The ATO estimates that for 2014-15 the net individual income tax gap attributable to salary / wage earners and investors was $8.76 billion, or 6.4 percent.
The recent budget decision to invest $41 million in an Australian Space Agency, commencing 2018-19, is a modest first step for Australia, the last OECD country to establish a Space Agency for commercial purposes.
So you want to be a philanthropist. The very word often conjures up a vision of multi-million dollar bank accounts, high net worth individuals and mega corporations.
Contrary to some expectations, this week the Tax Laws Amendment (Personal Income Tax Plan) Act 2018 was passed by the Senate, and received Royal Assent.
Each Federal Budget has a narrative and a seduction. Sometimes the narrative resonates. For some budgets, there is a mismatch, rightly or wrongly.
This was a budget of few surprises. The main revenue raisers are through the black economy measures – which we welcome.
KPMG is concerned that the Budget announcements surrounding the removal of default insurance in super for people under the age of 25 will damage the overall system for relatively little benefit.
To avoid the Grinch stealing your Christmas by way of an FBT bill, here are some tips to keep in mind as we enter the silly season
For several years now, KPMG has argued that the potential changes to the tax and transfer system need to be evaluated through a prism of gender equity.
In many areas of public policy there is pressure on legislators and regulators to take action when the speed of change, often technological, has left laws far behind.