Categories
Funny Stuff

Fairfax at it again

The report will I think make it almost impossible politically for this government to sell its austerity program or its GST “reform” proposals. The mantra that Australia has a spending problem, not a revenue problem, looks hollow in the light of the low tax contribution from big business. And so Fairfax runs the same argument […]

Categories
Tax Policy

Arrr, the Greens

The Greens have done it again. When you put out a press release titled “Axing just 4 unfair tax breaks would plug Budget revenue hole” you are going to get me excited. With a yearly budget deficit of $35-40 billion I was desperate to see what 4 tax breaks can raise this amount each year. But it […]

Categories
Income Tax Legislation Planning Stuff Tax Policy

Innovation Tax Changes

Why does “innovation” have anything to do with tax changes? In the Government’s Innovation Statement most of the expenditure is making tax changes. Tax is a revenue raising device… Not a method to change people’s actions. When you use tax policy to do anything other than raise revenue you get bad policy. But here are […]

Categories
GST Legislation

GST for non-residents made easy

It has been out for a while, but there is some draft law that proposes big changes to GST. The first part of the draft Tax Laws Amendment (GST treatment of Cross-Border Transactions) Bill is exactly as we expected… The government will impose GST on offshore intangible supplies to Australian consumers from 1 July 2017. […]

Categories
Legislation Tax Policy

What are we waiting for…

Each December I try to wrap up the year with the tax promises that have not quite made it into law. While the list has VERY, VERY SLOWLY, getting shorter, there are still a number of measures that are yet to get in to the tax laws. And remember, after the last election, this Government […]

Categories
Income Tax Tax Policy

What a waste of time

It is stupid tax policy made worse… From 1 July 2016 there will be a 10% non-final withholding tax on payments made to foreign residents that dispose of certain  property. The effect of this will be that where a foreign resident disposes of Australian property, the purchaser will be required to withhold and pay to […]