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Tax Breaks for Big Business

Every time I have a conversation about tax policy someone always tells me that before I make the changes I want I have to “stop all the tax breaks for big business”. So what are these “tax breaks for big business” that I need to get rid of first? Fortunately, each year the Government releases […]

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Fairfax journalist spinning a tax story again…

Why do Fairfax journalist have to exaggerate every tax story they have to push their ideology? Peter Martin is at it again today when he writes…  Revealed: how the Tax Commissioner was leant on to deliver high-end tax cuts Mr Martin again is going to show us how the current Government is a friend of […]

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What has happened to ATO Interpretative Decisions?

According to the Commissioner, an ATOID is a “summarised version of a decision we have made on the application of the law to a particular situation.” (See PSLA 2001/8) These have been around since 2001 and have been an amazing insight into the types of private rulings that the Commissioner has been giving to specific […]

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One of many or just one…

This one is for my Quantity Surveyor friends who love to put together depreciation schedules… The Commissioner has released a draft Taxation Ruling that considers whether a composite item is itself a depreciating asset or whether its components are separate depreciating assets. And this is a great question. How far down do we break something […]

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Excuses, excuses…

These are the best 10 excuses for not lodging an individual tax return given to the UK Revenue and Customs in 2016: My tax return was on my yacht, which caught fire. A wasp in my car caused me to have an accident and my tax return, which was inside, was destroyed. My wife helps […]

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The End of Salary Packaged Super

From 1 July 2017 I cannot understand why anyone would salary package super in addition to the 9.5% SG their employer is required to pay for them. Now I am not saying that it is not worth using up an employee’s entire $25,000 concessional cap (2017/18 cap amount), but I am saying you are crazy […]