Australian wine makers are calling for the current tax rebate they receive to be untouched in the face of possible alcoholic beverage tax reform. The way alcoholic beverages are taxed in Australia is currently under review by the Australian Treasury’s Secretary Ken Henry. The primary goal of the review is to investigate the possibility of [...]

Australian wine makers are calling for the current tax rebate they receive to be untouched in the face of possible alcoholic beverage tax reform. The way alcoholic beverages are taxed in Australia is currently under review by the Australian Treasury’s Secretary Ken Henry. The primary goal of the review is to investigate the possibility of simplifying and streamlining the way alcohol is taxed. As it stands, various types of alcohol all experience different taxes and rebates, a system that is claimed to be ... Read More

The Australian Tax Office (ATO) has issued a warning about self managed superannuation funds (SMSFs). The SMFS schemes have claimed to allow early access to superannuation funds, deemed illegal. According to the ATO the schemes have been targeted at those perceived to be of lower English speaking capacity or in difficult communication situations. This allows [...]

The Australian Tax Office (ATO) has issued a warning about self managed superannuation funds (SMSFs). The SMFS schemes have claimed to allow early access to superannuation funds, deemed illegal. According to the ATO the schemes have been targeted at those perceived to be of lower English speaking capacity or in difficult communication situations. This allows the organisers to mislead the victim as to the legality and implications of early super-annuation access. Tax Commissioner Michael D’Ascenzo voiced his concern to the plight of the ... Read More

Current Australian tax payers, or those previously registered as paying tax in Australia could be victims of an email scam. The scam could extend to current New Zealand residents who have payed tax in Australia. The Australian Tax Office (ATO) has issued warnings in regards to emails that have been circulating under the guise of [...]

Current Australian tax payers, or those previously registered as paying tax in Australia could be victims of an email scam. The scam could extend to current New Zealand residents who have payed tax in Australia. The Australian Tax Office (ATO) has issued warnings in regards to emails that have been circulating under the guise of official ATO correspondences. Typically the email will be adorned with the official ATO logo and have subject lines similar to “Australian Taxation Office - Please Read This” although ... Read More

The Reserve Bank of Australia has surprised analysts by cutting the Official Cash Rate (OCR) by 1%, 25 basis points above what many expected. The Reserve Bank of Australia has made its fourth OCR cut in a row. The Australian OCR now stands at 4.25 %. In total the OCR has fallen 3% since September. [...]

The Reserve Bank of Australia has surprised analysts by cutting the Official Cash Rate (OCR) by 1%, 25 basis points above what many expected. The Reserve Bank of Australia has made its fourth OCR cut in a row. The Australian OCR now stands at 4.25 %. In total the OCR has fallen 3% since September. While it was expected that a cut would be made, many analysts believed it would be more along the lines of 0.75% and not the full 100 ... Read More