An election budget looms Tuesday, surely chock with goodies. Is your marginal rate what you think it is? There are really eleven tax brackets, not fourRead More
Author: Michael West
The Big Four, the relentless architects of global tax avoidance, have returned to the insolvency business, despite selling out of it 15 years ago because of overweening conflicts of interests.Read More
Mar 24, 2019 | Business
“Thanks for your enquiry. Australian Unity declines to comment to (sic) your enquiry or respond to the report you refer to (sic)”.Read More
Julian Burnside has locked horns with Treasurer Josh Frydenberg over Liberal Party donations and the Treasurer approving the sale of 43 Australian hospitals, subsidised by taxpayers, to a company in the Cayman Islands tax haven.Read More
John: So, where do franking credits come from?
Peter: The ATO, that’s where franking credits are born … think about franking credits like a gift voucher.
Mar 18, 2019 | Government
The explosion in government spending which suddenly ramped up last May will leave the incoming government buried in debt but worse, it will leave whoever wins the impending federal election tied to billions of dollars in spending commitments which never went to tender.Read More
Mar 15, 2019 | Markets
“Blooms of mould and lead paint … infestations of snakes and cockroaches and dangerously faulty window screens”.
Lendlease has come under fire in the US
Mar 15, 2019 | Tax
Virgin Australia founder Sir Richard Branson actually resides in a tax haven. He even has his own island, Necker Island, in the infamous archipelago of tax secrecy, the British Virgin Islands.Read More
The Kitchen Table: Penny the pensioner pays the kids’ private school fees with her franking credits pension
Brenda: So the government would give me $6,478 if I stopped working and owned shares instead.
Peter: Seeing that the dole is $14,305, you’d nearly be getting half the dole, Mum.
John: Didn’t Kelly O’Dwyer put some sort of limit on how much you could end up with in your super fund?
Peter: Yes. She capped it at $1.6 million. From 1 July 2017.
John: $1.6 million? How many years is that going to take if you’re only allowed to put in $25,000 a year?
Peter: Sixty-four years Dad.Read More
Mar 4, 2019 | Government
I don’t know of any Australian election since the democratic reforms of the late nineteenth century, that was so directly, so openly, so brazenly influenced by large corporate interestsRead More
Feb 27, 2019 | Markets
The world’s largest exchanges group, the Chicago Mercantile Exchange (CME), is poised to begin operating in Australia’s financial markets via a deal with emerging futures exchange FEX Global.Read More
Feb 27, 2019 | Finance
Premier Gladys Berejiklian cut the ribbon at the Northern Beaches Hospital on a Monday afternoon last November. Hours later, the hospital’s anaesthetists were demanding the private operator Healthscope fix staff shortages, equipment shortages, drug shortages.Read More
Barack Obama once described it as “either this is the largest building in the world or the largest tax scam in the world”. That was in 2009. The building was Ugland House in George Town on the Caribbean island of Gran Cayman.Read More
John: Our paymaster says we’ve got to get onto the “John Howard offset”. That’s the one that really pays out.
Peter: It’s the big one … it’s not like all the other offsets, this one is the only one you might be able to get in cash.
Is yet another suite of essential Australian assets headed off to a tax haven? Michael West reports on the takeover of private hospital operator Healthscope and its Caribbean-connected suitors.Read More
Jan 19, 2019 | Business
They were tripping over it, diving through it, springing in the air above it to make spectacular catches; the bet365 ad that is, the ad which doubled as a boundary rope at the Test Cricket this year.Read More
Jan 17, 2019 | Tax
An OECD claim that Australia has the world’s third highest effective marginal corporate tax rate made a great headline and pleased the federal government no end. Too bad it is seriously flawedRead More
Jan 10, 2019 | Tax
The minute the government brings in new tax laws, the Big Four accounting firms get cracking on the loopholes for their multinational clients.Read More
Independent journalism needs your support. Share on social media, submit comments. Subscribe today for free updates. Community support is vital for this project to succeed.