As COVID-19 quarantines and lockdowns drive up psychological distress, many people have increased their screen time, including online shopping, to cope.
Many economists think that earnings in super funds should be taxed at a relatively low rate, compared to labour earnings and other types of earnings such as interest and dividends.
Older women have been recognised as the fastest-growing group of homeless people in Australia in recent years.
If a recipient has over $11,500 in liquid assets their payments can be temporarily paused.
The tax office is trying to get a sense of how many Australians cashed out their super despite not fitting the early access scheme’s requirements.
Many will be able to apply to receive both.
We’re told Australia has a progressive tax system – the more you earn, the higher the rate. That’s how it’s meant to be, except in practice it isn’t.
The inevitable result of such a policy will be a surge of personal and business bankruptcies, mortgage defaults and evictions.
As Australian home lending falls out the window, there’s no shortage of owners negotiating their existing loans down.
For some people tax time will result in no tax paid this year, and if past years are anything to go by, about 50 of them will be millionaires.