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  • Australia tops the charts... in tax deductions

    Posted 29/01/2014 by Hannah Gobbett

    In the International Monetary Fund (IMF)’s recently released ‘Reforming Tax Expenditures in Italy: What, Why, and How?’, Australia was found to forgo more revenue as a proportion of GDP than all other OECD nations.

    Although tax expenditures result in the government forgoing revenue, they have not been widely scrutinized and cannot be comprehensively measured. As a method through which specific groups, sectors, regions and activities receive a ‘myriad of discounts in the tax code’, tax expenditures continually arise as the subject of debate.

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    TAGS: taxation

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  • Announcements end superannuation budget speculation?

    Posted 8/04/2013 by Kai Swoboda
    Image source: QLD government
    Following recent media speculation about possible changes to superannuation in the upcoming 2013–14 Budget and concerns about the inequity of tax concessions for superannuation, on 5 April 2013 the Government announced a range of measures to superannuation tax, contribution and age pension arrangements. The Government’s overall intent in making these changes was to ‘improve the fairness, sustainability and efficiency of the superannuation system’. So what are the major changes proposed by the Go... Read more...

    TAGS: federal budget, superannuation, taxation

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  • Fuel tax credits: are they a subsidy to fuel use?

    Posted 3/05/2012 by Richard Webb
    Image source: Victoria DPI
    Recently there has been debate over the nature of the rebate of the excise paid on fuels, paid under the fuel tax credits scheme. This FlagPost clarifies the purpose of the rebate.The excise on petrol and diesel is a tax on business inputs as well as on final use by households. Businesses using petrol and diesel as inputs into production processes pay excise of 38.143 cents per litre. Under the fuel tax credits scheme, eligible businesses can claim a rebate—in full or in part—of the excise th... Read more...

    TAGS: fuel, rebate, taxation

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  • Carbon pricing mechanism—personal income tax reform

    Posted 20/07/2011 by Paige Darby
    Image source: yourhome.gov.au
    As part of its Clean Energy Future package, the Government has announced a series of personal income taxation reforms. This will involve increases to the marginal taxation rates in 2012-13 and 2015-16, as well as changes to the tax free threshold and low income tax offset. The Parliamentary Library has prepared a brief on the proposed changes, which is available on its climate change website. The brief presents the details of the proposed tax reform, compares it to the personal income tax reform... Read more...

    TAGS: Carbon Pricing Mechanism, taxation

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  • Carbon Pricing Mechanism—Which 500 companies pay the tax?

    Posted 14/07/2011 by Anita Talberg
    Image source: NSW Government
    The Government has been clear that only Australia’s 500 biggest ‘carbon polluters’ will be directly affected by the proposed Carbon Pricing Mechanism (CPM). This is down from the 1000 that would have been liable under the previous Carbon Pollution Reduction Scheme, mainly due to the exclusion of fuels from the CPM. There has been some speculation as to which companies would be included in the Government’s list of 500, and which ones are Australia’s ‘top 50 carbon polluters’. The Parliamentary Li... Read more...

    TAGS: Carbon Pricing Mechanism, climate change, taxation

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  • The 2011 tax forum and the 1985 tax summit

    Posted 23/03/2011 by Paige Darby
    On Sunday 20 March 2011, the Treasurer announced in an Economic Note that a Tax Forum would be held on 4–5 October 2011 at Parliament House. This announcement has sparked interest in the potential scope of the tax forum, and the similarities that can be drawn to the Tax Summit held by the Hawke Government in 1985.The commitment to convene a tax forum was included in letters to Mr Tony Windsor MP and Mr Rob Oakeshott MP as part of the agreement to form a minority government after the 2010 electio... Read more...

    TAGS: taxation

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