People in glass houses...

29 March 2016
| By Outsider |
image
image image
expand image

Outsider once lived and worked in Canberra and so he knows the sort of denizens who inhabit the national capital and roam the corridors of the bureaucracy and Parliament.

Thus, he nodded sagely when he read the following comment from H&R Block's director of communications, Mark Chapman about those suggesting we should all be denied the ability to claim work-related tax deductions.

"One of the proposals which has been widely floated is the abolition (or substantial reform) of our current system of work-related deductions. The perception appears to have taken hold - fed by some over-enthusiastic tax policy wonks and ex-ATO staff - that work-related deductions are essentially one big rort on the tax system".

So tell us what you really think, Mark.

Outsider agrees. Indeed, he has frequently considered the cheek of those Commonwealth public servants in Treasury and Finance, some of them still enjoying the benefits of the generous public service defined benefits scheme, who argue that the tax concessions directed towards superannuation are both unsustainable and unfair.

Policy wonks beware! Outsider and Mark have your number.

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

4 months 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

5 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

7 months ago

Commonwealth Bank has formally dropped to zero advisers following LGT Crestone’s acquisition of its advice arm – some six years on from the Hayne royal commission. ...

3 weeks 5 days ago

The FSCP has issued a written direction to an adviser who charged clients “extraordinary fees” for inappropriate and conflicted advice, as well as encouraged them to swit...

1 week 1 day ago

ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager. ...

2 weeks 4 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
92.15 3 y p.a(%)
3