Showing posts with label tax. Show all posts
Showing posts with label tax. Show all posts

Saturday, July 20, 2013

THE TRUE FACTS ABOUT CHANGES TO FRINGE BENEFIT TAX FOR CARS as if they dont get enough money from fuel taxes as now this crap and we are standing in shit every were we go for fat cats sitting on there asses

THE TRUE FACTS ABOUT CHANGES TO FRINGE BENEFIT TAX FOR CARS

There has been a lot of misleading information in relation to the FBT changes so it is important to ensure that inaccurate assertions are corrected.

These facts include:

1) This reform will not affect the more than 3.6 million workers - including employees, the self-employed and sole traders - claiming deductions for work‑related travel;

2) It is estimated that around 320,000 people are currently salary sacrificing a car under FBT rules;

3) The changes are not onerous, a claimant must simply account for 12 weeks in a 5 year period;

4) The changes will not affect existing commitments, even if the vehicle is on order and has not been delivered yet;

5) Around two-thirds of these people earn over $100,000 a year;

6) Treasury analysis indicates the changes affect around 1 in 6 employees earning over $150,000 a year — compared to around 1 in 25 employees earning between $60,000 and $100,000 a year;

7)Claims that the FBT changes will cause massive damage to industry are alarmist and irresponsible;

8) Legitimate business use of a car can still be salary packaged and there are no changes to other items that can be salary packaged such as taxis, panel vans and utes, as well as laptops and benefits for not-for-profit workers.

9) Even putting aside the context of the changes to carbon pricing, the FBT decision is good tax policy. It protects the tax base for the vast majority of Australians who do not benefit from the salary packaging arrangements.

The Australian people are used to the negative politics of fear from Mr Abbott and Mr Hockey, who have made an art form of it for the past 3 years. It is no surprise they are stoking fear again over these changes because they have no credible policies themselves.

Tuesday, July 9, 2013

Taxation | Goods & Services Tax the other side of and what they dont bother to say is that its a goverment subsidy tax let the leaders get rich while we spend

The Goods and Services Tax (GST) is a broad-based tax of 10 per cent on the sale of most goods and services in Australia.
You must register for GST if:
  • your business has a GST turnover of $75 000 or more ($150 000 or more for non profit organisations)
  • you provide taxi travel as part of your business, regardless of your GST turnover.
You need an Australian Business Number (ABN) to register for GST, as the ABN is part of the GST system. Your ABN will also be your GST registration number.
To register for GST you will need to complete an application. You use the same form and apply for an ABN and other tax registrations at the same time.
If you're registered for GST, you're entitled to claim input tax credits for the GST paid on items you've bought for business use. If you're not registered, you can't claim input tax credits.

Small business GST concessions

If your business has an annual turnover of less that $2 million, you may be able to access the following GST concessions.

Accounting for GST on a cash basis

You can account for GST in the same tax period you receive payments from your customers and claim input tax credits for making payments to your suppliers.

Paying GST by instalments

You can pay GST by instalments each quarter based on what you or the Australian Tax Office (ATO) estimates your GST liability to be. You can vary this amount each quarter.

Annual apportionment of GST input tax credits

You can claim a full input tax credit for a business purchase that you intend to use partly for private purposes and make a single adjustment to account for the private use percentage at the end of your income year.

Carbon pricing in Australia why is there a tax as this is sending companies away from down under

In October 2006 the Stern Review on the effect of climate change on the world's economy was released for the British government. This report recommended a range of measures including ecotaxes to address the market failure represented by climate change with the least amount of economic and social disruption. In response to this report and subsequent pressure from the Kim Beazley lead Labor opposition, in December 2006 the Howard Government established the Prime Ministerial Task Group on Emissions Trading, chaired by Peter Shergold, to advise on the implementation of an emissions trading scheme (ETS) in Australia.[8] Following the release of the final report from this task group, the Howard government committed to introduce an ETS.[9][10]
Going into the 2007 federal election, the Labor opposition party presented itself as a "pro-climate" alternative to the Government, withKevin Rudd, who had by then deposed Beazley as leader, famously describing climate change as "the great moral challenge of our generation". Labor differentiated itself from the government by promising an ETS with an earlier start date of 2010 rather than the 2012 timeframe advocated by Howard. It also promised ratification of the Kyoto Protocol, investment in clean coal and renewable energy, and slightly more aggressive targets for renewable energy.[8]
Labor won the 2007 election, and on 3 December 2007 the Rudd Government signed the ratification of the Kyoto Protocol at the 2007 United Nations Climate Change Conference. By ratifying the Kyoto Protocol, Australia was committed to keeping emissions to no more than 108% of its 1990 emissions level by 2012. Australia's ratification came into effect on 11 March 2008.[11]
In September 2008, the Garnaut Climate Change Review, commissioned in April 2007 by Kevin Rudd when he was leader of the opposition, released its final report. Garnaut recommended a price between $20 and $30 per tonne of carbon dioxide (CO2) equivalent with a rise of 4% each year.[7] On 16 July 2008, the Rudd Government released a green paper for its Carbon Pollution Reduction Scheme (CPRS), outlining the intended design of the scheme; a more detailed white paper was released on 15 December 2008.
The CPRS received criticism from both sides of the climate change debate. Environmental lobby groups protested that the emissions reductions targets were too low, and that the level of assistance to polluters was too high. Industry and business lobby groups however argued for more permits and assistance to offset the economic impacts of the scheme on many enterprises, particularly given the context of the global financial crisis.[8] The Malcolm Turnbull lead opposition supported the scheme in principle, although at times over 2009 they indicated disagreement with various details including the timing of implementation of the scheme, timing of the vote on the relevant legislation and on the level of assistance to be provided to polluting industries. The opposition was able to negotiate greater compensation for polluters affected by the scheme in November 2009.[8]
Shortly before the Senate was due to vote on the relevant bill, leadership tensions in the opposition came to a head.[12] On 1 December 2009 Tony Abbott defeated Malcolm Turnbull in a leadership challenge. Abbot immediately called a secret ballot on support for the ETS among coalition MPs, which was overwhelmingly rejected.[13] The Coalition then withdrew their support for the carbon pricing policy and joined the Greens and Independents in voting against the relevant legislation in the Parliament of Australia on 2 December 2009.[14] As the Rudd government required the support of either the Coalition or the Greens to secure passage of the bill, it was defeated in the Senate. In April 2010, the Government deferred the scheme to the post-2012 timeframe

sleep-problems-cost-taxpayers-27m-more-in-medicare-study/story

KIDS' sleeping problems are costing taxpayers $27 million a year through extra doctors' visits and sleep clinics - and turning parents into nervous wrecks.
Sleep experts are warning that children's tantrums, hyperactivity and learning problems could simply mean they are too tired.
At least one in three kids has trouble falling asleep, or sleeping through the night, according to the study of 8400 Australian children, led by the Murdoch Children's Research Institute and published in the British Medical Journal.
The extra cost of medical visits for sleep-deprived children adds up to $27m a year in extra Medicare costs, the researchers calculated.
"Sleep problems in infants and children account for substantial primary healthcare costs to the public purse,'' the study concludes.
"Up to 40 per cent of parents report that their infants and young children experience sleep problems, which are in turn associated with increased child inattention, poorer social and emotional skills and poorer learning and memory formation.
"They are also of great concern to parents, and are associated with disruptions to employment and increased mental health problems.''
Lead author John Quach said 20 per cent of children had trouble falling asleep at night, and 15 per cent had problems staying asleep.
"Children who have sleep problems are more likely to have behavioural problems and poor concentration,'' he said yesterday.
"They're more likely to be disruptive in class and not be able to follow instructions … (and) to have poorer learning and language skills.''
Dr Quach said parents with children who woke during the night were likely to suffer more "stress and anxiety'' than parents whose children slept soundly.
He said primary school children need 10 or 11 hours' sleep each night.
"Parents should see sleep as a priority and they should have a consistent bedtime and a consistent routine,'' he said.
"The hour before bed should be a media-free time when children are reading or having a story told to them so they can wind down.''
Dr Quach said the true cost of medical treatment for sleep-starved children would be much higher than $27m a year, as the study did not include parents' out-of-pocket costs.
Australia's largest baby and toddler advisory organisation, Tresillian Family Care Centres, has cared for mothers so sleep deprived they have had accidents.
Marie Clifford, the manager of Tresillian's Wollstonecraft centre on Sydney's north shore, said parents who did not get enough sleep after three months "start going on a downward spiral''.
She said parents need to read babies' "cues of tiredness'' - such as frowning, grimacing or jerky movements - and then give them time to fall asleep undisturbed.
"Often the parents think there is something physically wrong with the child and tend to medicalise it,'' she said.
"But the baby is saying, 'For goodness' sake put me to bed, I'm tired!'
"Often it will take a baby half an hour to get into deep sleep … but we're seeing parents who are trying to be perfect and any time the baby makes a noise, of course they jump.''
Ms Clifford said overtired toddlers could "demonstrate their tiredness in quite a violent way''.
"A lot of overtired children who get labelled as difficult and having behavioural problems are tired children who never learned to go to sleep,'' she said.
New mum Melissa Vince, 28, is using the Tresillian sleep clinic to help her baby Oliver extend his 20-minute "cat naps'' during the day.
"Everyone uses the catchphrase, 'Sleep when the baby sleeps', but what happens if the baby doesn't sleep?'' she said.
"It takes the smallest thing to tip you over the edge, and you feel absolutely shattered.
"The more sleep you get, the better you are able to cope with the ups and downs of the day.Sleep