A report by the Intergenerational Foundation warns that young graduates in England face a ticking timebomb of extreme debt and effective tax rates over 50% under the plan 5 student loan system.
A Tax Justice Network report suggests governments could gain an extra $500bn annually by taxing multinational profits where economic activity occurs, not in tax havens. UN talks in New York aim to establish a global standard by late 2027, despite past US opposition.
Taxpayers in India must file ITR by July 31, 2026, or be switched to the new default tax regime. The old regime remains attractive for many due to a wider range of deductions, despite the new regime's higher basic exemption and lower tax rates. Archit Gupta of ClearTax advises careful evaluation of eligible deductions under the old regime to optimize tax savings.
Labor Treasurer Jim Chalmers highlighted Shadow Treasurer Tim Wilson's own 2020 book, 'The New Social Contract,' which advocates for taxing labor and capital income equally and criticizes preferential tax treatment for established interests, aligning with Labor's proposed budget changes on capital gains tax and negative gearing.
Taiwan's tax authorities clarify that preferential self-occupied housing tax rates require direct family members (parents, children) to be registered and residing in the property, not collateral relatives like siblings. Providing a registered address for siblings alone does not meet the criteria, potentially leading to higher taxes.
