CAPITAL GAINS TAX – GOVERNMENT POLICY – AUSTRALIA

Turnbull: no change to capital gains tax

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Original article by Sid Maher
The Australian – Page: 1 & 4 : 23-Feb-16

The Australian Government’s options for tax reform have become more limited after Prime Minister Malcolm Turnbull told Parliament that changes to the capital gains tax regime are not on its agenda. Turnbull warned that the Opposition’s proposed capital gains tax reforms will deter investment in Australia, while its policy on negative gearing would adversely affect house prices. Changes to superannuation tax concessions and tax deductions for work-related expenses are among the few tax reform options that are still available to the Government.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF FINANCE, BUSINESS COUNCIL OF AUSTRALIA, BLUESCOPE STEEL LIMITED – ASX BSL, PROPERTY COUNCIL OF AUSTRALIA LIMITED, AUSTRALIAN NATIONAL UNIVERSITY, AUSTRALIA. DEPT OF THE TREASURY, NEWSPOLL

Turnbull’s bright idea: $1bn to drive innovation

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Original article by Philip Hudson, Sid Maher
The Australian – Page: 1 & 2 : 7-Dec-15

A capital gains tax exemption for investors in business start-ups will be included in the Australian Government’s innovation and science statement, which will be launched on 7 December 2015. Meanwhile, a new cabinet committee will be responsible for co-ordinating the government’s expenditure on research and science, while the CSIRO will receive around $A100m in additional funding. The package is also believed to include measures aimed at encouraging more people to study sciences, technology, ­engineering and mathematics.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, CSIRO, DATA61, NATIONAL ICT AUSTRALIA LIMITED, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, OZEMAIL LIMITED, AUSTRALIAN LABOR PARTY, BUSINESS COUNCIL OF AUSTRALIA, SCIENCE AND TECHNOLOGY AUSTRALIA, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA