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Fact or fiction? A sustainable tax transparent form for closely held businesses in Australia


Currently a comprehensive review is being undertaken of the Australian tax system (the Henry Review). One of the potential reforms to be considered by the Henry Review is a proposal by the Institute of Chartered Accountants Australia and Deloitte for the introduction of a tax transparent company (the ICAA proposal). The ICAA proposal argues that tax transparency applying to closely held corporations and unit trusts will reduce their compliance burden and facilitate an enhanced tax system for micro-enterprises. If the claims made in the ICAA proposal are accurate, it could be contended that a tax transparent company provides a more sustainable tax system for closely held businesses in Australia.

Author profile

Dr Brett Freudenberg CTA
Brett is a Professor – Taxation at Griffith University (Australia). Brett is known for his research expertise in the tax law and policy issues facing private enterprises, as evidenced by his Fulbright Scholarship (2006) and over 70 refereed publications in leading Australian and international journals. In 2020, he was awarded the national ATTA-Hill medal in recognition of outstanding contribution to Australasian tax policy and tax teaching. Professor Freudenberg’s research has analysed whether Australia should introduce a tax flow-through company, the tax treatment of discretionary trusts and the motivation for choice of business structure. His research has also considered the tax issues confronting private enterprises, reforms for enterprises in the arts sector, as well as to facilitate Islamic finance. Professor Freudenberg’s research has informed government policy as he was invited to present his PhD research findings to the Australian Treasury as part of the Henry Tax Review. Also his PhD was awarded the CCH-ATTA Doctoral Prize which saw it published as a book in 2011: Tax Flow-Through Companies. Brett is passionate about education being a transformative process, and his effectiveness as a teacher has been recognised through five national awards (including the award of two Australian Learning and Teaching Council citations: 2008 & 2011). - Current at 17 April 2020
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