Tax

The ASX lost 1.3 per cent after US markets plunged in their worst day since late 2022. All indices in Asia lost value today. Catch up on the day's events and insights with our business reporters on the ABC News live markets blog.

Taxpayers can claim up to $300 for work-related expenses without a receipt as income tax deductions.

As some company CEOs are receiving a salary more than 50 times higher than the average employee's, even the rich are starting to say it's time to rein in their wealth.

A tax benefit has allowed Australians to save tens of thousands of dollars when buying plug-in hybrid cars but the motor industry warns that is set to end next year and it could slow sales and undermine emissions reduction efforts.

The government announced it was changing the HECS indexation rates a few months ago, but the legislation hasn't passed parliament yet. 

Australia's tobacco excise is "well past its point of effectiveness", according to one expert, who says it's pushing smokers onto the black market, hurting retailers and taxpayers. 

The message is clear: the honeymoon period is now over for businesses that were extended during the COVID-19 pandemic, as the ATO works to recoup more than $50 billion in debt.

Unemployment has risen slightly to 4.1 per cent in June, up from 4 per cent the previous month. As it happened.

Australian stocks have ended higher to set a new record, following a rally on Wall Street. Meanwhile, Andrew Forrest's Fortescue announced it would axe 700 jobs by the end of the month — equivalent to 5 per cent of its workforce.

A review of Sydney's toll roads has called on the government to lower costs for motorists but impose two-way tolls on harbour crossings.

There have been calls for the ATO to show discretion in its 'firmer' action against businesses it says owe billions in tax and super. Liquidators say the firmer action is pushing insolvencies to GFC levels.

The ATO has issued tens of thousands of director penalty notices that make people personally liable for debts, and is also more commonly using garnishee notices, which allow it to take money directly from a person's bank account or employer. That's sending more businesses under.

There are 100,000 properties sitting vacant in Melbourne during a housing crisis, and it speaks to "deep inequality", a new report says.

Australian shares set a new record high during trade on Friday, where Commonwealth Bank stocks hit a record high, and took BHP's spot as the largest company on the ASX. As it happened.

A credit check has revealed that the troubled residential construction company has been issued an Australian Taxation Office default notice for more than $3.8 million, and that several sub-contractors are taking legal action over unpaid bills.

We went on a deep dive after the stocks of Telix and Select Harvests both rose suddenly on the ASX. Meanwhile, the overall market finished higher, after another rally on Wall Street. See how the day unfolded on our live blog.

Typically, people with more complex financial situations will benefit from having an accountant lodge their tax returns. Here's who that might include.

It's a Victorian tax hitting up investors sitting on empty residential properties — but analysis suggests it could be missing roughly 90 per cent of so-called "ghost homes" eligible for the charge, less than a year out from a planned expansion of the levy.

Independent economist Chris Richardson says the latest consumer and business indicators are consistent with an economy that was already travelling slowly, and is going to go even slower.

As Australians endure the latest acute phase of a decades-long housing crisis, why are property owners allowed to leave homes derelict and prime land vacant indefinitely?

Pacific Island workers coming home from Australia say it's a long and complicated process to get their superannuation — and the barriers appear to be stopping many from claiming their money.

The Australian share market closed lower on Friday, while a report by the ACCC has warned that the eastern states could face a gas shortfall by 2027 — a year earlier than it had previously predicted.

Reactions to the parliament's ASIC inquiry, a look at what's brought wheat prices down and the ASX closes trading higher: as it happened with our business reporters on the ABC News markets blog. 

With official estimates putting the number of vacant and derelict homes above 100,000 across Australia, local governments and property lawyers argue they could be part of the solution to Australia's apparent housing shortage.

About 14 million Australians will be prepping their tax returns in the coming weeks. But the ATO is warning taxpayers not to jump in too soon.