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The Federal Government's $950 tax bonus payment could end up costing the Government up to $2,375 per taxpayer

Pensioner Rewards

Oct 15, 2008

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FOUR million pensioners, carers, seniors and veterans will get one-off payments worth $1400 for singles and $2100 for couples in December as the Government tries to boost the economy.

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FORMER Treasurer Peter Costello drew fire from financial planners and political foes alike yesterday. He was called heartless and impulsive for trying to blame advisers for over-enthusiastically directing clients into superannuation investments that have crashed horribly since last year.

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It barely rates a mention in Treasury chief Ken Henry's 366-page review of the tax system, but something desperately needs to be done to reduce the burden of tax compliance on individual taxpayers.

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Buying a computer is cheaper than leasing in the long term but some small businesses may have other plans for their dollars.

comments-rhsLatest Comments

  • "Assuming the app calculates the profit currently then you can use that figure in the Business Income item of your individual tax return - ideally the ATO would like a gross up of the turnover/sales..."

    By: Mr Taxman at Oct 17, 2020 2:10AM

    Post: Foreign currency trading

  • "Good evening Mr Taxman, I just would like to ask about my forex currency trading(I use MT4 app) Each time I close a trade it shows me a loss or profit and it includes the costs. At the end of..."

    By: Aggi at Oct 06, 2020 11:19AM

    Post: Foreign currency trading

  • "I think the Tax Commissioner would unfortunately consider it to be a personal expense Anne - like the purchase of a house would be."

    By: Mr Taxman at Sep 19, 2020 12:35AM

    Post: Claiming car expenses

  • "You can claim the 68 cents per kilometre method but that effectively covers all running costs of your vehicle. If you wanted to claim a % of running costs you will need to keep a 12 week logbook. "

    By: Mr Taxman at Sep 19, 2020 12:32AM

    Post: Claiming car expenses

  • "Its ok to choose from November 2019 for the start of your logbook Liezl. You can essentially chose any 12 week period during the year so long as its representative of your travel throughout the..."

    By: Mr Taxman at Sep 19, 2020 12:29AM

    Post: Claiming car expenses