Andrew Horwood’s Post

Roy Morgan Business Confidence jumps 6.2pts to 101.3 due to increased confidence about the economy The boost to Business Confidence came after the Stage 3 tax cuts were introduced for income taxpayers in July and the latest inflation figure dropped to 3.5%. Read more: https://lnkd.in/dexFv4qD #BusinessConfidence #AustralianEconomy #Inflation

#budget2024 Factor of inflation over the years is taken away and this may not be beneficial for properties held for longer time periods! Effectively, the tax will be levied on nominal gains over and above the real gains that accrue on sale of asset! So, #Inflation will get an opportunity to be taxed too?! Quite a move! Certainly welcome are abolition of the #angeltax, rationalization of #TDS rates including for e-com participants, changes sought to be brought in for reassessment proceedings among others. #tax #flash #update

There has always been and will always be an argument about Tax Cuts. Especially Tax Cuts for the rich. How to measure impact should be simple. How much Income to the Treasury is taken in after such cuts? The Treasury has a table that shows year by year from 1940. It will not paste here, but it is easy to find. In all that time, 1983, 2003 and 2009 were the only years where income fell. Each year after it rebounded. So on 83 years if collected data, we have had negative income 0.036% of our history.

With mandatory spending high, compared to prior years, it appears likely you're going to continue seeing larger interest expenses relative to overall spending. In context, as we approach interest expense levels of the early 1990's, tax rates were about 25% higher. However, in the 1990's we balanced the budget by adjusting discretionary spending to reduce debt levels as a percentage of GDP. Question of the day, does either party talk about adjusting spending, or are we in for much higher tax rates in the near future? #debt #interestrates #rates #usdebt #interest #spending #economy #federalreserve #fiscalpolicy #taxes

After yesterday budget, it seems that Government comprehend the concept of inflation only when they are in opposition. Takeaway of the indexation benefit while computing Long Term Capital Gains is contradictory with the basic finance concepts of Time Value of money. As per Finance Minister a property purchased 30 years ago for INR 100,000 is having the same cost of acquisition in 2024 for paying taxes to our benevolent government. This amendment seems to be punishing for tax payers as they have to pay taxes on the entire nominal capital gain and not on inflation adjusted capital gain. Will be happy to know your thoughts in comments. #Budget2024 #Taxes #Burdenoftaxes #Inflation

Thanks to everyone who participated in yesterday's poll on future tax trends! The results are in, and a majority of you foresee tax increases in the coming decade. One key factor driving this sentiment is the U.S. national debt, which is rapidly approaching $35 trillion and growing by over $8 billion daily according to the US Debt Clock. This mounting debt raises concerns that tax hikes may be necessary to address the issue. Many argue that the escalating debt demands tax increases to boost government revenue and manage interest payments. However, there are differing viewpoints. Some suggest reducing government spending or implementing policies to stimulate economic growth as alternatives to tax hikes. Others propose tax policy reforms, such as closing loopholes and ensuring fair taxation, to aid in debt reduction efforts. The complexity of this issue highlights the absence of simple solutions. The future of taxes is likely to involve a combination of approaches. What are your thoughts on this matter? Do you believe raising taxes is the best path forward, or do you advocate for other viable solutions? Share your insights in the comments! #taxes #economy #USdebt https://lnkd.in/duEgiM9j

Whatever you feel about paying taxes, they have a role in society. We've been taught that taxes pay for the shared services of medicare, social security, infrastructure and protection. But in fact, the purpose of taxes is to counter-balance the creation of money in the Keynesian System of Debt Based Monetary Policy. Today, the Fed uses interest rates instead of increasing taxes to manage the flows, because politicians don't want to increase the tax rate. Either taxes or interest manipulation can work, but neither are keeping up with the massive volume of unfettered money printing that occurred when the GDP dropped during lockdowns, so inflation becomes the third way for the monetary system to find balance and this one is in no one's control. #FinancialEmpowerment #TaxAwareness #SocialResponsibility #EquitableFuture #ContributionCounts #Taxation #FinancialLiteracy #BuildingBetterSociety #CommunityEngagement #EmpowermentJourney #WomensWealthyWays

The minister of finance will table his budget proposals on February 21st, 2024. See here what some of the key predictions are in regards to Interest Rates, Inflation, Tax Gaps and the Fiscal Outlook for the year https://lnkd.in/dT7U8cDc #BudgetSA2024 #Inflation #TaxGap #FiscalYear #InterestRate #EconomicGrowth

“As fiscal policy exerts restraint on the economy (the mid-year tax cuts will likely not noticeably lift household spending), the Reserve Bank will see scope for faster easing of monetary policy than the prolonged profile they are currently running with of no easing until mid-2025.” Tony Alexander 28/03/24 We are moving ever closer to dropping interest rates.

Thanks to the Inflation Reduction Act & the U.S. Department of the Treasury, schools may be eligible for tax credits that can cover up to $100k per port for #CleanRide4Kids charging infrastructure! 👏 Learn more here from the latest guidance ⬇ https://lnkd.in/eBNP26wq