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13 Jun 08 Entity flow-through tax regime referred to Henry Tax Review

In a media release issued on 11 June 2008, the Minister for Small Business, Independent Contractors and the Service Economy, Dr Craig Emerson, announced that the Government has decided to refer the entity flow-through proposal to the review of Australia's Future Tax System headed by Treasury Secretary Ken Henry. The entity flow-through tax regime, developed by the Institute of Chartered Accountants and Deloitte, proposes that ownership arrangements will be set to one side for income tax purposes. Instead, the entity is treated like a partnership with owners taxed at their marginal rates.

For a copy of the Minister's media release, 11 June 2008, go here

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