Fewer Victorian private schools will lose their longstanding payroll tax exemption than first thought, with the fee threshold to be increased. The 2023/24 state budget forecast about 110 non-government schools would lose the exemption from mid-2024, raising $422.2 million (US$280 million) for the state across the next four years. Peak bodies for independent and religious schools…
Labor’s Landmark Tax Reversals Are Welcome, but Budget Deficits Now Look Enshrined
Commentary Sidelined by this week’s news of gold medals in Tokyo, and an expanding COVID-19 outbreak in Sydney, was the Australian Labor Party’s announcement they would no longer look at proposed tax increases if successful in next year’s bid for government. This is a stunning reversal of Labor’s stance at the 2019 election and a…
$12 Billion in Tax Cuts to Drive Australian Economy
March 16, 2021
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Working Australians are expected to see $12 billion worth of tax cuts go into their pockets in the next six months as the federal government moves on from JobKeeper to other economic support policies. Treasurer Josh Frydenberg said the data shows around 8.8 million Australians had already benefitted from $9 billion in tax cuts from…
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