Should the Coalition’s $300 billion of tax cuts ever be enacted, they would push the budget back towards deficit.
Articles on Income tax
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The promised tax cuts will benefit high earners in 2022 and 2024, but by then they’ll need it.
The debate about tax cuts has morphed into a debate about annual lump sum payments, and for many Australians, Labor is offering more.
It’s tax season. That’s why Canadians must pay close attention to the possibility of going from the tax avoidance realm into tax evasion when preparing their tax returns or hiring an accountant to do so.
If you can understand this, you might just understand the election. Here’s our quick guide to the language of dividend imputation.
The promised budget surplus depends on everything going right, and much more income tax says the Parliamentary Budget Office.
It was a busy week in politics, with the federal government passing its income tax package, more squabbling over the ABC, and all parties gearing up for the July 28 byelections.
The Senate on Thursday is set to pass intact the government’s $144 billion three-stage income tax package - but whether the plan is fully delivered will depend on who wins the election.
The income tax cuts in the 2018 federal budget are likely to be modestly regressive, giving high earners a lower share of the overall tax burden. But by 2028 income tax will be higher across the board.
The Greens plan would bring in “a Buffett rule” to ensure higher income earners paid their fair share of tax by limiting deductions made by those earning more than $300,000.
The government is pinning its hopes on making this election all about tax – casting itself as champion of lower tax and Labor as signed up to what Morrison dubs the “high tax club”.
The government says personal income tax cuts are needed to provide relief from low wages and high cost of living, but will tax cuts make up for that?
In the 1950s, Canada made it easy for employees to file their income tax. Now let’s simplify the process for others, too.
Politics podcast: Michael Keating on a Fair Share
The Conversation54.4 MB (download)
Keating told The Conversation that taxation revenue will need to rise by another 3 percentage points of GDP in the next three decades.
Congress changed the tax system to benefit companies with overseas operations but failed to help Americans actually living abroad, who still face punitive taxation.
On Q&A, Australian Chamber of Commerce and Industry chief executive James Pearson said almost 60% of small business owners in Australia are paid $50,000 or less. Is that right?
The lost incentives to give are likely to make a bigger difference than the small uptick in economic growth expected from the new law.
Malcolm Turnbull has raised the prospect of personal income tax relief to help middle-income earners.
Outrage over tax reform is nothing new. But if we can’t be calm about tax, we can at least learn from the stories spoken in anger.
Christian Porter said Australia’s welfare system ‘was costing over 100% of all income tax raised’ under Labor after the GFC, and that it’s ‘around 80%’ under the Coalition. Is that true?
Top contributors
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Professorial Fellow, University of Canberra
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Associate Professor, POLIS@ANU Centre for Social Policy Research, Australian National University
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Visiting Fellow, Crawford School of Public Policy, Australian National University
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Senior Associate, Grattan Institute
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Visiting Fellow, Tax and Transfer Policy Institute, Crawford School of Public Policy, Australian National University
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Democracy Deputy Program Director, Grattan Institute
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Scientia Professor of Economics, UNSW
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Chief executive officer, Grattan Institute
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Director, POLIS: The ANU Centre for Social Policy Research, Australian National University
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Vice-Chancellor’s Fellow, University of Tasmania
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Professor Emerita of Law, Vanderbilt University
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Lecturer in Accounting, Edinburgh Napier University
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Associate Professor of Business, Boston University
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Visiting Professor of Tax Law, New York University, and Professor of Law, The University of Melbourne
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Professor of Economics, Director of the Australian Institute for Business and Economics, The University of Queensland