Income tax gets lower, fairer: treasurer

Income tax rates for low to middle incomes by increasing rates

People earning low-to-middle incomes will be hardest hit by rising average tax rates over the coming decade, the analysis released by the Parliamentary Budget Office found. But Treasurer Josh Frydenberg says under the government’s tax plan, low and middle income earners are receiving up to $530 in immediate relief each year.”Our personal income tax plan … Read more Income tax gets lower, fairer: treasurer

Tax boss warns outages are ‘a fact of modern life’

ATO to go down due to increased server load is a fact of life

Tax commissioner says businesses need a plan for when the ATO goes down. Tax commissioner Chris Jordan has warned that the technical outages that have caused disruption for businesses are “a fact of modern life” and not going to cease. In the wake of continuing outages at the Australian Tax Office, Mr Jordan warned businesses and … Read more Tax boss warns outages are ‘a fact of modern life’

Australians over-claim $8.7 billion in tax

Australians over claim on tax returns cost the government almost 9 billion dollars

Australians over-claiming on their tax returns took almost $9 billion out of the federal government’s budget in just one financial year. The Australian Taxation Office has published an estimate of the tax it collects and the amount that would have been collected if individuals fully obeyed the law. While 93 per cent of income tax from … Read more Australians over-claim $8.7 billion in tax

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