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Category: Taxation

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Tomorrow's taxpayers pay for today's policy mistakes

Less affordable housing isn't the only thing set to weigh on Australia's younger generations. If new solutions for pension deficits and the use of resource revenue aren't found quickly, tomorrow's taxpayer will foot the bill.

The mixed fortunes of tax reform in Australia, part 2

Since Federation, reforms to our tax system have proven difficult. Yet they're too important to leave in the too-hard basket, and here's a look at the key ingredients that make a tax reform exercise work, or not.

The mixed fortunes of tax reform in Australia, part 1

While there have been numerous tax reviews at the Commonwealth and state levels, most have not resulted directly in substantive tax reforms. This two-part series looks at that history and explores the pathway forward. 

For the younger generation, we need to get real on tax

The distortions in our tax system have been ignored for too long, and we're now paying the price. It's time Australia got real and addressed the problems to prevent an even greater intergenerational tragedy.

Indexing tax thresholds to address bracket creep

To negate bracket creep, the thresholds at which marginal tax rates change should be indexed to inflation. Instead, governments legislate ad-hoc tax cuts to address bracket creep and announce them with great fanfare.

Are more taxes on super on the cards?

The Government's broken promise on tax cuts has prompted speculation about other promises that it may consider breaking. It's widely believed that super is lightly taxed and a prime candidate for special attention.

Labor had no choice on stage 3 tax cuts

Realistically, the Government had to amend the stage 3 tax cuts. The current state of the economy is far different from when the Coalition tabled the tax cuts in 2019, which provided impetus for the changes.

SAPTO and LITO, or do you really need an SMSF?

Money withdrawn from super after age 60 is tax-free but less understood are arrangements that allows a couple over the age of 67 to earn up to $57,948 per year outside super and pay no tax with LITO and SAPTO.

Cherry-picking cost base after share sale is a tax gift

While the ATO has many ways to watch taxpayer transactions and ensure tax is collected, for some unknown reason, it is legal to select from four different cost base treatments for capital gains tax. It's costing billions.

A capital gains tax discount is legitimate but how much?

Like negative gearing, discounted capital gains tax, especially on residential investment properties, is criticised for giving investors an edge over first-home buyers. A discount is justified but at what level?

Are franking credits back in Labor's sights?

A recent Treasury Department statement on tax spending includes franking credits, which may be coincidence or something more ominous. Here's why the Labor Government shouldn't target franked credits to raise revenue.

The proposal on capital raisings and franking is misguided

In proposing to prevent certain franked distributions that are funded by capital raisings, the Government is addressing the wrong problem, and the solution lies in this week's 2022 Budget announcement on buybacks.

Most viewed in recent weeks

Meg on SMSFs: Clearing up confusion on the $3 million super tax

There seems to be more confusion than clarity about the mechanics of how the new $3 million super tax is supposed to work. Here is an attempt to answer some of the questions from my previous work on the issue. 

Welcome to Firstlinks Edition 566 with weekend update

Here are 10 rules for staying happy and sharp as we age, including socialise a lot, never retire, learn a demanding skill, practice gratitude, play video games (specific ones), and be sure to reminisce.

  • 27 June 2024

Australian housing is twice as expensive as the US

A new report suggests Australian housing is twice as expensive as that of the US and UK on a price-to-income basis. It also reveals that it’s cheaper to live in New York than most of our capital cities.

The catalyst for a LICs rebound

The discounts on listed investment vehicles are at historically wide levels. There are lots of reasons given, including size and liquidity, yet there's a better explanation for the discounts, and why a rebound may be near.

How not to run out of money in retirement

The life expectancy tables used throughout the financial advice and retirement industry have issues and you need to prepare for the possibility of living a lot longer than you might have thought. Plan accordingly.

The iron law of building wealth

The best way to lose money in markets is to chase the latest stock fad. Conversely, the best way to build wealth is by pursuing a timeless investment strategy that won’t be swayed by short-term market gyrations.

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