Australia’s Ten Most Expensive Legal Tax Breaks
The Commonwealth Treasury’s 2016 Tax Expenditures Statement (published in January 2017) shows Australia’s ten most expensive tax breaks are:
- Main residence exemption from CGT: $61.5 billion.
- Concessional taxation of superannuation earnings $16.9 billion.
- Concessional taxation of superannuation contributions $16.9 billion.
- CGT discount for individuals and trusts $9.6 billion.
- GST exemption for fresh food $6.9 billion.
- GST exemption for education $4.5 billion.
- GST exemption for health services $4 billion.
- GST exemption for financial services $3.9 billion.
- Concessional taxation of termination benefits $2.6 billion.
- Exemption from interest withholding tax on securities $2.3 billion.
Similar posts you may like
- What is a discretionary trust and do I need one?
A discretionary trust (also known as a family trust) is a trust established to hold a family's assets or operate a business. Generally, they Read more
- Tax Planning Strategy 173 | Salary Packaging for FBT-Exempt Employees
Certain public and non-profit hospitals, ambulance services, public benevolent institutions (PBIs), religious institutions, and health promotion charities (HPCs) are eligible for an FBT exemption. Read more
- Unique selling proposition
The unique selling proposition (USP) is a marketing concept that states successful advertising campaigns make unique propositions to customers that convince them to Read more
- The Stamp Act of 1712 imposed a stamp tax on United Kingdom publishers
The Stamp Act of 1712 imposed a stamp tax on United Kingdom publishers. The tax was levied on all publishing including newspapers, pamphlets, Read more
"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2