05 Aug 11 The Tax Institute in the media
The Tax Institute continues its thought leadership on tax reform in the Weekend Australian Financial Review of 30 July 2011. The editorial (p60) approvingly quotes our comments about the Govt's tax forum:
"[...] 'I hope we won't just be given sheets of butcher's paper to work it all out,' quips Tax Institute senior tax counsel Robert Jeremenko. It is a joke that poses a serious question for the government: is it serious about tax reform in the way it is serious about climate policy, or is the forum just going through the motions to satisfy the letter, if not the spirit, of the post-election deal? [...]"
Also in the Weekend Australian Financial Review we are quoted in two articles on page 8: "Suspect returns total $125m", in which we comment about complexity in the tax system and ease of compliance as well as the status of the tax system advisory board that has not progressed much of late; and "Refund plan too stingy", in which we comment on the latest stats on excess super contributions tax and recommend people seek advice.
We continue our comment on tax reform and the Government's forum in the Australian Financial Review of 1 August 2011. On page 6 we say: "We really need a timeline and process for taking this forward, so we can actually achieve real reform over the short to medium term when the economy is in a position to fund implementation of tax reform." The article goes on to mention that The Tax Institute is holding a debate at the end of this month in the run-up to the October forum.
The Australian Financial Review quoted The Tax Institute on Thursday 4 August 2011 "State blitz business tax rorts" (pg 1).The article relates to state tax compliance which was discussed at The Tax Institute's Annual State Taxes Conference last week. In the article, The Tax Institute says that "we are not surprised that the state revenue offices are stepping up their compliance efforts and starting to use technology more and more to obtain information from overseas."
The Australian Financial Review also quotes The Tax Institute (pg 8) in relation to GST and online sales "GST 'not worth effort'". In the article, The Tax Institute says "it doesn't make sense to spend more in administering the tax than what you would normally collect".
The Australian Financial Review contains comments from The Tax Institute (pg13) on the Productivity Commission report into retailing: In the article, we say "floating exchange rates and retail sector business practices should not be a determining factor in the development of tax policy".