CORPORATIONS – TAXATION – AUSTRALIA

Treasury: Tax stuck in the ’50s

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Original article by Patrick Durkin
The Australian Financial Review – Page: 8 : 4-Dec-14

Federal bureaucrat Dr Martin Parkinson says Australia’s tax system is outdated and is adversely affecting the nation’s international competitiveness. He argues that tax reform is essential as the tax regime has not changed significantly since the 1950s. The outgoing head of the Treasury says that reducing the personal and corporate rate rates in particular is needed. Meanwhile, business leader Tony Shepherd has called for changes to the GST

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. NATIONAL COMMISSION OF AUDIT, PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD

Big business ‘shirks’ fair share of tax load

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Original article by Heath Aston, Georgia Wilkins
The Sydney Morning Herald – Page: 1 : 29-Sep-14

Trade union United Voice and the Tax Justice Network have issued a new study on the tax paid by the 200 largest listed companies in Australia. "Who Pays for Our Common Wealth?" shows that 84% of these groups pay below the supposed rate of 30%, and close to a third pay less than 10%. Tax havens are used by nearly 60% of the corporations, via subsidiaries. However Corporate Tax Association CEO Frank Drenth disputes the analysis

CORPORATES
CORPORATE TAX ASSOCIATION, TAX JUSTICE NETWORK, UNITED VOICE, GROUP OF TWENTY (G-20), STANDARD AND POOR’S ASX 200 INDEX, 21ST CENTURY FOX INCORPORATED, TOLL HOLDINGS LIMITED – ASX TOL, ECHO ENTERTAINMENT GROUP LIMITED – ASX EGP, THE STAR, JAMES HARDIE INDUSTRIES PLC – ASX JHX, SYDNEY AIRPORT – ASX SYD, AUSTRALIAN TAXATION OFFICE, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, UNIVERSITY OF TECHNOLOGY, SYDNEY, FAIRFAX MEDIA LIMITED – ASX FXJ, AUSTRALIAN NATIONAL UNIVERSITY, TAXATION INSTITUTE OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY

Company tax uncompetitive

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Original article by Mark Ludlow, Jacob Greber
The Australian Financial Review – Page: 3 : 20-Aug-14

The Australian Government plans a 1.5 per cent reduction in the 30 per cent corporate tax rate by the end of 2014-15. However, economist John Edwards has called for a more aggressive reduction in the corporate tax rate in order to make the nation more competitive internationally. Switzerland’s company tax rate of just 18 per cent was a key factor in CSL’s decision to invest $A500m in a new factory in that country rather than Australia

CORPORATES
CSL LIMITED – ASX CSL, RESERVE BANK OF AUSTRALIA, COMMITTEE FOR ECONOMIC DEVELOPMENT OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, GROUP OF TWENTY (G-20)