Tax breaks enjoyed by property investors should be diverted to support innovative, job-creating companies instead, according to tech entrepreneurs. A lower tax rate on start-up income, a zero capital gains tax and a way for investors to use losses would boost the start-up industry and create jobs in a tumultuous market. Freelancer.com Chief Executive, Matt Barrie says it was the tech industry who created the world’s youngest billionaire – Mark Zuckerberg. “I cannot think of any other industry other than […]
Large businesses have a new friend in the Greens who are set to block the Abbot government’s plan to slash R&D tax breaks by $1.1 billion. The unlikely allies have made nice in the face of the potential loss of millions of dollars to Australian businesses. The ALP have also jumped on the band wagon in support of the Greens, who are lobbying minor party senators to oppose the savings measure. Labor’s amendment would allow small to medium businesses to […]
This morning, in a bold move to resurrect the quarterly credits concept, the Leader of the Greens, Christine Milne moved amendments in the Senate to the Tax Laws Amendment (Research and Development) Bill 2013. As part of this move, the Greens will also aim to strike out Government plans to cut R&D incentives for large companies. It is important to note that the original Tax Laws Amendment (2013 Measures No. 4) Bill 2013 established a scheme for making refundable tax offsets available in […]
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