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Uncategorized

Its got nothing to do with tax but these numbers do my head in…

According to a recent report… You need to have wealth (house, car, super… Less debts) of $4,400AUD to be in the top 50% of the world’s adults by wealth.  To get in the top 10% of the world’s adults by wealth you need to have $94,000AUD in assets.  To be a part of the 1%, […]

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Income Tax

Why am I defending Malcolm?

As anyone who knows me knows, my political leanings are to the left (Chris Bowen for PM with Andrew Leigh as Treasurer). But I want to kick the Labor party, and especially Senator Sam, for their unprincipled “Cayman Island” tax attack on the Prime Minister. While coaching Little Athletics today I hear a Dad say […]

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Funny Stuff

Volumetric taxation

Estimates of the effective rates on excisable products in 2014–15 range from as low as $1.71 per litre of alcohol for low-strength non-commercial beer to $79.38 per litre of alcohol for spirits and ready-to-drink beverages. Estimates of the effective rates for wine range from $2.99 per litre of alcohol for a $15 four-litre cask through […]

Categories
Funny Stuff

Tax weirdness Down Under

I was recently asked by the Institute of Chartered Accountants in Scotland about weird taxes in Australia… And here was my response The seafarer’s tax offset This little present by the previous Labor government to the Maritime Union allows those who employ seafarers a 30% tax offset for the salaries they pay. The rationale for […]