Business News

Mon Jul 13

Yes, there are millionaires who pay no tax, but crimping deductions mightn't help

Written by: Ann Kayis-Kumar, Senior Lecturer and Tax Clinic Director, School of Taxation & Business Law, UNSW

For some people tax time will result in no tax paid this year, and if past years are anything to go by, about 50 of them will be millionaires.

Not mere millionaires, but millionaires earning more than A$1 million per year.

For some of these 50 or so very high earners, managing tax will be expensive. The two dozen or...

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