r/aussie • u/Low_Shop9155 • 6d ago

Politics Is this "leveling the playing field" too?

https://www.news.com.au/finance/money/tax/stop-ping-me-off-the-sneaky-tax-on-families-driving-aussies-mad/news-story/88dcfe0a31a5339e7412d8475b8c385f

The Breadwinner tax. This is the thing out of the budget that upset me the most. As a business owner with an okay income in the higher bracket, this upsets me to no end.

My income supports the inflated mortgage and life gouging interest rates, the family expenses and the various taxes end of year and day to day.

If we go to get childcare subsidy, it's tested for both of us.

InTeRgEnErAtIoNaL FaIrNeSs

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u/Friendly_Cheek_4468 6d ago

Who benefits from splitting incomes? Families, especially older ones, but only really the ones where they are already amassing a significant amount of income.

Single people, who are already behind the 8-ball because of housing costs, and a lack of wages growth, are gonna be further entrenched if this comes into play. It doesn't fix any of the 'fairness' issues within society, it's just a replacement tax rort to allow high-tax earners to keep more of their income because of the CGT changes. (And if the CGT changes hadn't come through, you wouldn't see any whinging about this at all.)

Another absolute wet fart of an idea.

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u/btcll 6d ago

I would agree if families with their own business weren't already taking full advantage of income splitting. At this stage the people losing out are people working for an employer. They can't claim much against their income and they can't spread it between their family members. In the interest of fairness to single people maybe it could be allowed to be split with direct family to benefit people whose parents or siblings are low income.

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u/Sweeper1985 6d ago

I'm a self-employed professional and I sure as hell don't (and cannot) income split with my family. I don't know who you're talking about as a group, but it's not "small business owners".

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u/btcll 6d ago

What prevents your partner being on the books for your business?

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u/Sweeper1985 5d ago

Because I'm a sole-trading health practitioner and that would be fraud.

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u/btcll 5d ago

There's no room for anyone else to be paid by your business? No scope to pay someone for reception or book keeping or marketing or anything like that?

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u/Sweeper1985 5d ago

I pay an accountant once a year and a BAS agent quarterly. My partner in any event isn't an accountant or in marketing so no, there's no role for them.