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The Latest Breaking News from Income Tax

‘Silicon Six’ accused of avoiding almost $278bn in US corporation taxes over 10 years

Analysis finds Amazon, Meta, Alphabet, Netflix, Apple and Microsoft averaged 18.8%, compared with 29.7% US average

The Guardian - UK

Top economist urges Reeves to raise basic rate of income tax for first time in 50 years

Institute for Fiscal Studies boss Paul Johnson warned Donald Trump’s trade war is ‘badly buffeting’ the UK economy

The Independent UK

Dutton to offer targeted income tax offset of up to $1,200

Peter Dutton at his party launch on Sunday will offer a “cost-of-living tax offset” of up to A$1,200 to more than 10 million taxpayers.

The Conversation

From analysis to the latest developments in health,
read the most diverse news in one place.

Mississippi Is Ditching Its Income Tax. Other States Should Follow.

The poorest state in the nation just passed bold tax reform that empowers workers, attracts investment, and simplifies the system. It’s a model worth copying.

Reason

Why tax literacy should be a national priority in Canada

The last time Canada’s political parties campaigned during a tax season was more than a decade ago. This year, taxes are a hot topic, and for good reason. Shortly after the federal election was called, the political parties began rolling out promises of tax cuts to win over voters.

The Conversation

Could Tax on Overtime End for Your State This Year?

Key states are considering ending taxes on overtime — find out if yours makes the cut

Kiplinger

No state has ended personal income taxes since 1980, but Mississippi and Kentucky may change that

About 45 years have passed since a state last eliminated its income tax on wages and salaries

The Independent UK

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Ask the Editor: Reader Questions, April 4 — The Tax Bill

Ask the Editor: Taxes, April 4 — Joy Taylor, The Kiplinger Tax Letter Editor, answers questions on Trump's tax package, estate tax and Muni bonds.

Kiplinger

New South Carolina Income Tax Cut Might Eat Your Cash

South Carolina’s flat income tax bill could have the majority of residents paying higher income taxes. Find out how.

Kiplinger

In recruiting battle, lawmakers weigh whether to give college athletes a tax break on NIL earnings

At least four states are considering giving college athletes tax breaks on endorsement income

The Independent UK

Ask the Editor: Reader Questions, March 28 — Tax Returns

Ask the Editor: Taxes, March 28, 2025 — Joy Taylor, The Kiplinger Tax Letter Editor, answers questions on filing tax returns and paying taxes.

Kiplinger

Coalition energises race for votes with gas and petrol

The coalition have pledged gas investment to bring down power prices as they position themselves as stronger leaders for the nation ahead of the election.

AAP

Labor gets tick on tax cut, Liberal fuel plan sputters

Labor's election tax cuts will provide a "meaningful" boost to the economy, while the coalition's fuel excise cuts have been labelled economically "silly".

AAP

This budget’s tax tinkering isn’t the same as meaningful tax reform. Here’s why

Labor’s tax changes this week do not tackle tax reform, or why we desperately need it. They only address the amount collected from personal income tax, which is the largest source of tax revenue.

The Conversation

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Evening Standard

Graph reveals how UK tax burden will hit record high after Spring Statement

Income tax and national insurance contributions are the main drivers behind the jump in the overall tax burden

The Independent UK

Martin Lewis gives verdict on spring statement as ISA reforms underway

The money expert focused on household income and rumoured ISA changes in his initial reaction

Kiplinger

States with the Highest Income Tax Rates for Retirees

You may reconsider living and retiring in one of these states due to high taxes.

The Conversation

Politics with Michelle Grattan: Jim Chalmers and Angus Taylor on tax top-ups and budget bottom lines

As the election starter’s gun is about to be fired, Tuesday’s budget announced modest income tax cuts as the government’s latest cost-of-living measure. The Coalition has opposed the tax relief, with Peter Dutton’s Thursday budget reply to put forward his policy counters on the cost of living.

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news in one place.

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The Conversation

Is this the right budget for these economic times? We asked 5 experts

Treasurer Jim Chalmers has described the income tax cuts in this week’s federal budget as a “top-up”. They will amount to roughly one cup of coffee a week for every taxpayer in the first year.

The Independent UK

South Carolina wants to accelerate constant push to lower income taxes

The constant push to cut income taxes in South Carolina has accelerated significantly

Evening Standard

Income tax shock: London's bill hits nearly £64 billion a year

The bill for the two regions has jumped above £108 billion a year

The Independent UK

Income tax cuts and jobs at risk due to trade war, Donohoe says

Government plans for tax cuts may have to be postponed due to the threat of a global trade war, the finance minister has said.

The Guardian - AU

Australian budget 2025: where does the money come from and where does it go?

The halcyon days of back-to-back surpluses are over but you can expect more energy rebates and perhaps some surprise announcements

Kiplinger

Are You a High Earner But Still Broke? Five Fixes for That

If you're a HENRY (a higher earner, not rich yet) but feel like you still live paycheck to paycheck, there are steps you can take to get control of your financial future.

The Conversation

The viability of some charities could rest on how they’re taxed – we should be cautious about changing the rules

There have long been calls for New Zealand’s charity-linked businesses to lose their tax exemption status. Under the current rules, companies such as Sanitarium, which is wholly owned by the Seventh-day Adventist church pay no income tax.

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