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Tax reform

Yesterday

EV owners are benefitting from the Commonwealth’s exemption from fringe benefits tax, cash subsidies from state governments, and discounts on stamp duty and registration fees

All roads lead to a tax shake up after EV ruling

The High Court’s decision banning Victoria’s electric vehicle tax has parallels to how the GST came about.

  • John Kehoe

This Month

The work on what tax policy changes need to be made in Australia has already largely been done – in 2010 by the Henry Review and in 2015 via Re-think.

Time to walk the tax reform talk

The High Court’s rejection of Victoria’s road tax and its threat to states’ revenue puts pressure on the federal government to step into the reform breach.

  • Michelle de Niese
Chris Bowen, Anthony Albanese and Ed Husic at an EV showroom. Labor is being urged to act sooner rather than later on introducing a road-user charge for EV drivers.

Make EV drivers pay or face cost-of-living backlash, Labor told

The federal government is reluctant to bring in a road-user charge for electric cars because it believes ownership rates of low-emission vehicles are still too low.

  • Jacob Greber and Gus McCubbing
Electric vehicle owner Chris Vanderstock has successfully taken the Victorian government to the High Court.

High Court’s EV decision threatens state taxes

Lawyers say the ramifications of the decision are ‘monstrous’ and could trigger a shake-up in federal-state relations.

  • Michael Pelly
Out of balance: Planned federal government laws to prevent tax evasion ignore realities of the highly-leveraged property industry, critics warn.

Developers face uncertainty on thin capitalisation rules

The federal government’s proposed laws to crack down on excessive tax deductions are not fit for purpose, industry figures and independent MPs warn.

  • Michael Bleby
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Farmers may be forced to sell property if they have to pay tax on unrealised gains in the value of their farms.

SMSFs forced to sell to cover $3m super tax: study

Farmers and small business owners were particularly likely to be forced to sell assets to finance the tax, the study shows, with 13.5 per cent of affected SMSFs too illiquid to pay the tax without sales.

  • Hannah Wootton

‘Everything should be on the table’ to ease tax burden on young

The BCA, CTA, Allegra Spender and Grattan have urged Labor to develop a tax reform agenda to stop younger workers shouldering an ever-increasing tax burden.

  • John Kehoe
Stephen Jones: deeply immersed in the insurance industry.

Labor’s franking credit changes raise bigger questions

The government’s planned changes raise a legitimate question about the long-term future of dividend imputation.

  • John Kehoe
Treasurer Jim Chalmers says the crack down on superannuation tax concessions will make the system more equitable.

‘Stubborn’ Labor offers no compromises on $3m super tax

Industry players also warned the tax will potentially hit more people than suggested, as draft laws released on Tuesday confirmed it would not be indexed.

  • Hannah Wootton
“A more responsible budget”: Jim Chalmers.

Labor pushes ahead with $3m superannuation tax

The government will release draft legislation today on its plan to crack down on tax concessions for big balance accounts.

  • Hannah Wootton

September

The changes are designed to prevent the erosion of the country’s domestic revenue base by companies claiming excessive debt deductions.

Multinational tax crackdown could spur consumer pain

The Corporate Tax Association and the Coalition say Labor failed to conduct sufficient consultation on its latest changes, leaving parts of the plan unworkable.

  • Tom McIlroy
Crossbench teals make the discoveries that political newcomers often make.

Why politics is harder than it looks

Well-meaning reformers like the teals want to impose change over the heads of the people who will be affected by it the most.

  • Jason Falinski and Tim Wilson
It would cost a further $8 billion a year to make the bottom 20 per cent of families ‘no worse off’ than before.

Australia should tax better, but bigger GST is a reform killer

The politics are cruelly complicated, and the economics are less compelling than people think.

  • Chris Richardson
The US Capitol. Joe Biden’s level of government spending on investment has not been seen from a US president for decades.

Big government is back – how will we pay for it?

Countries are spending heavily on defence, welfare and the green transition. With debt levels already high, taxes look certain to rise.

  • Emma Agyemang and Chris Giles
Labor backbencher Mike Freelander says tax reform must not be weaponised.

Tax reform must tackle rising wealth gap, warns MP

Macarthur MP Mike Freelander hit out at the weaponisation of tax reform proposals, admitting his children are paying the price for his good fortune.

  • Tom McIlroy
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Higher income earners would be the big winners.

GST rise and income tax cuts ‘help high-income earners’

A 15 per cent GST to pay for income tax cuts and more welfare payments would benefit high-income households, according to economic modelling by ANU.

  • John Kehoe
Independent MP Allegra Spender.

Tax reform too important to be hostage to party politics

That’s why I have set up a process, where economists, business leaders, unions, social and environmental leaders can come together and discuss their goals for a better tax system.

  • Allegra Spender

August

Former Treasury boss Ken Henry’s stinging “intergenerational tragedy” warning last week captured people’s attention.

The penny has finally dropped on income tax burden

There are at least three achievable ways to alleviate the intergenerational inequities in the tax system to take pressure off workers and not harm economic growth.

  • John Kehoe
Treasurer Jim Chalmers faces pressure to rework the personal income tax system

High inflation gives Chalmers cover to ditch the stage three tax cuts

Treasurer Jim Chalmers could ditch the stage three tax cuts as wage rises force lower and middle-income earners to pay more of their income in tax.

  • Karen Maley
August 29, 2023

There’s logic to the teal MPs tax reform push - just look at the IGR

Allegra Spender’s call to put a GST tax-mix switch on the table echoes calls by past treasurers Les Bury, John Howard and Paul Keating.

  • The AFR View