Dick Smith says he doesn't want $500,000 in franking credits he received | Australia news

Dick Smith says he doesn’t want $500,000 in franking credits he received | Australia news

The Australian businessman Dick Smith has called for the franking credits system to be reformed after revealing he was once handed $500,000 in cash rebates in a single year. When Smith was told he would soon receive what he called “ridiculous money”, he complained to the tax office and requested that the agency close down […]

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Tax cuts and a Coalition victory are no economic nirvana. Who would have guessed? | Greg Jericho | Opinion

Tax cuts and a Coalition victory are no economic nirvana. Who would have guessed? | Greg Jericho | Opinion

This week came news via the treasurer’s Twitter account that so far “1.1 million tax returns have been lodged compared to around 600,000 at the same time last year”. He trumpeted this as evidence of the desire for tax cuts “despite Labor opposition” (so much for the ALP’s strategy of supporting the tax cuts to […]

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MyGov crashes as thousands try to submit tax returns | Australia news

MyGov crashes as thousands try to submit tax returns | Australia news

As thousands of Australians try to submit their tax returns, the main online portal for federal government services has gone down. In an outage that will also affect thousands of welfare recipients across the country, the MyGov site appeared to be unavailable on Friday morning, returning an error. The Department of Human Services said via […]

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5 things we learned from Tory leader hustings - from fox hunting to Royal Yachts

5 things we learned from Tory leader hustings – from fox hunting to Royal Yachts

There was a ring of steel – or, we should say, hay bales – for Thursday’s night’s Johnson-Hunt showdown. Boris Johnson faced Jeremy Hunt at a farming showground in Kent for the 12th of 16 hustings in the Tory leadership race. Boy, was there a queue to get in. There was no chance of protesters […]

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Boris Johnson refuses to answer if he's a good dad at brutal Tory hustings

Freeports favoured by Boris Johnson could be used to dodge tax, warned expert

Boris Johnson’s plan to build Brexit “freeports” could open to the door to money laundering, according to an expert report. The scheme could allow areas to operate outside the UK’s customs regime, meaning taxes on imports would not apply. Grimsby, Teesside and Aberdeen are among potential locations. Supporters estimate the trade zones could trigger a […]

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Income tax cuts: Labor 'concerned' but won't commit to repealing stage three yet | Australia news

Income tax cuts: Labor ‘concerned’ but won’t commit to repealing stage three yet | Australia news

The Labor frontbencher Catherine King says the party remains “concerned” about the cost of the third stage of the tax cut package, but says it is too early to commit to repealing the measure. King, who took over the infrastructure portfolio from Anthony Albanese following the 18 May election, defended Labor’s decision to back the […]

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Boris Johnson vs Jeremy Hunt: PM candidates' policies on Brexit, NHS and more

Boris Johnson vs Jeremy Hunt: PM candidates’ policies on Brexit, NHS and more

Boris Johnson and Jeremy Hunt are battling it out to be the next Prime Minister of the UK. The winner will enter 10 Downing Street on Wednesday 24 July wielding immense power over tax, the NHS, immigration – and of course Brexit . Only 160,000 Conservative Party members get a vote for our PM, and […]

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‘We didn’t change our position’: Albanese defends decision to back income tax cuts | Australia news

‘We didn’t change our position’: Albanese defends decision to back income tax cuts | Australia news

Anthony Albanese has defended Labor’s position on the government’s tax legislation as entirely consistent, despite the party voting to pass the legislation, including elements it labelled economically irresponsible. After amendments to delay the stage three 30% flat tax rate from 2024 and bring forward already legislated tax cuts failed, Labor voted to pass the government’s […]

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