Money

Tax

End the age of entitlement - for seniors

Seniors are doing better in real terms than younger people earning the same incomes.

Australia's tax system has become skewed towards a growing and apparently untouchable group of 'taxed nots' - they are older Australians who pay roughly $1 billion per year less tax than younger Australians in the same circumstances, according to a new Grattan Institute report.

Morrison softens super stance

Treasurer Scott Morrison says he is prepared to write in exemptions in the superannuation proposals.

Treasurer Scott Morrison has confirmed plans to water down some of the superannuation changes announced in the budget, but says he'll hold the line on the most important elements.

H&M; inks tax deal

H&M's empire spans more than 4000 stores across 62 countries.

Fast-fashion retailer is one of a growing number of multinationals locking in their Australian tax.

Tax cuts in limbo as Tax Office says 'no'

Bond investors are just happy to get their money back and are not worried about earning any interest

Tax cuts promised from Friday July 1 will fail to arrive for up to a year after the Tax Office confirmed it won't be changing its tax schedules to accommodate the prime minister.

How to max your tax refund

Get your tax affairs in order before toasting the new financial year.

Making sure you're financially organised is the key to ensuring you maximise your tax return and receive your refund as soon as possible.

Run for health cover before June 30

Only hospital cover counts for avoiding the Medicare Levy Surcharge or Lifetime Health Cover.

Amid the mid-year stocktake sales and car dealership runouts is a notion that it is rather important - to sort out private health insurance before June 30.

Giving clubs change face of philanthropy

Bryony Green and Sarah Wickham, co-founders of Good Mob.

Many people will make spontaneous donations to charity before the end of the financial year, but Bryony Green and others like her will be banding together for more "purposeful and planned" giving.

Make most of your tax situation

If you have children, make sure you don't accidentally go over a threshold and lose your family payments.

Many people are quick to complain about how changes to our tax system will affect them, but they won't do anything about it.

Accountants using offshore outsourcing

Many Australians are paying a premium for their tax returns but are unaware the work is being outsourced offshore.

Australian consumers are used to the offshore call centre when dealing with telcos. But would you expect your accountant to outsource your tax return to a cheap outfit overseas?