Is Australia becoming a sovereign tax risk? paper

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.

Author profile

David Russell CTA-Life

David was admitted as a solicitor in 1974 and was called to the Bar in 1977. He was appointed Queen’s Counsel in 1986. David has lectured and written extensively on taxation related topics in Australia and overseas. David is a Barrister, Wentworth Chambers. - Current at 01 October 2014

More by David RUSSELL

• Are tax havens dead? paper - 18-March-2015
• The so-called “carbon tax”: Is the law a law with respect to taxation? - 01-October-2012
• Some aspects of administrative penalties under the Taxation Administration Act 1953 - 01-August-2012
• A return to sovereign risk - 01-July-2012
• Tax and climate change – New horizons for tax practitioners paper - 16-May-2008
• Tax & climate change – New horizons for tax practitioners paper - 13-April-2008
• Tax and climate change – new horizons for tax practitioners - 01-June-2007
• Litigating with the ATO – What You Need to Know paper - 25-May-2007
• Managing tax disputes paper - 13-October-2005
• Sir Harry Gibbs - 01-August-2005
• The Chancellor's Foot and the Commissioner's Nose seminar paper - 29-June-2004
• Transfer Pricing - Recent Australian Developments - 27-February-2004
• A view from the front seat - 01-October-2001
• Capital Allowances - 18-May-2001
• A climate of change - working asset deductions - 03-August-2000
• The profits first rule - 15-February-2000
• Small business rollover and exemption provisions - 24-October-1999
• What is the future of the Income vs Capital distinction? - 09-September-1999
• Superannuation - 15-June-1999
• Tax Law Improvement Project - 30-May-1997
• Substance versus form: the ATO approach: 2 - 19-March-1997
• Trends in deductible expenses paper - 28-September-1995

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