The S&P/ASX 200 jumped 1.2 percent to close at 8552.7, breaking a two-day slump that had wiped billions from local valuations and rattled confidence among investors concerned that tech stocks had surged too far, too fast. Technology companies led the…
New findings from Foodbank Australia reveal a deepening food insecurity crisis, prompting renewed calls for the Federal Government to introduce a National Food Donation Tax Incentive. The Hunger Report shows that food insecurity is no longer confined to low-income households.…
The original idea aimed to double the tax rate on earnings from super balances over $3 million. This was designed to limit generous tax breaks that mainly benefit high-income earners. While only about 80,000 Australians currently have accounts above that…
The move has drawn comparisons to the ATO’s controversial 2023 “robotax” initiative, which was suspended following public backlash. Under this new campaign, some Australians have discovered previously unseen debts appearing on their online tax portals, in some cases dating as…
The ATO will automatically reduce your outstanding HECS or HELP debt by 20 percent. This applies to all borrowers with active student loans, backdated to 1 June 2025. Any indexation applied to your debt will also be adjusted. You don’t…
Recent rulings show that breaches of the Fair Work Act or payroll obligations can have enormous financial consequences. With major corporations paying hundreds of millions of dollars in remediation costs and record fines for unlawful actions, the message is clear:…
Australians are being reminded that the deadline to lodge their tax return for the last financial year is quickly approaching, with penalties in place for those who miss the cut-off. Individuals choosing to lodge their own return must do so…
This avoidance can add unnecessary stress, particularly during a cost-of-living crisis, when people are already under pressure. There are several reasons why preparing a tax return can feel overwhelming. Some worry about making mistakes or owing money to the Australian…
A growing number of taxpayers are being caught out for incorrectly claiming an exemption, leaving them with unexpected tax bills and interest charges. The Medicare Levy Surcharge applies to higher-income earners who do not hold the appropriate level of private…
These reforms are set to simplify tax reporting for individuals and provide modest savings, particularly for lower-income earners. Beginning 1 July 2026, Australians can claim a standard $1,000 deduction for work-related expenses. This initiative is designed to streamline the tax…