Personal Income Tax

Your Travel Allowances vs Politicians’ Travel Allowances

The law allows for travel, tax and other allowances for politicians, and most people see this as being no different to other professions where employees need to travel to maximize their time and skills for the benefit of the company.  Many people need to travel as part of their job responsibilities and no one questions whether their living expense should be covered when they are away from home for business purposes.  However, one legitimate question remains unanswered: is the benefit of the permissible travel expense, as beneficial to the Australian taxpayer as it is to the parliamentary recipient?

Rental Property: 4 Deductions Under the Spot Light

It’s Tax Time! And the tax office will soon be calling on rental property owners to account for unrealistic deductions. Building Confidence is a useful webpage the Tax Office created to help landlords familiarize themselves with permissible property deductions.  Here, they focus on common irregular deductions that are often made by rental property owners, and to help them identify incorrect deductions, and become compliant, the ATO has even included case studies. Here are some of the areas under the spotlight:

Consumption Taxes in Australia and the OECD: A Comparison

The government recently issued a paper titled Re:think – Better Tax, Better Australia in which it hinted at an upward review of the goods and service tax (GST) system. This upward review will include increasing the current rate (10%) to a yet unspecified rate. The paper also hinted at a review of the items the GST will henceforth apply to.

Crackdown on Sky High Surcharges

Australian consumers can heave a sigh of relief over excessive credit card surcharges, as the government has recently passed legislation in this regard. The legislation empowers the Australian Competition and Consumer Commission (ACCC) to bring to book companies pinching customers with credit card surcharges up to 1000% over the actual cost of processing payments with credit cards.

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02
Feb2015

Welcome to my blog

Welcome to my blog

02
Nov2016

Qualifications

Recently somebody asked me how many qualifications and post nominals I had. I replied that I don’t know – I’ve lost trac...

02
Nov2016

Ben, Have you invented any new words lately?

A correspondent has asked if I have invented any new words. Indeed I have. Procreastation: The tendency to put off doing...

02
Nov2016

Ben, what is the greatest waste of taxpayers money?

Thank you for asking this important question. The greatest waste of taxpayers money in history is without doubt the new...

02
Nov2016

Ben, What is the Mac tax? Is it federal or state?

Thank you for that interesting question. The Mac tax is a tax that is imposed neither by the federal nor the state gover...