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The Institute of Financial Professionals Australia Profile
The Institute of Financial Professionals Australia

@IFPA_AU

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Our mission is to educate & empower tax and super professionals. As an advocate for professionals, we support today's practitioners so they can thrive tomorrow.

Melbourne, Victoria
Joined June 2013
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@IFPA_AU
The Institute of Financial Professionals Australia
2 years
Here is a Whacky Tax Fact for you: In Sweden, if you repair household items such as bicycles, shoes, or clothes, you can claim a tax deduction for the labor costs of the repair.
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@IFPA_AU
The Institute of Financial Professionals Australia
2 years
Superannuation Surprise: In 2011, a woman in Australia received a superannuation statement addressed to her pet cat, Oliver. The cat was listed as having a retirement savings balance of over $10,000. It turned out to be an administrative error, which certainly raised eyebrows!
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@IFPA_AU
The Institute of Financial Professionals Australia
2 years
Here is a Whacky Tax Fact for you: In the United States, a tax on sugar was first imposed in 1791 to help pay off debt from the Revolutionary War.
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@IFPA_AU
The Institute of Financial Professionals Australia
2 years
Here is a Whacky Tax Fact for you In Denmark, there is a “fat tax” on foods high in saturated fats.
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@IFPA_AU
The Institute of Financial Professionals Australia
3 years
Whacky Tax Fact for you: In Russia, tax authorities used to allow deductions for expenses incurred while travelling to the moon.
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@IFPA_AU
The Institute of Financial Professionals Australia
3 years
A Whacky Tax Fact for you: In the Republic of Chad, camels are taxed, but only if they have two humps.
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@IFPA_AU
The Institute of Financial Professionals Australia
3 years
Here is a Whacky Tax Fact for you: In the state of Pennsylvania, you can be taxed on the privilege of marriage.
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@IFPA_AU
The Institute of Financial Professionals Australia
3 years
Here is a Whacky Tax Fact for you: In France, there's a tax on televised images of famous buildings like the Eiffel Tower, so that they can earn money from the commercial use of these iconic landmarks.
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@IFPA_AU
The Institute of Financial Professionals Australia
3 years
Whacky Tax Fact for you: In Alaska, there is no state sales tax, but there is a tax on the rental of a safe deposit box.
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@IFPA_AU
The Institute of Financial Professionals Australia
3 years
Here is a Whacky Tax Fact: Playing cards were taxed as early as the 16th century, but in 1710, the English government dramatically raised taxes on playing cards and dice. This led to widespread forgeries of playing cards to avoid paying taxes. The tax was not removed until 1960.
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@IFPA_AU
The Institute of Financial Professionals Australia
3 years
Here is a Whacky Tax Fact for you- In 1660, England placed a tax on fireplaces. The tax led to people covering their fireplaces with bricks to conceal them and avoid paying the tax. It was repealed in 1689.
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@IFPA_AU
The Institute of Financial Professionals Australia
3 years
Did you know: The ATO have advised that they are increasing the ways they use Single Touch Payroll (STP) data to simplify employer reporting obligations. Read more in our daily updates - https://t.co/3E2uj2f5JW
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@IFPA_AU
The Institute of Financial Professionals Australia
3 years
Here is a Whacky Tax Fact for you: In 1982, Madison Square Garden was granted a 10-year property tax abatement. However, a clerical error led to the abatement being permanent. This has cost New York City approximately $200 million in tax revenue.
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@IFPA_AU
The Institute of Financial Professionals Australia
3 years
The Last events for 2022! Our events let you learn wherever you are with sessions available both live and on demand. Make sure you register for our upcoming Events! Webinars | Seminars | Discussion Groups View our upcoming events here: https://t.co/prMnzzaKfF
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@IFPA_AU
The Institute of Financial Professionals Australia
3 years
Here is a Whacky Tax Fact for you: In 2011, the country of Romania was trying to pull itself out of a steep recession, decided to add a new profession to the country’s labor code, making it subject taxation. The profession? Witchcraft.
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@IFPA_AU
The Institute of Financial Professionals Australia
3 years
Here is a Whacky Tax Fact for you: The first known taxes were in Sumer (Mesopotamia) almost 5,000 years ago. They were recorded on clay cones and paid in livestock.
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@IFPA_AU
The Institute of Financial Professionals Australia
3 years
Here is a Whacky Tax Fact for you: In 1935, the US tax code’s highest income tax bracket (63 percent) applied to only one person: Nelson Rockefeller, who earned over $5 million the previous year.
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@IFPA_AU
The Institute of Financial Professionals Australia
3 years
Did you know: In the light of recent major data breaches, the ATO has released guidance on how to help in the protection of personal information and strengthen defences in the event that personal information is breached. Read more in our daily updates - https://t.co/gKQMoX7jqc
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@IFPA_AU
The Institute of Financial Professionals Australia
3 years
Here is a Whacky Tax Fact for you: There are more words in the tax code than there are in the Bible. The tax code is about 4 million words long.
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@IFPA_AU
The Institute of Financial Professionals Australia
3 years
All existing directors of a company, registered Australian body, registered foreign company, or a director of corporate trustees of an SMSF are required to apply for a director identification number (director ID) by 30 November 2022…so act now!
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