We want to give these businesses their best chance of survival to keep people in a job, so the government is allowing them to offset losses against taxes they paid on previous profits. Normally, a business would only get to use these accumulated losses when they are profitable again in the future.
Fourth, research and development, where the government is providing $2 billion of additional tax incentives to encourage small and large businesses to undertake this important work and to create the jobs of the future. Starting from mid next year, businesses with a turnover of under $20 million will receive a refundable tax offset equivalent to 43.5 cents with no cap on the size of the cash refund. This means that a start-up business which is yet to turn a profit will get paid 43.5 cents for every dollar they spend on eligible research and development.
Source: News Formal (newsformal.com)
JoshFrydenberg Ah Joshy......OUR SAVIOUR 💕
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Tweaking tax system will secure economy amid harsh conditionsThe Coalition's changes to the tax system are designed to create jobs, boost investment and encourage research and development. JoshFrydenberg 1RossGittins New chart pack from RBA shows ScottMorrisonMP 's claim Covid is 45 times worse than GFC (caused by 1st phase of peak oil which started in 2005) is not based on relevant statistics. Yes, it's bad but as of 2Q 2020 the factors seems to be 2-4 JoshFrydenberg Like shit it will! JoshFrydenberg SMH has become a Courier Mail clone
Source: smh - 🏆 6. / 80 Read more »
Some planets 'better for life than Earth'Scientists have identified 24 "superhabitable" planets outside our solar system that may have conditions more suitable for life than Earth. Book me in for an indefinite stay. Go on ... given the shit show we've done with this one, I'm interested Taxi!
Source: 9NewsAUS - 🏆 10. / 72 Read more »
Federal budget 2020: Tax cuts for high income earners slammedThe government claims controversial tax cuts included in Tuesday’s Budget will save the Aussie economy – but critics say it will do little more than reward the rich. In fact the tax cuts apply to more than 11 million people - not just 'wealthy Aussies'. Federal government throws money at the wealthy And gives the scraps to the Taxpayers What did you listen to a differt budget to me?
Source: newscomauHQ - 🏆 9. / 77 Read more »
Tax cuts more about popularity than digging economy out of recessionOpinion: There are many worthwhile measures in the budget but a number of key measures will do little to help the recovery | 1RossGittins 1RossGittins A lot of wealthy and relatively wealthy people will pay off their houses faster. 1RossGittins WHY are tax cuts popular? If media did job and explained why they are useless and not helping our country instead supporting the lies and rhetoric maybe they wouldn't be. But you don't because Murdoch prevails 1RossGittins Budget : If you’re middle aged and have lost your job. The rest of Australia just goes “meh, as long as we’re okay “
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Tax cuts more about popularity than digging economy out of recession.JoshFrydenberg had no choice but to spend big. But has all the money added to the nation’s debt been chosen to deliver the greatest possible gain in jobs? No. That’s the problem with the 2020 federalbudget, writes Ross Gittins. | OPINION auspol fedpol JoshFrydenberg Pack or arses...more than half the people on jobseeker (people older than 35) have been left out in the cold with no incentive for business to employ within this age bracket. Yet this age bracket have children, rent food etc. The risk of family homelessness just increased 100x JoshFrydenberg I agree but tax cuts don’t put much back in the pocket for low to middle income earners only to the high end who don’t need that extra 200 a week. The lower and middle can do a lot with that extra money and it would go back to the economy as would an increase in the pension. JoshFrydenberg We have a huge vacuum in the trade based occupations and the associated training. Immigration doesn't solve the problem as nearly all countries do not meet Australian standards. Bring back TAFE colleges teaching relevant skills.
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Federal budget 2020 LIVE updates: Josh Frydenberg delivers historic budget to AustraliaTax cuts will be delivered to 11.5 million workers within weeks in a $17.8 billion plan, as part of the federal budget, to jolt the economy out of recession It’s still a pig 🤷🏻♂️ Save it. Don’t spend. And don’t believe the narrative that debt is ok.
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