11 May 12 The Tax institute in the Media
The Tax Institute was quoted in The Australian Financial Review online on 6 May 2012: “Swan confirms $300k refunds for loss-makers” and in The Australian Financial Review print edition on 7 May: “Who stumps up for small business break”, with regards to the announced loss carry-back measure. We were also quoted in Smart Company: “Government unveils new loss carry-back tax break, but experts warn most small businesses not eligible”. In the articles we comment that the loss carry-back proposal is a step in the right direction for small business, but note concerns as to the offsetting savings measures that may be announced to fund the proposal.
Further to our small business roundtable of last week, we received coverage in The Courier Mail on 7 May: “Traders say red-tape hampers growth” and In-Business magazine (SA): “Small Business definition needed to cut compliance burden – Tax Institute”.
On 8 May we commented in The Canberra Times on the ACT Government’s release of its Tax Review: “Package gets crossbench support but Libs stay outside the tent”. We say that the Government has gone a long way to at least putting on the table, the need for reform in the areas of inefficient State and Territory taxes. Click here to see full article.
On Budget day, 8 May, The Australian Financial Review published an opinion piece from us entitled: “Tax break: who will pay the piper?”. It concerns the loss carry-back measure and possible savings measures to fund it.
We also received coverage of our Budget predictions in Smart Company: “Federal Budget 2012: 13 things to expect”.
After the Budget ‘lock-up’ we issued a press release: “Budget 2012: Government shuns simplification and shies away from reform”. This was widely reported in media including: AAP, The Sydney Morning Herald, Brisbane Times, NineMSN, and BusinessSpectator.
I commented on the Budget changes on camera at the Press Gallery 'doorstop' in Canberra with all of the major TV and radio networks. This was followed by interviews with ABC radio, 2GB, 2DayFM, 2SM, 2UE and 3AW. Part of my commentary was broadcast on ABC TV’s ‘The Business’ program that night.
On Wednesday 9 May The Australian Financial Review published our Budget wish list accompanied by a colour photograph. Click here to see full article.
Commentary also featured in two Smart Company articles on the dismissal of the company tax cut and the loss carry-back measure: “Tax experts fuming after Government leaves small business ‘short-changed and abandoned’”
On 10 May we received front page coverage in the Herald Sun and page 4 coverage in the Daily Telegraph regarding our analysis of the Budget expenditures and the taxes paid by different family scenarios. See the Herald Sun: “Welfare costs you $5000 a year: Nanny Nation”; and the Daily Telegraph: “Welfare Budget costing $5000 a head”. A version of the story also ran in the Tasmanian Mercury. Click here to see full article.
These stories prompted radio interviews with both the Mornings show on ABC local radio (Perth) and 2UE talk with David Oldfield.
On 11 May The Australian also reported our concerns about the axing of the standard deduction for workplace expenses: “Accountants fuming at Swan”. In the article we say that the Government’s argument that they scrapped the measure because of the increase in the tax-free threshold is a very weak justification – the two measures can sit side by side.