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TAX PAYERS LIVE ON DEBT
Dales said the RBA is almost being held "hostage" by the levels of household debt in Australia, which have the effect of preventing any kind of action by the central bank on interest rates, be it higher, or lower. "On one hand it means they don't really want to cut rates to boost ...
This comes on the back of the IMF accusing the Chancellor and her minions of an own goal through the chancellor’s tax increases on business, which came into effect on 01 April; add into the mix, households are grappling a surge in bills, including those for energy, water and council tax...
Using your income tax refund to pay off or pay down credit card debt can have longer-term financial benefits than simply reducing what you owe. It may benefit you the most to pay down the balance on a credit card with a high interest rate. Paying credit card debt can reduce your credit...
in Australia, which has inherent tax benefits. Under a novated lease, the lender/financier is the legal owner of the vehicle and leases it to the obligor. The obligor novates the lease to their employer, which is responsible for paying the lease instalments from the employee's pre-tax ...
Independent legal, regulatory, business, investment, financial and accounting and/or tax advice should be sought for any such queries in respect of any investment. SCB and/or its affiliates may have a position in any of the securities, instruments or currencies mentioned in this document. SCB ...
BlackRock uses data from external ESG research providers to initially identify issuers which may not have satisfactory governance practices in relation to key performance indicators (KPIs) related to sound management structure, employee relations, remuneration of staff and tax compliance. Where issuers ...
and the lender takes the property as full or partial settlement of the debt, it is considered a sale for tax purposes, not a forgiven debt. In that case, you may need to report capital gains or losses on the “sale” of the property, but you will not need to add forgiven ...
If you realize you could have reported and taken a deduction for an unpaid debt years ago but didn't, you generally have only three years to amend your return in order to claim it on your tax return. TurboTax Tip: A bad debt deduction must be taken in the year it b...