Category Taxation in Australia

Australia Says No to Sugar Tax

August 2, 2018 Taxation in Australia

Sugar taxCANBERRA – Australia won’t enact a sugar tax, as it is not the government’s job to tell people what to eat and drink.

The government of Australia has made it clear that it does not intend to enact a tax on sugar and sugar-sweetened beverages.

The government had received a recommendation from the Centre for Research Excellence in the Early Prevention of Obesity in Childhood to launch a 20 percent tax on soft drinks, and other sugar-laden drinks.

The move was meant to address the growing problem of obesity and obesity-related health issues in Australia.

In particular, the tax would have been aimed at reducing the sugar intake levels of children up to the age of five.

The Centre has found that as many as 27 percent of Australian children are overweight or obese by the time they reach five...

Read More

Amazon Shuts Out Australians, Blames GST Rules

June 1, 2018 Taxation in Australia

Amazon tax AustraliaCANBERRA – Australia’s new tax rules have led Amazon to shut out Australian shoppers.

On May 31st the international online retailer Amazon announced that it would be geo-blocking Australian shoppers from their US website.

Users located in Australia would still be able to us the Australian section of Amazon.

Amazon is taking the move to lessen the tax compliance burden arising from Australia’s new rules regarding GST on internet purchases.

The Australian government has set in place new rules to mandate that online retailers reaching a pre-set sales threshold must register for GST in Australia, and collect the 10 percent tax from all sales made in Australia.

Previously goods worth less than AUD 1000 and purchased overseas could be brought into the country without facing the tax.

The T...

Read More

Australia Sets Up Crypto-Tax Task Force

January 11, 2018 Taxation in Australia

LitecoinCANBERRA – Dodging taxes using cryptocurrencies will soon be harder in Australia.

The government of Australia has announced the formation of a new task force aimed at ensuring that taxpayers who make profits from cryptocurrencies are not able to hide their incomes.

The new task force will be comprised of a group of expert in banking, tax law, and technology, and they are scheduled to meet for the first time in February to begin work on their task.

The main goal of the group will be to create strategies and mechanisms which will allow the government to track the flow of cryptocurrencies, and to accurately detect whether Australian taxpayers are paying taxes on profits made from cryptocurrency.

Currently, cryptocurrencies in Australia are considered to be an asset, and any profit made fro...

Read More

Reduce Car Taxes, Reduce Road Crashes

December 21, 2017 Taxation in Australia

car taxCANBERRA – If Australia dropped its car import tax, the national road toll would drop.

New research released by the Australian Automobile Association (AAA) has indicated that dropping taxes on car imports in the country will lead to a reduced road roll and will save healthcare expenditure.

Australia currently has an unusually old car fleet for a developed country, and the state and technology of the cars result in a disproportionately high road toll.

The average age of a passenger vehicle in the country is 9.8 years, while light commercial vehicles are an even older 10.4 years.

If the age of the fleet was reduced by even 1 year, road crashes would be reduced by 5.4 percent, and lead savings of 3.3 billion in healthcare costs over the coming 20 years.

The reduction in the age of the car ...

Read More

Luxury Car Tax Bites Australians

December 19, 2017 Taxation in Australia

Luxury Car TaxCANBERRA – Australia’s appetite for luxury cars is proving to be a financial windfall for the government.

Information contained in the Mid-Year Economic and Fiscal Outlook released by the government of Australia has shown that the amount of tax revenue collected from the sale of luxury automobiles is rising beyond expectation.

All cars sold by a registered dealer in Australia are liable for a Luxury Car Tax if their sale price is above AUD64 132, or AUD 75 526 in the case of cars with a fuel efficiency exceeding 7L/100km.

The tax is levied at a rate of 33 percent on the portion of the price which exceeds the applicable threshold.

In the current financial year the tax is expected to lead to revenues of approximately AUD 680 million, a level which is nearly AUD 30 million higher than was ...

Read More