TaxRambling.com

The Rants of a Tax Nerd

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A home for tax nerds.

Hi, I’m Ken. Being a stay at home Dad to two amazing boys and one awesome wife is wonderful, but it does keep me away from my fourth love – TAX. So here I write on what is happening in tax that exits me, and hopefully it will excite you as well…

Boosts are back

In its pre election budget, the previous Government announced two “boosts”… A skills and training boost and a technology investment boost. Well it looks like the new government has decided to continue with these as the Treasury has released draft legislation for both the skills and training boost and a technology investment boost. Technology investment […]

What is a fair share of tax

from Taxation Statistics 2020… In the 2020 tax year, there were 15,000,000 individuals that lodged tax returns, with net tax of $225 billion. 3% of these individuals who lodged tax returns (445,000 people) who had the highest incomes paid 29% of all of this tax (over $65 billion) 9% of these individuals who lodged tax […]

Electric Vehicles exemption from FBT – even if salary packaged

The new Government has introduced a Bill that states that employers are exempt from FBT for car fringe benefits involving cars that are eligible zero or low emissions vehicles made available to employees. To be eligible for the exemption the value of the car at the first retail sale must be below the luxury car […]

Crypto not taxed as foreign currency

We just got our first tax announcement from the new Labor Government. The Treasurer, in a media release, stated that crypto currencies will continue to be excluded from foreign currency tax arrangements under this Government and capital gains tax will continue to apply to crypto assets that are held as investments. This treatment will be […]

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