The Times Australia
Google AI
Business and Money

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
Yes, there are millionaires who pay no tax, but crimping deductions mightn't helpFiona Smallwood/Unsplash, CC BY-SA

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...

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

Business Times

Is Hiring a Web Developer Still Worth It?

It’s a fair question to ask in 2026. With AI tools promising to build you a website in minutes and drag-and-drop platform...

Tech companies are blaming massive layoffs on AI. What’s really g…

In the past few months, a wave of tech corporations have announced significant staff cuts and attributed them to effici...

Nectr secures solar partnership with The Panthers Group at Pullma…

Nectr expands off-field partnership with the Panthers, delivering renewable energy solutions for the group’s commercial venue...

The Times Features

Leader of The Nationals Matt Canavan - press conference

CANBERRA PARLIAMENT HOUSE PRESS CONFERENCE WITH SHADOW WATER MINISTER MICHAEL McCORMACK; MURRAY-DA...

The Power Of An Uncomfortable Love

How challenging relationships can help us grow. Never have we lived in a time where relationshi...

US country favourite Larry Fleet joins 2026 Gympie Music Muster

Tennessee singer-songwriter Larry Fleet will bring his band to the Gympie Music Muster on Friday...

56 OF YOUR FAVORITE DISNEY STARS SHINE BRIGHT IN DISNEY ON ICE PRESENTS MAGIC IN THE STARS!

The most Disney characters in one show and the on-ice debut of Raya from Raya and the Last Dragon...

How much do you really need to retire? It’s probably a lot less than $1 million

Every few months, someone in the superannuation industry declares that Australians now “need” ar...

South Australian Nationals to open up local oil from Great Australian Bight

Amid out-of-control inflation and impacts from the Middle East conflict, The South Australian Na...

How does your super balance compare to other people your age?

If you have ever checked your super balance and wondered whether you are “behind” for your age, ...

Why Farrer is a key test for One Nation vs the Coalition

The Farrer by-election[1] on May 9 will be a major test for new Liberal leader Angus Taylor and ...

Leader of The Nationals Senator Matt Canavan Rockhampton press conference

Well thank you ladies and gentlemen. Thank you for coming out, this morning and thank you very muc...