News & Info

In Annette Sampson’s article appearing in The Age on May 28, she covered selected items from the Federal Budget handed down on May 13, and sought Taxpayers Australia CEO, Tony Greco’s input. This is a transcript of his contribution to this article.

In Barbara Drury’s article appearing in The Age on May 28, she revisited the year-end coverage of tax claims – in particular those most frequently forgotten. The following is an extract from that article, outlining Taxpayers Australia CEO, Tony Greco’s views on some of these often over-looked items.

Tax law amendments during 2007 increased the flexibility of family trusts. Two of those measures are to be reversed: the meaning of family and the test individual one-off variation.

On the 13th May 2008, Wayne Swan handed down Labor’s first Federal budget since Ralph Willis in 1995. In the past we saw Robert Menzies’ push for the “forgotten people” followed by John Howard’s little Aussie “battler”. You may have been one of the “forgotten people” or a “battler”, but this year you were a winner if you are a “working family”.

Budget overview 2008

Government moves on same-sex discrimmination

Often when a taxpayer sells a business, they are selling goodwill and depreciating assets.

Taxpayers who are provided with shares or options in their employer company, in connection with their employment, may be in danger of getting the tax consequences completely wrong.

Superannuation guarantee (SG) compliance made simpler [MR 2008/014] On 20 March 2008 the Minister for Superannuation and Corporate Law, Senator the Hon Nick Sherry announced the introduction into Parliament of Tax Laws Amendment (2008 Measures No. 2) Bill 2008 which will provide fairer treatment for employers who make super contributions after the due date.