Goodbye negative gearing: reform plans by the Howard government are expected to put an end to this tax-saving tactic. Investors should make contingency plans

Article Abstract:

The tax reform plans of Australian PM John Howard's government will bring an end to negative gearing in real property according to Real Estate Institute of Australia CEO Philip Eliason. The 1987 budget reinstated negative gearing, which was banned in 1985, in property, which fed the real estate boom that peaked in 1989. The loss of negative gearing will reduce the profitability of real estate investments.

Real Estate, Real Estate and Rental and Leasing, Administration of Human Resource Programs (except Education, Public Health, and Veterans' Affairs Programs), Income Security, Cover Story, Tax administration and procedure, Tax administration, Real estate industry, Real estate investment, Real estate investments, Domestic economic assistance, Welfare, Public assistance, Howard, John

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Fraudsters' folly

Article Abstract:

The tricks used by tax evaders to escape income tax in Australia are discussed. Many evaders deposit less than $10,000 as the Financial Transactions Report Act. requires financial institutions to report transactions equal to or more than $10,000. But another clause in the Act is to report any suspect transactions, which is ignored by most of the evaders who inturn gets caught.

Australia, Forecasts, trends, outlooks, Taxes, Interpretation and construction, Forecasts and trends, Market trend/market analysis, Control, Tax evasion

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The not-so-new showcase

Article Abstract:

Issues are presented concerning the 5-billion Australian dollars in taxation reductions which were outlined in the 2001 budget. The simplification of taxation for small businesses and the reduction of taxation on company cars are discussed.

Finance, Budget, Budgeting, Budgets, 2001 AD

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