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UPDATES:  The Government Economic Stimulus Package  Monday 30th March 2020: Scott Morrison today (30/03/2020) announced and pledged a A$130 billion to further save up to six million jobs.   What’s New?: The incentive is known as “Job Keeper” incentive, which eligible employers will have access to $1,500 per fortnight for each full-time or part-time staffRead more

  On Sunday 26 June, just six days before the federal election, the ALP’s Shadow Treasurer Chris Bowen unveiled the final pieces of their economic plan. I was alarmed by one piece of it, as were most, I think, of my colleagues and workmates. Mr Bowen announced they would save the government some money byRead more

If you are feeling a little battered and bruised from the announced changes in the budget regarding Superannuation, you aren’t alone. It often seems that there is no logical explanation to moves made in this area and an onlooker might be excused for thinking that the government sees the superannuation sector as the goose thatRead more

NEGATIVE LOGIC ON NEGATIVE GEARING & WORK RELATED EXPENSES Negative gearing:  In accounting the matching principle dictates that expenses must be matched against the revenues that they earned. It is one of the basic and underlying principles of accounting theory and our taxation system. The effect of the matching principle is best demonstrated by the wayRead more

NEW PRIME MINISTER: NEW TAXES ? Welcome Mr. Turnbull to the leadership position in Australia -He happens to be our 5th Prime Minister in 5 years resulting from yet another leadership spill. Whether you actually welcome Malcolm Turnbull or not is for your own political agenda – but what are his current thoughts and ideasRead more

Negative gearing escapes budget axe Negative gearing – the ability to reduce your taxable income by losses incurred by investments (particularly rental investment properties), will remain available to Australian investors beyond this budget despite recently becoming a hugely controversial issue in recent times. It is no surprise that this tax benefit hasn’t been removed. The 226Read more

What wasn’t in the 2015 budget Last week Treasurer Joe Hockey released the Federal Budget for 2015. There was a lot of commentary regarding all of the different items that were in it. Some of them I found very interesting. I also found some of the things that were not in the budget very interesting afterRead more

There has been a lot of long overdue talk recently about the Australian Tax System. Tax reform is back on the agenda, the government has issued its Discussion Paper which states the obvious, we need to fix the tax system but it doesn’t go any further in making suggestions on how this should happen. TheRead more

At the risk of being unpopular, I think Tony Abbott might be a genius. Not a Nobel Prize winning scientist type genius, more like a chess champion that lulls you into a sense that he has no strong game plan only to win at the end type genius. I first thought it when he heldRead more