Can government fix it

Tax Obligations of a Single Parent as a Temporary Resident


I am a single Mother of three children under the age of 10 years old. Our residential status is Temporary Residents. I work as a Sole Trader: Uber Driver and Menulog Courier for more than 14 hours every day, sometimes 18 hours, simply to deliver the essentials for my children. In FY 2020 my estimated taxable income is $53 000. According to ATO Tax Calculator I must pay around $8 000 tax. I do... more »

Can government fix it

Minor assets write off

The instant asset write of rules are great for eligible businesses, but larger corporate entities are still having to capitalise and depreciate low value assets for tax that are often expensed for book purposes. At a minimum, it would be beneficial to simply allow an immediate tax write off for minor assets that are expensed for accounting purposes (ie, those that fall below the asset recognition threshold).

Current... more »

Can government fix it

Australian Skills Share - Journey out of Covid

There are currently 3.5million Australians receiving the Job Keeper subsidy, and 1.3 Million receiving Job Seeker. Within those 4.8 Million Australians currently displaced, we have a lot of individuals who are highly skilled and educated outside of their occupation.

For example, the below indicates different occupations that if given the Platform, could connect with each other. And either use their primary skills, or... more »

Can government fix it

Increase the Tax-Free Threshold for small business owners

Increase the tax-free threshold for small business owners on a rising scale up to $120,000 depending on the amount of staff they employ and the amount of GST they generate.
BENEFITS: Owners will be encouraged to show all income as this will improve the bottom line for things like: value of business, getting loans, business more salable.
Reduce the "Black economy".
They will be more likely to employ more staff therefore... more »

Can government fix it

Unfair Departing Australia Superannuation Tax Rate

Tax rate of 65% should only be applied only on the period whilst foreign worker is using Work and Holiday Maker visa. It is unfair for those who stayed in Australia for years, yet they got taxed 65% for the whole time they lived in Australia just because they used Work and Holiday Maker visa for some time.

Can government fix it

Updating tax laws for changes to accounting standards

There are a number of areas where the tax law has not been updated to reflect the impact of new accounting standards. Two areas that immediately come to mind are:

1. The new leasing standard AASB 16 brings most leases onto the balance sheet. The tax consolidation provisions, for example s705-56 of the Income Tax Assessment Act 1997, make specific modifications for finance leases. These may need to be extended to all... more »

Can government fix it

Making it easier to pay taxes

My idea is for a tax system that makes it easier for sole traders and small businesses to pay their taxes as they go without the worry of larger quarterly instalment bills and or large tax return bills. What I would like to see is a simple tax bracket system based on earnings as you go rather than predicting your future earnings which may not be accurate.

For example for every invoice payment from a client received... more »