Taxpayers confused by new laws
IF YOU'RE confused by recent changes to tax laws, you're not alone.
Australia's largest private survey of taxpayers shows taxpayers feel less-informed about new taxes and lower confidence in having sufficient understanding to individually complete their own tax returns.
The 2012 online survey of 3733 taxpayers, conducted exclusively for H&R Block, reveals a third of all taxpayers believe completing a tax return is more complex, with up to two thirds saying they had little or no understanding of most tax issues.
H&R Block regional director Frank Brass said a majority of Australians said they did not understand the Education Tax Refund, Medical Expense Tax Offsets, negative gearing rules, capital gains and even how the flood levy applies.
"There is little wonder 70% of all Australian taxpayers seek specialist tax advice," Mr Brass said.