Published on 02 May 13
by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE
How on earth did Australia become a country with sovereign risk concerns? We have gone from a position of being a strong, safe democracy with a reliable (if expensive) tax system, to being viewed as increasingly expensive for investment due to the myriad of “boutique taxes” being introduced – not to mention the additional costs to comply and understand these taxes.
David Russell, QC, CTA (Life) looks at the impact of recent tax policy changes and the ongoing uncertainty on the attractiveness of Australia as an investment destination, including the impact of:
- retrospective legislation
- unknown legislative rules
- inappropriate considerations being taken into account in legislative policy
- impact of the mining tax and the carbon tax on existing long-term investments.
David is admitted to practice in New South Wales, Queensland, Victoria, the Northern Territory, the Australian Capital Territory, New Zealand, Papua New Guinea and the Courts of Dubai International
Financial Centre. He was first appointed Queen’s Counsel in 1986 and holds that office in all the above Australian jurisdictions. He currently practices in Sydney (Ground Floor Wentworth Chambers) and Brisbane (Sir Harry Gibbs Chambers) with a principal focus on revenue law generally. He has acted for Commonwealth and State Governments as well as individuals and corporations. He has had a long connection with the Taxation Institute of Australia including being its President from 1993 to 1995 and President of the Asia Oceania Tax Consultants Association from 1996 to 2000.
Current at 17 May 2008
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