Tag: Tax

Australians spent over $790 million on overseas gambling sites in 2008, sending with it any possibility to earn tax revenue for Australia due to laws restricting gambling sites in Australia.

Treasurer Wayne Swan has warned against expectations of a budget surplus despite the global recession economic recovery as tax receipts continue to be depressed.

A new whole-of government blog has been launched on the Standard Business Reporting (SBR) Program – an Australian Government initiative led by Treasury to reduce the business-to-government reporting burden.

The campaign for a Robin Hood tax has hit Australia, with high profile Australians and charities (but few economists) lining up to support the cause.

Hospitals, schools and charities are all under threat by the Henry Tax Review’s proposed changes to Fringe Benefits Tax concessions according toaccounting firm BDO.

Small business owners are at risk of having to pay thousands of dollars in retrospective taxes as a result of the ATO’s recent draft ruling regarding trust income and gains that are allocated to, but not paid to, private company beneficiaries of the trust.

Tony Abbott’s proposed plan to introduce a national paid parental leave scheme has received support from the nation’s peak small business body today. Jaye Radisich, CEO of the Council of Small Business of Australia (COSBOA) said that Tony Abbott’s scheme would mean that women in the workforce would receive leave at their existing salary level […]

Tony Abbott has been forced to defend himself after proposing a new tax on big business to pay for a 26-week parental leave scheme. Heather Ridout from the Australian Industry Group says the new tax would increase unemployment as businesses struggle to pay the levy. “It fails muster in terms of a paid parental leave […]

Standard Business Reporting (SBR) is an Australian Government initiative to reduce the business-to-government reporting burden. SBR has been co-designed by Australian, state and territory government agencies in partnership with software developers, business and their accountants, bookkeepers, tax agents and payroll professionals. SBR is simplifying business-to-government reporting by: • removing unnecessary or duplicated information from government […]

Tax agents are facing cashflow problems as the Australian Tax Office’s (ATO) new income tax processing system has been delayed. The common practice of accountants deducting their tax preparation fee from taxpayers’ refunds has been put into turmoil as the ATO have not processed 705,000 tax returns since last year. Adrian Raftery, CEO of accountantsRus, […]