Original article by Adam Creighton, Joe Kelly
The Australian – Page: 1 & 2 : 3-Aug-17
Former Commonwealth Bank chairman John Ralph says the Federal Opposition’s proposal to impose a tax rate of 30 per cent on the distributions of discretionary trusts appears to be aimed at increasing tax revenue. Ralph, who headed a business tax review in 1999, adds that taxing trusts at the same rate as companies could merely prompt growth in the use of alternative structures to reduce tax liability. He also says the measures – which Opposition Leader Bill Shorten claims are aimed at addressing the issue of inequality – will have an adverse effect on economic growth and Australia’s competitiveness.
CORPORATES
AUSTRALIAN LABOR PARTY, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIAN TAXATION OFFICE, UNIVERSITY OF MELBOURNE. INSTITUTE OF APPLIED ECONOMIC AND SOCIAL RESEARCH, INTERNATIONAL MONETARY FUND, AUSTRALIA. FAIR WORK COMMISSION
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