24 Aug 12 The Tax Institute in the Media
On 20 August, The Tax Institute was quoted in the Australian Financial Review, 'Treasury reforms slow under cuts, says business' in relation to the impact of Treasury staff cuts on slowing down the progress of tax and other reforms. In the article, we say that high profile policies, such as the minerals rent resource tax, have absorbed a lot of Treasury’s resources and diverted resources away from long overdue tax business, such as trusts, offshore subsidiaries and managed funds.
We were also quoted in the Australian Financial Review, 'Gillard urges business unity on corporate tax' in relation to a paper by the Business Tax Working Group recommending cutting the company tax rate. In the article, we say that Prime Minister Gillard's comments urging businesses to agree on ways to fund a cut in the corporate tax rate stimulate the push towards a tax cut and that The Tax Institute hopes businesses will start to discuss cutting the corporate tax rate in a mature way across the table.
On 24 August, The Tax Institute was quoted in the Australian Financial Review, 'Talks on loss carry-back tax breaks' in relation to the release of the exposure draft on the loss carry-back rules. In the article, we say there should be a thorough consultation process and the only restriction on using losses should be through the Part IVA tax avoidance rules as further integrity measures may add unnecessary cost and complexity.