deadline is looming, and Aussies are urged to get their books in order to avoid getting hit by a a hefty late fine.
People who don't lodge in time can be fined $222 every 28 days, up to five times, depending on how overdue their returns are.This means serious latecomers can expect a maximum penalty of $1110. "In addition, where a penalty is applied, the ATO will sometimes remit it where it is 'fair and reasonable to do so', for example in the event of natural disaster or serious illness."Chapman said everybody who earned more than $18,200 - the tax-free threshold - was obliged to lodge a return.
Not paying tax when you have these governments handing out 3k bonuses to teachers who are on the books but don’t actually teach. “Inflation” Mcgowan throwing cash around like he’s won lotto.
People love going to work to give the government money to push woke progressive policies 😀
Tax for Ukraine…
Then what does Google, Apple, etc owe by now? 😄
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Chalmers could axe stage three tax cuts ‘as early as October budget’Sky News Political Editor Andrew Clennell says Treasurer Jim Chalmers may make changes to the stage three tax cuts planned by the previous Morrison government. “He was never keen on these stage three tax cuts, taking them to the election in Opposition,” he told Sky News Australia. Mr Clennell said the then shadow cabinet then took the stage three tax cuts – which would eliminate the 37 per cent tax bracket and allow those earning between $140,000 to $200,000 to pay 30 per cent tax – to the election. “You can see the stakes here if the government dumps these – they won’t dump them, but if they amend them,” he said. “It could happen as early as this October budget from what we saw earlier.” Let's hope so.. People on 200 grand a year don't need a tax cut. Chalmers an incompetent dunderhead
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Scrap them, save them or tweak them: economists weigh up stage three tax cutsThe tax cuts are due to come in on July 1, 2024. But what is their intended purpose, and can the country afford them? rachelclun Cuts must be stopped. Rich richer and Poor poorer will be the only outcome. You can forget about trickle-down economics as it simply doesn't work rachelclun There are billions in subsidies given to fossil fuel companies each year and these companies pump their profits off shore and pay no tax. Maybe focus on those rather than focusing on the tax cuts for individual Australians auspol rachelclun Higher income earners need to move to jurisdictions that treat them better.
Source: smh - 🏆 6. / 80 Read more »
Treasurer says he will ‘put the economics before the politics’ on stage three tax cutsThe shock to the British government’s tax cut catastrophe has strengthened the case within cabinet to reconsider the high-wage package. CroweDM They can’t be trusted. Let’s be clear. It was an iron clad promise to make the cuts. Not a promise that involved a “as long as the macro situation allows it” position. It’s not as if the volatile global situation wasn’t a known. Still waiting on the power bill reduction as well? CroweDM Follow BFBT_ for news on spying and terrorism. We tweet daily. PeopleWatching CroweDM No, you put your PM’s word & integrity first! AlboMP promised to uphold the stage3taxcuts! He wouldn’t go back on his word! It’s time we saw more politicians like Albo honour their word and bring back integrity into our political system. This is a modest tax cut for aussies!
Source: smh - 🏆 6. / 80 Read more »
Tories ‘completely lost’ after Truss tax U-turn, says Alexander DownerBritain’s new prime minister Liz Truss will lead the Tories to a loss because she has turned her back on conservative economics and the party has lost its way, Alexander Downer says. | latikambourke latikambourke Does Alexander really think she’ll still be PM by the time they go to General Election? Surely she’ll be gone well before Christmas? latikambourke So much for being Thatcher 2.0 Christ almighty, are we really still asking Alexander Downer for his thoughts?!
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UK government retract tax cut planThe UK government has been forced into an embarrassing retraction after announcing it will not go ahead with its planned tax cuts for top income earners. UK Chancellor Kwasi Kwarteng admitted the Tories' tax-cutting agenda caused some turbulence in financial markets but ultimately doubled down on the rest of the economic plan. 'We will get Britain moving, we will deliver lower taxes for you and your family and we will grow our economy,' Mr Kwarteng said. UK Business and Energy Secretary Jacob Rees-Mogg says “it’s a recognition of political reality”. “The overwhelming reaction had been unsympathetic and governments have to deal with political reality – that governments can’t march into too strong a headwind,” Mr Rees-Mogg said. Better to have a moment of embarrassment and correct a gross error than go through with and cause misery for millions.
Source: SkyNewsAust - 🏆 7. / 78 Read more »