House of Representatives Committees

| House of Representatives Standing Committee on Economics

Footnotes

Chapter 1 Introduction

[1] Australia’s Future Tax System Review, Final Report, Part 1 Overview, May 2010, Recommendation 9C, p. 82.

[2] Explanatory Memorandum, Tax Laws Amendment (2012 Measures No. 4) Bill 2012, p. 8.

[3] Explanatory Memorandum, Tax Laws Amendment (2012 Measures No. 4) Bill 2012, p. 8.

[4] Explanatory Memorandum, Tax Laws Amendment (2012 Measures No. 4) Bill 2012, p. 8.

[5] The Hon Wayne Swan MP, Treasurer, Media Release, Tax Measures in Mid-Year Economic and Fiscal Outlook, 29 November 2011.

[6] The Hon Wayne Swan MP, Treasurer, Media Release, Tax Measures in Mid-Year Economic and Fiscal Outlook, 29 November 2011.

[7] The Hon David Bradbury MP, Assistant Treasurer, House of Representatives Hansard, 28 June 2012, p. 30.

[8] The Hon David Bradbury MP, Assistant Treasurer, House of Representatives Hansard, 28 June 2012, p. 30.

[9] The Hon David Bradbury MP, Assistant Treasurer, House of Representatives Hansard, 28 June 2012, p. 30.

[10] The Hon David Bradbury MP, Assistant Treasurer, House of Representatives Hansard, 28 June 2012, p. 30.

Chapter 2 Analysis of the Bill

[1] Explanatory Memorandum, Tax Laws Amendment (2012 Measures No. 4) Bill 2012, p. 9.

[2] Explanatory Memorandum, Tax Laws Amendment (2012 Measures No. 4) Bill 2012, p. 11.

[3] Explanatory Memorandum, Tax Laws Amendment (2012 Measures No. 4) Bill 2012, p. 9.

[4] Explanatory Memorandum, Tax Laws Amendment (2012 Measures No. 4) Bill 2012, p. 8.

[5] The Australian Taxation Office, Fringe benefits tax – a guide for employers, <http://www.ato.gov.au/businesses/content.aspx?doc=/content/52023.htm>, viewed 6 August 2012.

[6] Explanatory Memorandum, Tax Laws Amendment (2012 Measures No. 4) Bill 2012, p. 9.

[7] Explanatory Memorandum, Tax Laws Amendment (2012 Measures No. 4) Bill 2012, p. 15.

[8] Explanatory Memorandum, Tax Laws Amendment (2012 Measures No. 4) Bill 2012, p. 13.

[9] Explanatory Memorandum, Tax Laws Amendment (2012 Measures No. 4) Bill 2012, p. 17.

[10] Explanatory Memorandum, Tax Laws Amendment (2012 Measures No. 4) Bill 2012, p. 18.

[11] Ms Norah Seddon, PricewaterhouseCoopers, Committee Hansard, 26 July 2012, p. 20.

[12] Mr Paul Ellis, Institute of Chartered Accountants, Committee Hansard, 26 July 2012, p. 16.

[13] Explanatory Memorandum, Tax Laws Amendment (2012 Measures No. 4) Bill 2012, p. 15.

[14] Explanatory Memorandum, Tax Laws Amendment (2012 Measures No. 4) Bill 2012, p. 9.

[15] Explanatory Memorandum, Tax Laws Amendment (2012 Measures No. 4) Bill 2012, p. 15.

[16] Explanatory Memorandum, Tax Laws Amendment (2012 Measures No. 4) Bill 2012, p. 17.

[17] Explanatory Memorandum, Tax Laws Amendment (2012 Measures No. 4) Bill 2012, p. 18.

[18] Nassim Khadem, ‘Tax change makes Australia less attractive to top talent’, BRW, 12 July 2012, available at <http://www.brw.com.au/p/sections/professions/

tax_change_makes_australia_less_LOFJs3lKsXxagj3tlug02M>

[19] The committee received over twenty submissions from employees who believed they would be negatively affected by the proposed changes to the tax concession for LAFH allowances and benefits.

[20] Australian Constructors Association, Submission 31, p. 3.

[21] Mr Daniel Wallace, Australian Manufacturing Workers’ Union, Committee Hansard, 26 July 2012, p. 14.

[22] Mr Piyush Bhatt, University of Sydney, Committee Hansard, 26 July 2012, p. 22; Ms Norah Seddon, PricewaterhouseCoopers, Committee Hansard, 26 July 2012, pp. 7, 22; Mr Adam James, Australian Constructors Association, Committee Hansard, 26 July 2012, p. 23.

[23] Institute of Chartered Accountants, Submission 29, p. [5].

[24] Mr Daniel Wallace, Australian Manufacturing Workers’ Union, Committee Hansard, 26 July 2012, p. 14.

[25] Institute of Chartered Accountants, Submission 29, p. 2; PricewaterhouseCoopers, Submission 36, p.7.

[26] Mr Daniel Wallace, Australian Manufacturing Workers’ Union, Committee Hansard, 26 July 2012, p. 13; Mr Timothy Payne, University of Sydney, Committee Hansard, 26 July 2012, p. 13.

[27] Ernst & Young, Submission 30, p. 17.

[28] Minerals Council of Australia, Submission 21, pp. 1-2.

[29] Ms Raylee O’Neill, Department of the Treasury, Committee Hansard, 26 July 2012, p. 12.

[30] Mr Daniel Wallace, Australian Manufacturing Workers’ Union, Committee Hansard, 26 July 2012, p. 12.

[31] Ernst & Young, Submission 30, p. 13.

[32] The Tax Institute, Submission 28, p. 9.

[33] Ernst & Young, Submission 30, p. 13.

[34] Explanatory Memorandum, Tax Laws Amendment (2012 Measures No. 4) Bill 2012, p. 21.

[35] Explanatory Memorandum, Tax Laws Amendment (2012 Measures No. 4) Bill 2012, pp. 19‑20, 22.

[36] Police Federation of Australia, Submission 23, p. 3.

[37] Mr Daniel Wallace, Australian Manufacturing Workers’ Union, Committee Hansard, 26 July 2012, p. 10.

[38] The Institute of Chartered Accountants, Submission 29, p. [6].

[39] Explanatory Memorandum, Tax Laws Amendment (2012 Measures No. 4) Bill 2012, p. 11.

[40] Explanatory Memorandum, Tax Laws Amendment (2012 Measures No. 4) Bill 2012, p. 25.

[41] Explanatory Memorandum, Tax Laws Amendment (2012 Measures No. 4) Bill 2012, p. 22.

[42] Explanatory Memorandum, Tax Laws Amendment (2012 Measures No. 4) Bill 2012, pp. 11-12.

[43] Explanatory Memorandum, Tax Laws Amendment (2012 Measures No. 4) Bill 2012, p. 25.

[44] Minerals Council of Australia, Submission 21, p. 2; Tax Institute, Submission 28, p. 4; Ms Norah Seddon, PricewaterhouseCoopers, Committee Hansard, 26 July 2012, p. 6.

[45] Australian Industry Group, Submission 33, p. 1.

[46] Mr Marty Robinson, Department of the Treasury, Committee Hansard, 26 July 2012, p. 25

[47] Mr Chris Leggett, Department of the Treasury, Committee Hansard, 26 July 2012, p. 28.

[48] Ms Carolyn Cleaver, Australian Constructors Association, Committee Hansard, 26 July 2012, p. 30.

[49] Mr Chris Leggett, Department of the Treasury, Committee Hansard, 26 July 2012, p. 31.

[50] Ms Carolyn Cleaver, Australian Constructors Association, Committee Hansard, 26 July 2012, p. 31.

[51] Mr Christopher Bailey, Australian Taxation Office, Committee Hansard, 26 July 2012, pp. 31-32; Mr Martin Jacobs, Department of the Treasury, Committee Hansard, 26 July 2012, p. 32.

[52] Mrs Teresa Dyson, Ashurst, Committee Hansard, 26 July 2012, p. 3; Mr Paul Stacey, Institute of Chartered Accountants, Committee Hansard, 26 July 2012, p. 6; Mr Robert Jeremenko, Committee Hansard, 26 July 2012, p. 6.

[53] Ashurst, Submission 27, p. 1.

[54] Mr Robert Jeremenko, Committee Hansard, 26 July 2012, p. 6; Ashurst, Submission 27, p. 4.

[55] Mrs Teresa Dyson, Ashurst, Committee Hansard, 26 July 2012, p. 8.

[56] Mr Martin Jacobs, Department of the Treasury, Committee Hansard, 26 July 2012, p. 8.

[57] Mr Paul Stacey, Institute of Chartered Accountants, Committee Hansard, 26 July 2012, p. 9.

[58] Institute of Chartered Accountants, Submission 29, p. 2.

[59] PricewaterhouseCoopers, Submission 36, p. 7.

[60] Ms Carolyn Cleaver, Australian Constructors Association, Committee Hansard, 26 July 2012, p. 10.

[61] Mr Paul Stacey, Institute of Chartered Accountants, Committee Hansard, 26 July 2012, p. 6.

[62] Ernst & Young, Submission 30, pp. 2-3.

[63] PricewaterhouseCoopers, Submission

[64] The Tax Institute, Submission 28, p. 3.

[65] Ms Carolyn Cleaver, Australian Constructors Association, Committee Hansard, 26 July 2012, p. 29.

[66] Institute of Chartered Accountants, Submission 29, p. 6.

[67] Australian Mines & Metals Association, Submission 26, p. 6.

[68] Mr Paul Stacey, Institute of Chartered Accountants, Committee Hansard, 26 July 2012, p. 9.

[69] The Tax Institute, Submission 28, p. 5.

[70] Explanatory Memorandum, Tax Laws Amendment (2012 Measures No. 4) Bill 2012, p. 25

[71] Explanatory Memorandum, Tax Laws Amendment (2012 Measures No. 4) Bill 2012, p. 26.

[72] Explanatory Memorandum, Tax Laws Amendment (2012 Measures No. 4) Bill 2012, pp. 25-26.

[73] Australian Industry Group, Submission 33, p. 5.

[74] See the Explanatory Memorandum, Tax Laws Amendment (2012 Measures No. 4) Bill 2012, p. 27, section 1.81.

[75] PricewaterhouseCoopers, Submission 36, p. 5.

[76] PricewaterhouseCoopers, Submission 36, p. 4.

[77] Mr Paul Ellis, Institute of Chartered Accountants, Committee Hansard, 26 July 2012, p. 6.

[78] Mr Paul Ellis, Institute of Chartered Accountants, Committee Hansard, 26 July 2012, p. 28.

[79] Mr Martin Jacobs, Department of the Treasury, Committee Hansard, 26 July 2012, p. 29.

[80] Department of Immigration and Citizenship, Responses to ‘Questions on Notice’, provided 3 August 2012.

[81] See for example: Mr Jason Ross, Submission 8, p. 1.

[82] Consult Australia, Submission 6, p. 2.

[83] Dr Marcus Hennig et al., Submission 20, p. 2.

[84] Ms Norah Seddon, PricewaterhouseCoopers, Committee Hansard, 26 July 2012, p. 28; Mr Adrian Tillin, Submission 7, p. 1; Mr Tim Harrisson, Submission 18, p. 1.

[85] Explanatory Memorandum, Tax Laws Amendment (2012 Measures No. 4) Bill 2012, pp. 29-30.

[86] Mr Martin Jacobs and Mr Chris Leggett, Department of the Treasury, Committee Hansard, 26 July 2012, p. 28.

[87] Mr Martin Jacobs and Mr Chris Leggett, Department of the Treasury, Committee Hansard, 26 July 2012, p. 28.