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The Latest Breaking News from Income Tax

Some taxes are inefficient at any level. Even modest reforms will help

Australia’s tax system has come under scrutiny again ahead of the government’s reform roundtable later this month. Economists argue we could raise the same revenue with less economic harm by relying more on efficient taxes and less on inefficient ones.

The Conversation

5 Things the Wealthy Should Do To Prepare for Trump’s Income Tax Plan

Trump's "One Big Beautiful Bill," recently signed into law, overhauls the federal tax code and reshapes how high earners manage wealth, investments and planning

GOBankingRates

Who Would Benefit the Most From Trump’s Proposed Income Tax Plan?

While some economists have questioned the viability of this plan, if it were to happen, here's who might benefit most from the tax plan, according to experts.

GOBankingRates

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I Asked ChatGPT What Would Happen if Trump Ended Income Taxes — There’s Good News and Bad News

Trump’s plan to replace income taxes with tariffs -- per a tax policy breakdown by ChatGPT -- could raise prices, slash federal revenue and widen inequality.

GOBankingRates

What Trump’s Income Tax Plan Means for the Economy and Your Wallet

While the idea of eliminating income taxes sounds appealing to a lot of people, here's what replacing those taxes with tariffs could mean for the economy and your wallet.

GOBankingRates

The IRS Is Now 25 Percent Smaller (and, Hopefully, Less Dangerous)

We still need real tax reform and much lower federal spending.

Reason

Great for Retirees: 12 States With Low Taxes and Low Cost of Living

Here are a dozen states that offer the best of both worlds for retirees who are looking to relocate.

GOBankingRates

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The Productivity Commission has proposed a ‘cashflow tax’ for business. What does that mean?

The fact businesses cannot deduct financing costs means companies like coalminer Adani would not be able to avoid paying virtually any tax

The Guardian - AU

5 Countries With the Most Wealth Equality

In the U.S. News & World Report ranking of income equality in 89 countries, the U.S. came in at No. 24. The following five countries came in on top.

GOBankingRates

6 Retirement Accounts That Penalize for Early Access Without Warning

Saving for retirement is a big deal. You work hard, put money away, and hope it grows. But what if you need that money before you turn 59½? Many people don’t realize that some retirement accounts hit you with penalties if you take money out early. These penalties can shrink…

Clever Dude

Georgia Could Be Latest State to Eliminate Income Taxes

Eliminating the Georgia state income tax: Last-minute summer trend or permanent policy?

Kiplinger

The biggest voices need to admit Australia is a low-taxing nation before joining the economic reform conversation

Acoss’s new report factchecks some myths about Australia’s tax system and should be the basis of any discussion at the government’s roundtable

The Guardian - AU

How money bills are being used to evade parliamentary debate on crucial matters

Over the last decade, some of the most significant legislations have been passed in Parliament with minimal debate in both houses. The Aadhar Act of 2016, amendments to the Prevention of Money Laundering Act (PMLA) and the Income Tax Act of 2025 are all examples of laws pushed through the…

Newslaundry

Take It From a Tax Attorney: This Is a Magic Multimillion-Dollar Tax-Saving Strategy

The qualified small business 1202 stock exemption is a $10 million exclusion that seems too good to be true and is often overlooked.

Kiplinger

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Evening Standard

OPINION - Will the income tax threshold freeze be extended? ...The Standard podcast

Listen here on your chosen podcast platform.

Evening Standard

How higher tax brackets in the UK compare to other major nations

UK taxes are relatively high, especially for middle and high-income earners, but how does that compare to other nations?

Clever Dude

Why Retirees Are Suddenly Leaving Florida in Record Numbers

Florida has long been the dream destination for retirees. The warm weather, beaches, and no state income tax have drawn people from all over the country. But something has changed. More retirees are packing up and leaving Florida than ever before. This shift matters because it affects not just those…

The Guardian - UK

UK politics: Tories’ energy policy shows they are ‘anti-science, anti-jobs, anti-future’ Miliband tells MPs – as it happened

Energy secretary says it is not clear if opposition have any net zero policy

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Evening Standard

Tax rises: Freeze on income tax thresholds for millions left on table by Treasury minister Darren Jones

The Government has promised not to raise the ‘headline rate’ of income tax but has left open the possibility of freezing the thresholds for paying the levy

GOBankingRates

Top 8 States To Move To If You Don’t Want To Pay Taxes on Social Security

If you're wondering which states are best for retirees, GOBankingRates looked into which states have the lowest taxes.

Clever Dude

What Moving to a Low-Tax State Really Does to Your Bills

Thinking about moving to a low-tax state? You’re not alone. Many people look at their tax bill and wonder if life would be easier somewhere else. The idea is simple: pay less in taxes, keep more of your money. But the reality is more complicated. Your bills don’t just shrink…

The National (Scotland)

Ross Greer: It's time for Scotland to pivot towards wealth taxation

ROSS Greer has said Scotland must pivot towards wealth taxation as he launched his bid to become co-leader of the Greens.

The Independent UK

Starmer opens the door for stealth tax extension as he tries to balance books

During a fiery PMQs, Keir Starmer ruled out increases to income tax, VAT and national insurance – but could not answer questions on wealth taxes or a freeze on tax thresholds

International Business Times UK

Trump's One Big, Beautiful Bill to Eliminate Taxes on Social Security Benefits for 90% of Recipients

The Social Security Administration stated that US President Donald Trump's bill will eliminate federal income taxes on Social Security benefits to offer immediate relief to seniors.

The Conversation

Tax season in South Africa: the system is designed to tackle inequality – how it falls short

South Africa’s personal income tax system is in the spotlight as the country’s tax filing season gets under way. Personal income tax is an important way of redistributing income from higher-earning to less-well-off individuals.

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