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Your Parents Paid Less Income Tax Than You

Australian Baby Boomers have it easier when it comes to income taxes, new data shows. Working-age Australians are underwriting government services today much more than Baby Boomers did for their parents back then.  Older Australians pay less tax than the younger generation even on the same income. The …

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Higher LMITO Now in Effect

In the 2019-2010 Federal Budget, the government laid out its plans to change and increase the Low and Middle Income Tax Offset (LMITO) to build a new tax system that recognizes the hardworking people of Australia. The enhanced …

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