Published on 01 Jan 94
by Australian Tax Research Foundation
This study is a contribution to the debate which was created by the release of Taxation of Financial Arrangements: a Consultative Document by the Australian Tax Office. The paper raises a number of important questions which needed to be resolved before the debate on this issue could be settled. The paper argues that the current system for taxing financial arrangements is ad hoc and haphazard. However, the paper suggests that the ATO proposals in the consultative document are inadequate, particularly the failure to adequately account for compliance costs and its non-neutral for impact.
Daniel is a consultant and lecturer specialising in derivative products. He conducts seminars throughout Australia and South East Asia and lectures in finance for Macquarie University, UTS
and Monash University.
Tom Valentine has established a high profile over the past twelve years as a leading educator in banking and corporate finance. He designed and inaugurated two Masters degrees in finance through Macquarie University and Kuring-gai College and is currently Visiting Professor at Monash University lecturing in Australia and South East Asia and is Adjunct Professor at Southern Cross University, involved in the MBA program. He has published a number of books and financial papers, and is an occasional columnist for the Australian Financial Review.