South Africa has a progressive tax system. But there are parts of it that reduce its impact and need to be fixed.
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The federal government wanted to give taxpayers a couple months to prepare the year’s taxes. But as filing became more complex, the date was pushed back.
The tax cuts only look big when compared to no cuts, an alternative that isn’t realistic.
Compared with other OECD nations, Australians pay much less tax than some headline statistics suggest.
It would be a mistake to think that just because higher earners face higher tax rates, that’s what they pay. When it comes to income from savings it’s the other way around.
The COVID-19 pandemic has hit the production side of the economy, So how will tax cuts for those on high incomes help?
Claiming for working for home is fraught. It’s safest to claim the running expenses the tax office allows. ‘Occupancy expenses’ are harder to justify and could cost you your capital gains tax discount.
A bold government would have delivered stages one, two and three of the tax cuts at once. Boldness is what we need.
The Morrison government’s tax changes will benefit high income earners the most and low income earners the least, says the National Centre for Social and Economic Modelling.
You need to be confident and establish a firm, trusting relationship before entrusting someone to do your taxes. Start as soon as possible. Don’t wait for the April 30 tax deadline.
It seems that timing tricks are now a thing in Australian politics. Revenues are brought forward and spending pushed back for cosmetic effect.
Even though this year’s budget is pretty good politics and reasonable economics, on almost every front, it is a missed opportunity to be bold.
In the 1950s, Canada made it easy for employees to file their income tax. Now let’s simplify the process for others, too.
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?
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.
The bar for achieving that lofty goal was set almost 150 years ago when Congress cut taxes from as high as 10 percent to zero over two years.
As tax day approaches, here’s a primer on how your dollars help fund the U.S. government, and how your share has probably increased.
In his 2017/18 budget speech, South Africa’s finance minister Pravin Gordhan opted to focus on taxing high income earners to find desperately needed money.
Top contributors
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Scientia Professor of Economics, UNSW
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Associate Professor of Business, Boston University
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Inglis Professor at University of King's College, Professor of Canadian History (retired), Dalhousie University
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Director, Centre of Policy Studies, Victoria University
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Professor of Law, University of Johannesburg
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Professor of Practice, Cornell University
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Associate Professor of Taxation Law, UNSW
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Associate Professor, POLIS@ANU Centre for Social Policy Research, Australian National University
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Lecturer in Economics, University of Canberra
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Professor, Crawford School of Public Policy, Australian National University
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Research Fellow, Tax and Transfer Policy Institute, Crawford School of Public Policy, Australian National University
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Professor, Institute for Governance & Policy Analysis, University of Canberra
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Senior Research Fellow, NATSEM, University of Canberra
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Francois Brouard is a Friend of The Conversation.
Full Professor Accounting and Taxation / Professeur titulaire comptabilité et fiscalité, Sprott School of Business, Carleton University
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Professor, School of Economics, The University of Queensland