The total approximate savings from scrapping both the FTB Part B and the Schoolkids Bonus would be $5.9 billion each year. Therefore, the abolishment of Family Tax Benefit (FTB) Part B and the Schoolkids Bonus, while redesigning Family Tax Benefit Part A to reduce middle-class welfare and insulate low-income families from the former. The plan … Continue reading Redesigning Family Tax to Benefit Low Income Households
Income splitting is when double income households are able to spread their collective income over both incomes, considering you are self-employed. In order to lower each under the tax free thresholds. This means a family can gain more savings from income tax from having two incomes. The use of these arrangements are used to create … Continue reading What does income splitting mean for Australian households?
Australia is famous for minimizing tax by these two interviews of Kerry Packer and John Hewson. Firstly, Kerry Packer (17 December 1937 – 26 December 2005) was a media tycoon, who became the richest and most influential man in Australia. Owning a majority in Nine TV network and Australian Consolidated Press later merged forming Publishing … Continue reading Kerry Packer & John Hewson Interviews On Minimizing Tax & Cake GST – Australia
Now Uber (the ride-sharing private market transport service) provides the government benefits, it is now set to be legalised in Victoria following other state governments. Under new changes announced by the NSW Government, Uber and GoCatch will have their insurance premiums calculated their GPS data. “The Government has been working on this for 15 months, … Continue reading Uber GoCatch Drivers Pay More For GPS Plan
The common question that is asked of free markets, is who will build the roads? Considering there are no taxes or government. It would be more realistic for the question to be ‘who will build the potholes’, or ‘who will tax us?’ It is not a hard question to turn around on itself or answer, … Continue reading Who Will Build The Roads?
Documents leaked entitled ‘Online Platforms and the Digital Single Market’ from the European Commission and then published by the European Commission “[that] is now proposing the idea of using national ID cards to log in to online services, including Facebook, Twitter and even Uber.” (Best, 2016) With the recent changes in EU and the tax laws … Continue reading Digital Single Market
In the news, the British Government is out of pocket millions on its tax collection duties since February, surrounding VAT and corporation tax. The blame of late payment notices are being send to businesses, yet it was the HMRC’s fault in changing its bank details. “In February, the government department changed its International Bank Account … Continue reading EUROCRATS