Tax Issues
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Superannuation fees in the spotlight
First 5000 | October 19, 2018Australians are paying up to $32 billion a year in super fund fees, up 10% from the previous year and outpacing the rate of inflation by almost four-fold.
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Check now for your share of $17.5b in lost super
First 5000 | October 13, 2018New data released by the Australian Taxation Office reveals the total amount of lost and unclaimed super was reduced by over $420 million in 2017-18 but there is still $17.5 billion waiting to be found.
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Shifty sales suppression tools outlawed
First 5000 | October 11, 2018It is now illegal to manufacture, distribute, possess, use or sell electronic sales suppression tools (ESSTs).
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A new era of payroll reporting has begun
First 5000 | September 9, 2018Single Touch Payroll reporting is off to a successful start, with around 40,000 employers already sending tax and super information from their payroll software each time they pay their employees.
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Superannuation needs deeper reforms
Julian Lorkin | August 14, 2018Changes announced to superannuation insurance are just the start of what’s needed, says UNSW Senior Lecturer Gordon Mackenzie.
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10 tax myths busted!
First 5000 | July 30, 2018Tax season is underway and to help Australians get their returns right, the Australian Taxation Office has identified the top 10 tax myths and misunderstandings it says are causing incorrect claims.
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Two clicks at tax time can sort out your super
First 5000 | July 14, 2018The Australian Taxation Office is urging all taxpayers to take a few moments to check their super while they are using ATO online services through myGov this Tax Time.
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Watch out, tax scams about!
First 5000 | July 11, 2018As Tax Time 2018 begins, the Australian Taxation Office (ATO) is warning taxpayers to be on high alert for tax-related scams.
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Why the Senate should block major company tax cuts
Joy Kyriacou | June 26, 2018Oxfam Australia’s economic policy advisor Joy Kyriacou says the proposed $65 billion hand-out for big business would make Australia the latest country to join the global race to the bottom on corporate tax rates.
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End of financial year tips for employees
First 5000 | June 26, 2018With the end of the financial year fast approaching, CPA Australia has released a series of tax tips to help the 16.3 million Australians who are required to lodge a tax return.
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Your end of financial year checklist
Stephen Barnes | June 20, 2018Stephen Barnes, business expert and author of ‘Run Your Business Better’, offers SMEs some handy tips on dealing with the end of the financial year.
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Better wages and public services should come before tax cuts
Jim Stanford | May 11, 2018The Coalition government’s 2018 budget aims to cut personal income taxes for many Australians over the next several years, however reversing the recent, and unprecedented stagnation in wage growth is the real key to improving living standards.
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Budget offers a fairer go for smaller firms
First 5000 | May 10, 2018SMEs want a ‘fair go’, a level playing field and to be left alone to get on with the job. The Small Business Ombudsman welcomes some positive steps in the budget but there were also several missed opportunities.
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The devil in the budget details
Paul Drum | May 9, 2018The third Turnbull/ Morrison budget has some big-ticket items but it’s the less headline grabbing proposals that are likely to attract the attention of the accounting and tax profession over the coming months and years.
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Tax cuts bypass people in need and threaten vital services
Cassandra Goldie | May 9, 2018More tax cuts are the wrong priority at the wrong time. They will not help the majority of people on low incomes, but will deprive governments of the ability to fund essential services and restore the budget.