08 May 07 Taxation Institute says "Is everyone a winner in the 2007-8 budget?""There is no doubt that many low and middle income Australian taxpayers are winners under the 2007-08 Budget" commented Peter Moltoni, President of Taxation Institute. "It also clear that there are substantial wins for business in general, including small business".
However, the Taxation Institute is concerned that the Government has only been selective about reducing the complexity of our tax laws in this Budget. In going forward, we continue to encourage the Government to work towards simplifying the tax system and a good place to start is by removing the complexities that exist due to the wide gap between the corporate tax rate and the highest marginal tax rate for individuals.
For a copy of the President Press Release go here