Monthly Archives: July 2014

Tax changes still outstanding… Not much left

Posted on July 21, 2014 by

According to my count there are only 23 changes to the tax and super system left for the government to do to have completed all of the outstanding announcements. And most of these 23 are BORING… Number one is to … Continue reading →

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$6,500 Immediate asset write-off stays – until 25 August

Posted on July 18, 2014 by

The mining tax is not repealed!!! The Senate has voted to keep its amendments which say you can get rid of the mining tax but all the concessions that mining tax was supposed to fund have to stay… No tax … Continue reading →

Posted in Income Tax, Legislation | Leave a comment

All animals are equal, just some are more equal than others..

Posted on July 7, 2014 by

The Commissioner of Taxation has just written to some of its staff. The letter states that the staff may get a shock when they get their payment summaries. You see, like almost every employer in Australia, the Commissioner pays allowances … Continue reading →

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Immediate Asset Write-Off Mark 2

Posted on July 7, 2014 by

I take it all back!!! Clive Palmer has just announced the instant asset write off of $6,500 stays or he wont support the repeal of the Mining Tax… Without his three Senators the proposed reduction to the instant asset write-off … Continue reading →

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Weird Taxes #345

Posted on July 6, 2014 by

In the 1st century AD, there was a specific tax on… urine. The urine from public urinals was sold to laundries. And each buyer had to pay a tax based on the volume purchased… A urine GST.

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What the Federal Government spends your taxes on…

Posted on July 1, 2014 by

So if you earn a bit over $80k in a year you end up paying about $20k in tax – this includes the medicare levy as it should as hypothecated revenue (being revenue collected for specific expenditure) cannot occur under … Continue reading →

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