income tax

Nearly one third of the largest companies in Australia paid no income tax in 2021-22, according to the Australian Taxation Office (ATO).It’s not unusual for large companies to pay no income tax in a given year, since income tax is paid on…

Blokes are the biggest winners under income tax cuts Anthony Albanese will hand out next year, and the Greens claim the cost is set to blow a $313 billion black hole in the budget.The reason is simple – the gender pay gap means that men…

Welcome to Sisters In Law, news.com.au’s weekly column solving all of your legal problems. This week, our resident lawyers and real-life sisters Alison and Jillian Barrett from Maurice Blackburn advise about your rights when it comes to a…

By SR Patnaik and Thangadurai V. P In a landmark ruling, the Supreme Court has recently held in the case of PCIT v. Abhisar Buildwell Pvt Ltd that the income tax department should not be allowed to reassess the completed assessments if no…

The Income Tax Department is working on the guidelines for applicability of the “angel tax” provisions which were extended to foreign investors effective April 1. The idea is to provide clarity on valuation and the exemption norms.…

The Income Tax department will come out with draft rules within the next 8-10 days to specify the class of investors and norms of valuation of foreign investment in unlisted companies, an official said on Tuesday. The Finance Act, 2023, has…

Sleuths of the Income Tax department on Wednesday conducted searches at multiple premises, including the residence, linked to West Bengal BJP MLA Krishna Kalyani who after being elected to the assembly announced his allegiance to TMC, an…

A $100,000 salary has long served as the benchmark for attaining financial success, but for workers in New York City, Honolulu and San Francisco, raking in $100,000 isn't enough to float a cushy, six-figure lifestyle, a new study…

Chuyn | Istock | Getty ImagesIf you've dreamed of working or retiring abroad, you may be tempted by the possibility of cheaper housing or health care. But there are some things to consider before making the jump.Jude Boudreaux, partner and…

More than 10 million middle-income Australians will cop one of the largest tax increases in Australian history after the May federal budget. The record breaking tax hike comes as households are grappling with high interest rates and…