money you still have in super could be significantly taxed once you die.

  • Nicole Pedersen-McKinnon
There has been a surge in the number of people using trusts to help manage their tax affairs.

Never mind negative gearing. Australians pushed $67b through this tax vehicle

The record amount has flowed through a growing number of trusts to help Australians, mostly high-income earners, reduce their tax bills.

  • Shane Wright

Original URL: https://www.theage.com.au/topic/income-tax-5yk