Modest tax cuts, changes to the way superannuation is paid and a whole lot more – this is what’s changing from next week.
Articles on Tax deductions
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From dodgy deductions to avoid, to timing when you submit depending on if you expect a refund or a bill, two tax experts explain what you need to know.
New deductions usually introduce new complexities and the need for better recordkeeping.
Evidence shows giving to others is associated with better mental health.
Penalties of 25% to 75% of the tax owed may apply for falsely claiming deductions. The more dishonest the claim, the higher the fine.
Once the election hype settles, Labor must deliver on its promises. And, of course, these policies will ultimately have to be paid for.
Labor and the Coalition have both acknowledged the cost-of-living crisis facing many Australians in separate tax policies unveiled on Sunday.
Further promises of tax breaks for businesses are likely in the run-up to the election, but that will mean trade-offs are needed.
Much is unknown about the Coalition’s ‘long lunch plan’ causing speculation about its impact on the budget and exactly who will benefit.
A new report reveals which companies are paying tax and which aren’t. But it lacks other important detail on the tax practices of Australia’s largest corporations
Three decades of tax returns show striking patterns. Numbers that end in zero are more likely than other numbers, and more likely to indicate deceit.
The richest 1% of schools get 36% of the support delivered through tax-deductible donations, a situation the Productivity Commission wanted to end.
Whether you use a tax agent or do your own, getting your tax return right is important. Mistakes or fraudulent claims may come back to bite you.
The UK government has recently indicated that it could make some surprise tax announcements in coming days.
Tax advisers are more likely to act as “tax exploiters” for wealthy clients but “tax enforcers” for the rest of us.
The Morrison government will ensure COVID tests are tax deductible for workers and exempt from fringe benefits tax for businesses when purchased for work-related purposes.
Taxpayers, including those paying tuition fees with FEE-HELP loans, can claim a deduction for self-education expenses that relate to the work they do. But graduates with a HECS-HELP debt can’t claim.
Some tax deductions for the cost of managing tax affairs exceed $1 million, but high wealth individual\s can write off the expense in other ways.
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.
Several countries — namely Austria, Finland, Ireland, Italy, Sweden and Switzerland — have removed tax benefits for charitable donations. Here’s why Canada should follow suit.
Top contributors
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Professor and Founding Director of UNSW Tax and Business Advisory Clinic, UNSW
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Associate Professor of Taxation Law, UNSW
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Professor of Taxation, QUT Business School, and ARC Future Fellow, Queensland University of Technology
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Emeritus Professor, School of Accounting, Auditing and Taxation, UNSW
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Associate Professor, Accounting, UNSW
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Associate Professor of Business, Boston University
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Associate Professor of Economics, University of Manitoba
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Glenn Family Chair Emeritus of Economics and Philanthropic Studies, Indiana University
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Assistant Professor of Economics, University of California, Los Angeles
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Emeritus Professor, Faculty of Business & Law, Queensland University of Technology
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Lecturer in Social Inquiry, La Trobe University
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Law Professor, University of New England
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Senior Lecturer in Accounting, University of Surrey
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Professorial Fellow, University of Canberra
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Professor of Economics and Director, Tax and Transfer Policy Institute, Crawford School of Public Policy, Australian National University