Category Archives: Tax

Courts lift suppression orders on ATO whistleblower Richard Boyle’s landmark case

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Boyle took unprecedented step of invoking Australia’s whistleblower protections after exposing tax agency’s aggressive debt collecting practices in 2018

The South Australian courts have lifted suppression orders that would have stymied the media’s ability to report on a landmark case launched by tax office whistleblower Richard Boyle.

The decision, which follows an intervention by Guardian Australia, paves the way for media to more freely report on the first major test of Australia’s whistleblowing laws, which will likely have significant consequences for the protections available to others who speak out about government wrongdoing.

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Lawyer reveals dementia diagnosis after guilty verdict – as it happened

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Independent calls for PM to ‘protect’ potential Icac from government interference

The independent MP Helen Haines, has called on the prime minister to “protect” a potential federal Icac from any future government interference.

We need more detail around how it will be funded to make sure, in subsequent governments, that the powers of this commission can’t be eroded away. And we need to make sure that the broad definition of corruption can really capture anyone who attempts to improperly influence government decisions.

The other part of it that I haven’t seen, and I would like to see, is what the government plans to do to encourage a pro-integrity culture. And I haven’t seen anything about that thus far.

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Stage-three tax cuts: richest 1% of Australians will save as much as poorest 65% combined, analysis shows

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Adam Bandt says changes will ‘turbocharge’ inequality as parliamentary budget office analysis finds men will benefit the most

The richest 1% of Australians will get as much benefit from the stage-three tax cuts as the poorest 65% combined, new parliamentary budget office analysis has projected, heaping more pressure on the Albanese government to rethink its commitment to the controversial $243bn reform plan.

After the prime minister, Anthony Albanese, reaffirmed Labor stood by the tax changes on Monday, the Greens leader, Adam Bandt, again called for the Coalition-legislated tax cuts to be discussed at this week’s jobs and skills summit, warning the reforms would “turbocharge” inequality.

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Pocock urges Labor to scrap tax cuts – as it happened

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Independent senator David Pocock says circumstances have changed ‘so much’ since stage three tax cuts policy was legislated. This blog is now closed

McManus: normal part of bargaining to have industrial action as a last resort

McManus is asked if she wants workers in specific business to regain the right to strike in support of workers in other business (otherwise known as sympathy strikes or solidarity action).

Not in support of workers in another business – together. It is a normal part of bargaining to have … as a last resort, to take industrial action, and that is what happens in countries that have multi-employer bargaining, and there [are] not more strikes, there is more pay rises.

Essentially when workers have an option to do that, obviously it means the option to have a better outcome, and a better outcome more quickly.

Basically, workers’ bargaining power has been smashed over that period of time That’s why we have a problem, a huge problem, with wages growth and unless we address that issue, that is not going to change.

We think [sector-wide bargaining] should be open to all, but obviously a lot of places … they are getting pay rises at the moment. They can access the bargaining system.

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Liz Truss ponders VAT cut of 5 percentage points amid cost of living crisis

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Tory leadership frontrunner understood to have discussed move, with final decision coming after contest ends

Liz Truss is considering whether to reduce VAT by five percentage points across the board, which could save families £1,300 a year, it was reported.

The foreign secretary is understood to have discussed the move with her advisers but no final decisions will be taken until the Conservative leadership contest concludes on 5 September, according to the Sunday Telegraph.

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Australia’s highest and lowest income suburbs: how does your postcode compare?

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Western Australia’s Cottesloe and Peppermint Grove the top-earning area while five of the lowest are in regional NSW

Australia’s highest and lowest income suburbs have been revealed in new data released by the Australian Taxation Office.

The data, based on nearly 15m tax returns from 2019-20, reveals the median income and super balances of Australians in each postcode across the country.

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Prosecutors seek suppression orders in case against tax office whistleblower Richard Boyle

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Adelaide-based public servant blew the whistle on the use of garnishee notices to claw back debts from taxpayers

Commonwealth prosecutors are seeking suppression orders in the case of former tax office worker Richard Boyle.

Boyle blew the whistle in 2018 on the Australian Taxation Office’s aggressive use of garnishee notices to claw back debts from taxpayers and businesses.

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Sunak scorns Truss’s claims that tax cuts can avert recession

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Tory leadership rivals disagree on how to turn economy around and avoid predicted downturn in Sky news debate

Liz Truss has claimed her tax cut plans could avert the looming recession, after the Bank of England forecast 13% inflation and a downturn lasting more than a year.

In a televised leadership interview, the foreign secretary was challenged about gloomy projections made by the Bank on Thursday, as it increased interest rates by 0.5 percentage points.

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Thatcher ministers turn on Liz Truss over tax cut plans

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Chris Patten, Norman Lamont and Malcolm Rifkind warn former PM would never have approved borrowing to fund £30bn cuts

Tory grandees who served in Margaret Thatcher’s final cabinet have warned that the former prime minister would never have approved of Liz Truss’s plan to slash £30bn off taxes funded by borrowing, as Rishi Sunak denounced his opponent’s plans as “immoral”.

With a bitter row over tax emerging as the defining issue in the race to succeed Boris Johnson, three members of Thatcher’s cabinet told the Observer that she would have taken a dim view of slashing taxes at a time of high inflation.This follows repeated claims that Truss has attempted to model herself on Thatcher in her attempt to win the leadership, which she has denied.

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Nobel prize-winning economist Joseph Stiglitz calls for windfall profits tax in Australia

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Tax is a ‘no-brainer’ after companies’ huge profits during Covid but corporate influence makes it ‘politically difficult’, Stiglitz says

The Nobel prize-winning economist Joseph Stiglitz has called for a windfall profits tax, arguing the idea is a “no-brainer” that has been taken off the table due to the influence of big companies.

Stiglitz made the comments to reporters during a tour of Australia after personally lobbying the treasurer, Jim Chalmers, to introduce the tax and warning that excessive interest rate rises could push Europe, the US, and then Australia into recession.

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Labour challenges Nadhim Zahawi over tax and £26m business loan

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Shadow minister Pat McFadden seeks answers about chancellor and offshore family firm, and £26m loan his firm spent on property

The shadow treasury minister, Pat McFadden, has written to Nadhim Zahawi, challenging him to provide more clarity about his tax and financial affairs.

Since becoming chancellor after Rishi Sunak resigned earlier this month, Zahawi has faced persistent questions about his relationship to a Gibraltar-based firm, Balshore Investment, controlled by his parents.

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Eight MPs make it on to first Tory leadership ballot as Sajid Javid pulls out of the race – live

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Kemi Badenoch, Suella Braverman, Jeremy Hunt, Penny Mordaunt, Rishi Sunak, Liz Truss, Tom Tugendhat and Nadhim Zahawi garner enough support

Jacob Rees-Mogg, the Brexit opportunities minister, and Nadine Dorries, the culture secretary, have just told Sky News that they are backing Liz Truss for the Tory leadership.

Rees-Mogg says Truss had been his strongest supporter in cabinet in terms of seeking Brexit opportunities. He went on:

When we discussed taxation, Liz was always opposed to Rishi’s higher taxes. That again is proper Conservatism. And I think she’s got the character to lead the party and the nation.

Liz Truss is the best candidate. She’s a proper Eurosceptic. She will deliver for the voters. She’ll deliver for the voters. She believes in low taxation.

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Australian Taxation Office crackdown on family trust rorts causes alarm among tax advisers

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ATO gives example of child being given $180,000 then repaying it to parents for cost of bringing them up as going against community expectations

A crackdown by the Australian Taxation Office on rorts involving family trusts has drawn alarm from some advisers as some of the practices under the microscope have become common practice.

Tax advisers are also concerned at the prospect the ATO will be examining the past behaviour of family trusts, raising the prospect of bills for back taxes, inflated by years of interest and penalties.

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Queen’s ‘seabed rights’ swell to value of £5bn after auction of plots

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British crown estate portfolio rises in value by 8.3% to £15.6bn

The value of rights owned by the Queen’s property company to exploit the seabed around Britain’s coastline has swelled to £5bn after a record-breaking auction of plots for offshore windfarms.

Profits for the crown estate, which generates money for the Treasury and the royal family, jumped by £43.4m to £312.7m in the year to the end of March.

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Senior Tory MPs renew calls to Boris Johnson for urgent tax cuts

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High-profile MPs back demand from Adam Smith Institute to reduce tax burden and ease cost of living crisis

Senior Conservatives from across the party have renewed calls for Boris Johnson to implement urgent tax cuts as Downing Street played down the prospects of a shift in policy.

A string of high-profile MPs, from Steve Baker on the party’s right wing to Damian Green on its left, have backed a fresh demand from the Adam Smith Institute for the government to reduce the tax burden.

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Pacific nations ‘very positive’ on re-engagement, PM says – as it happened

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Bushmaster reportedly destroyed in fighting in Ukraine; nation records 30 Covid deaths. This blog is now closed

Finance minister Katy Gallagher is speaking now to ABC Insiders host David Speers. She says Labor faces “a very serious set of economic and budget challenges, and we don’t want to pretend it is anything but that”.

Q: Are you saying that the figures that were produced showing deficits totalling $224bn over the next four years – were they accurate or not?

Well, they are certainly the numbers that the finance department and the Treasury signed off on in the election campaign, but I think the point we are making is that there is a range of spending that we are having a look at in the budget and there is also clearly some huge budget pressures coming.

I guess in those areas – health, aged care, the NDIS, defence, national security – where there are all of them growing faster than GDP and going to play significant pressure on the budget going forward …

I haven’t had many moments to reflect, I’ve got to say ... it’s been a busy time. But I do understand the great responsibility that I have – I’m humbled by it. It says a lot about our great country that the son of a single mum, who was an invalid pensioner living in council housing, can rise to lead the country as prime minister and I’ll never take it for granted. I’ll honour it every day and I’ll do my best. That’s not to say I’ll be perfect, because none of us are, but I’ll try to keep it real on the way through and continue to keep my feet on the ground, because I think that is really important as well.

Australians are generous people and I think that they’ll give us a go. I get the sense out there that they want us to succeed. And I had people who didn’t vote for us as well, who said to me, we really want you to succeed for the sake of the country. So we’ll do our best.

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Rishi Sunak hints at U-turn on UK oil and gas windfall tax

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The chancellor says nothing is off the table but fellow Tory ministers remain dismissive of idea

Rishi Sunak has opened the door to a windfall tax on oil and gas companies despite previously dismissing the policy, as Labour accused the government of burying its head in the sand over spiralling bills.

The chancellor hinted at a possible U-turn on a tax on oil and gas providers, after repeatedly refusing to countenance the idea in the past when suggested by Labour and the Lib Dems.

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UK politics: Starmer accuses Sunak of taxation ‘hypocrisy’ – as it happened

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This live blog is now closed. You can see some of our latest politics stories below:

At the Downing Street lobby briefing the No 10 spokesperson confirmed that Lord Geidt, the independent adviser on ministerial standards, would be conducting an inquiry into Rishi Sunak’s declarations of interest. Sunak requested one last night – but Geidt is only allowed to launch an inquiry with the permission of the PM, which has now been given.

But the spokesperson was unable to confirm that the inquiry would cover Sunak’s decision to retain his US green card after he became a minister, and even while he was chancellor. It is reported that he only gave it up last October.

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National insurance rise forces UK employers to shoulder £9bn tax burden

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Bosses say 1.25-point rise heaps pressure on firms already enduring soaring costs linked to Covid and Brexit

Britain’s employers are being forced to shoulder a £9bn tax rise after the government pushed ahead with raising national insurance on Wednesday despite stiff opposition.

Company bosses said the 1.25-percentage-point rise in national insurance contributions (NICs), which is paid by workers and their employers, would add to already severe pressure from runaway inflation and soaring business costs this year linked to Covid, Brexit and Russia’s war in Ukraine.

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Labor has no plans to increase taxes on Australians if elected, Jim Chalmers says

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Shadow treasurer moves to make Labor policy crystal clear after Coalition seizes on ambiguity in Anthony Albanese’s comments

Labor has no plans to increase taxes on Australians and will look to lift foreign aid if elected in May, the shadow treasurer, Jim Chalmers, has said.

The senior frontbencher said on Sunday that federal Labor’s only tax proposal was to crack down on multinational tax avoidance.

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