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Entertainment Celebrities hit with 'fame tax' in budget

23:06  08 may  2018
23:06  08 may  2018 Source:   thefix.nine.com.au

Comment: The question Scott Morrison will not answer

  Comment: The question Scott Morrison will not answer There is one big question Scott Morrison does not want to answer about the tax cuts he will reveal on Tuesday night. Will the government honour its rule of allowing any improvements in tax revenue to be “banked” on the budget bottom line?This is the rule imposed after the global financial crisis to guard against political decisions that spend any revenue gains that are otherwise needed to produce a surplus. The question goes to the heart of the debate on whether the country can afford the new income tax cuts.

Celebrities will be hit with new rules on their image rights to make sure they're not dodging their income tax . Tuesday's federal budget contains a ' fame tax ' that will make sure celebrities and high-profile people who licence their image rights to other companies pay tax on all the income and

CELEBRITIES will be hit with new rules on their image rights to make sure they’re not dodging their income tax . Tuesday’s federal Budget contains a ‘ fame tax ’ that will make sure celebrities and high-profile people who licence their image rights to other companies pay tax on all the income and

Celebrities will be hit with new rules on their image rights to make sure they're not dodging their income tax.

Tuesday's federal budget contains a 'fame tax' that will make sure celebrities and high-profile people who licence their image rights to other companies pay tax on all the income and non-cash benefits they receive.

Celebrities can currently licence their image rights to a business, which can claim losses on the investment, and then pay just 30 percent tax on the profits.

"This measure will ensure that all remuneration (including payments and non-cash benefits) provided for the commercial exploitation of a person's fame or image will be included in the assessable income of that individual," the 2018/19 budget says.

The money raised from the change is "unquantifiable", the budget said.

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