Explore

Source: Emmanuel Saez and Gabriel Zucman • Note: Tax rates shown include levies paid at all levels of government. Government transfers such as Social Security benefits have not been subtracted. In the 1960s, the 400 richest Americans paid more than half of their income in taxes.Higher tax rates for the wealthy kept ...

New York and other states are using AI-generated letters to challenge wealthy remote workers who are avoiding paying taxes.

Treasurer offers more detail on forthcoming Future Made in Australia plan after concerns raised by productivity commissionerGet our morning and afternoon news emails, free app or daily news podcastTax breaks and subsidies may be offered to industry as part of the government’s yet-to-be-detailed Future Made in Australia plan – but Jim Chalmers says there will be “strict tests” on public funding for the green...

Dozens of flights cancelled at Sydney airport and drivers told to avoid non-essential travel as inland low and coastal trough combine. This blog is now closedBruce Lehrmann defamation trial live: watch and follow the latest newsBoM weather radar: track the path of the storms and latest updates and warnings for NSW and QueenslandGet our morning and afternoon news emails, free app or daily news...

This blog is now closedAs part of the latest Aukus developments, Australia will send A$4.6bn to the UK to clear bottlenecks at the Rolls-Royce nuclear reactor production line.Richard Marles was asked why it costs so much, and why this component needs to be done in the UK. He told ABC News Breakfast:We made clear a year ago that we wouldn’t be building the nuclear...

This blog is now closed.Coalition warned political point-scoring on Kevin Rudd’s US appointment not in national interestGet our morning and afternoon news emails, free app or daily news podcastExpect to hear a lot more on this today:Southern Australia could face gas shortages during “extreme peak demand days” from 2025 as Bass Strait supplies dwindle, the Australian Energy Market Operator has said. Continue reading...

Tesla, the company helmed by one of the richest men on the planet, is a cheapskate when it comes to paying taxes, according to a new report released on Wednesday. In fact, the company paid exactly $0 in federal income taxes over a five-year period and even managed to get a nice refund.The data on Tesla’s tax bills c...

First-year vehicle excise duty is a fraction of that in countries such as France and the NetherlandsLow taxation on petrol SUVs in the UK compared with much of Europe is inviting a glut of large, polluting luxury cars, according to an analysis by a green thinktank.The tax paid when buying a new petrol or diesel SUV in the UK is only a fraction of...

A pair of U.S. Internal Revenue Service agents are attempting to interview a billionaire they suspect of cheating on his taxes. But across the table from the agents is a formidable entourage of esteemed tax professionals hired to defend the billionaire. They include white-shoe attorneys — each of whom knows more abo...

This blog is now closed.Icac findings against Gladys Berejiklian based on ‘depressing and unrealistic view of life’, lawyer saysGet our morning and afternoon news emails, free app or daily news podcastParliamentary sparkies walk off job in pay protestParliament House electricians and tradies are walking off the job for 24-hours today in protest of their wages.I would say to the government, if not, why not?...

Companies can receive tax deductions for maintaining a private jet. The IRS will ensure they don't wrongly claim personal travel as business trips.

Chris Jordan tells National Press Club the ATO is legally obliged to recoup historical debts affecting up to 1.8 million taxpayersFollow our Australia news live blog for latest updatesGet our morning and afternoon news emails, free app or daily news podcastThe Australian Taxation Office’s outgoing commissioner says a decision to wipe more than $15bn in decades-old debts affecting up to 1.8 million taxpayers is...

Details about leader’s finances for 2022-23 come after Rishi Sunak revealed he paid more than £508,000 of tax on £2.2m plusKeir Starmer paid £99,431 in UK tax on earnings of £404,030 last year, according to a summary released by the Labour party.The Labour leader’s tax summary for 2022-23 was published a week after Rishi Sunak’s, which revealed the prime minister paid more than £508,208...

Prime minister says the opposition wants to ‘wind back any reforms that are in the interests of working people’Follow our Australia news live blog for latest updatesGet our morning and afternoon news emails, free app or daily news podcastThe opposition leader, Peter Dutton, has foreshadowed an election fight on the government’s right-to-disconnect legislation, saying he would overturn the laws if elected.Workers will soon have...

This blog is now closed.Wong signals Labor wants to resume UN agency funding to ensure ‘fewer children are starving’ in GazaGet our morning and afternoon news emails, free app or daily news podcastThe prime minister, Anthony Albanese, is speaking to ABC RN, and says news that the inflation rate has plunged to a two-year low of 4.1% is “welcoming, encouraging progress”.… We know that...

The latest ranking of revenue foregone shows the usual suspects topping the listGet our morning and afternoon news emails, free app or daily news podcastConcessions for superannuation cost the federal budget almost $50bn a year while rental deductions, much of them for negative gearing, have jumped by more than half in three years, the annual treasury summary of tax expenditures shows.The ranking of revenue...

This blog is now closedQueensland man charged with murder of Kowanyama woman he told inquest went ‘walkabout’ 11 years agoGet our morning and afternoon news emails, free app or daily news podcastUpdate on Queensland floodingSenior BoM meteorologist Angus Hines spoke to ABC News Breakfast just earlier to provide an update on the rain and flooding in Queensland.Last night the rainfall totals were between 50mm...

Jeremy Hunt targets further reduction in ‘jobs tax’ in March budgetThe government is considering handing workers another tax cut with a further reduction in national insurance, amid desperate attempts to move on from a campaign to destabilise Rishi Sunak by the Tory right.With frustration within the cabinet that the Conservative party has been unable to free itself from internal warring over Sunak’s immigration plans...

Key senator calls for broader tax reform, while arguing changes to stage-three plan could fund increases to jobseeker and other paymentsGet our morning and afternoon news emails, free app or daily news podcastThe independent senator David Pocock has called on the Albanese government to use $28bn of savings from its new tax-cuts package to increase welfare payments and urged Labor to trim other tax...

Anthony Albanese rejects calls for a fresh election by the opposition leader who continues to accuse the PM of breaking a promiseGet our morning and afternoon news emails, free app or daily news podcastPeter Dutton has refused to commit the opposition to an official position on Labor’s amended stage-three tax cuts, as the government begins negotiations with the Greens and key independents.Anthony Albanese said...

This blog is now closed. Check the path of the storm towards Townsville with the BoM radar and forecast tracker mapTropical Cyclone Kirrily upgraded to ‘severe’ category three storm as it approaches Queensland coastPeter Dutton calls for election over ‘very significant change’ to stage-three tax cutsGet our morning and afternoon news emails, free app or daily news podcastAs we flagged just earlier, wind gusts...

RBA hasn’t modelled whether Albanese government’s redistribution of tax cuts could add to inflation, but isn’t expected to adjust its forecastsFollow our Australia news live blog for latest updatesGet our morning and afternoon news emails, free app or daily news podcastTreasury has estimated the redesigned stage three tax cuts would add just 0.1 percentage point or less to annual price increases – too small...

Anthony Albanese concedes Labor has changed tax policy but says he had a ‘responsibility to act’ given cost-of-living pressuresGet our morning and afternoon news emails, free app or daily news podcastThe opposition leader, Peter Dutton, has demanded Anthony Albanese call an election to win a fresh mandate for the revamped income tax plan because it is a “significant change” to stage-three cuts that favoured...

Hunt draws comparisons with Thatcher’s tax-slashing chancellor as he claims UK is ready for economic boomJeremy Hunt has compared himself to former tax-cutting chancellor Nigel Lawson, as he joined Rishi Sunak in teasing further potential cuts in the spring budget.Writing in the Mail on Sunday, the chancellor drew comparisons with the late Lawson, who was known for slashing personal taxation while serving in the...