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22 May 2022
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Dr Rodney Brown's article last week on taxing the rich and inequality led to a lively discussion. As a follow up, we republish Oaktree's Howard Marks on the popular 'beer' example to explain the tax system.
At some point, politicians will debate how to reduce the national debt and implement measures aimed at simultaneously easing budget pressures while reducing the gap between rich and poor. Investors should be ready.
Marginal tax brackets are not indexed for inflation, so when people receive salary increases, there is some erosion in proportional take-home pay due to higher tax. But it’s not as bad as it used to be.
The extra 15% Division 293 tax slips easily under the radar, and most people do not realise how it is calculated and how the proposed Labor policy might now capture them.
Labor's franking credit proposal will reduce the income of many retirees who do not believe they are wealthy. Here's an exchange with a reader who just wants an answer to "Is it fair?"
In his latest memo to clients, Oaktree's Howard Marks quotes the popular 'beer' example to explain the tax system, and we reproduce it here.
ETFs are popular investment vehicles but can be complex for tax returns. The ATO classifies them as trusts, and investors, administrators and accountants need to know the details.
Many people are reluctant to plan financially for their death, and it's not simply a matter of passing money to heirs. Far more tax-effective techniques are available which can make inheritance simpler.
For a pension fund with a tax rate of zero, it is better to receive an after-tax dividend of $100 than a company retaining after-tax capital of $70. Why aren't company directors asked about this tax inefficiency?
The added complexity of the new superannuation rules increases the compliance burden for investors and their advisers, and the requirements around the $1.6 million threshold are especially complex.
The 50% CGT discount has little justification during low inflation and it encourages capital gains over income. The preferable system is the indexation in effect prior to 1999, and it will help housing affordability.
Major reform of Australia's tax laws hits a hurdle when opposition builds to unpopular policies. We have lost the ability to explain and advocate for change, especially when you look at global comparisons.
Every successful fund manager suffers periods of underperformance, and investors who jump from fund to fund chasing results are likely to do badly. Selecting a manager is a long-term decision but what else?
In almost 1,000 responses, our readers differ in voting intentions versus polling of the general population, but they have little doubt who will win and there is widespread disappointment with our politics.
Conservative investors who want the greater capital security of bonds can now lock in 5% but they should stay at the higher end of credit quality. Rises in rates and defaults mean it's not as easy as it looks.
In the last decade, ETFs have become a mainstay of many portfolios, with broad market access to most asset types, as well as a wide array of sectors and themes. Is there a favourite of a CEO who oversees 30 funds?
Believe it or not, betting agencies are in the business of making money, not predicting outcomes. Is there anything we can learn from the current odds on the election results?
Single-member SMSFs face challenges where the eventual beneficiaries (or support team in the event of incapacity) will be the member’s adult children. Even worse, what happens if one or more of the children live overseas?