Source: Australian Tax Forum Journal Article
Published Date: 1 Aug 2012
This paper concerns the Australian Government’s call for a resource rent tax for iron ore and coal; and extension of the existing rent tax for petroleum. Our main
objective has been to address the Australian Government’s conduct of the tax reform consultation process for its proposed resource rent tax legislation. To ascertain the Government’s effectiveness in the consultative process toward legislative design, our focus is on the contentious issue of the method for valuation of starting-base assets (or capital assets) because of their deductibility from revenue subject to tax.
This paper analyses relevant stakeholder submissions to the Government’s request for input on the valuation of starting-base assets for Australia’s proposed resource rent taxes. We use the perspective of stakeholder theory and grounded theory methodology. The results of our research indicate that the Australian Government has lacked effectiveness in this consultation process. The contribution of this paper is of a grounded theory that frames three recommendations to improve the consultation process. We anticipate that the adoption of these recommendations would enhance the legitimacy of outcomes and promote taxpayer confidence in the resource rent taxes as well as eventually improve compliance.
Resource rent tax: its principles, application and need for change in Australia - Journal 01 Dec 2022
Tax as a solution for irrigation water scarcity, quality and sustainability: case studies in Australia and New Zealand - Journal 01 Oct 2021
Treasury review of the petroleum resource rent tax: gas transfer pricing arrangements - Journal 01 Jul 2021
Tax law, policy and energy justice: Re-thinking biofuels investment and research in Australia - Journal 01 Mar 2020
Petroleum Resource Rent Tax Review 2017: split priorities found in public submissions - Journal 01 Jul 2018
Low oil price shock in Malaysia: Government fiscal impact and petroleum industry reactions - Journal 01 Dec 2017
Finally, a goods and services tax for Malaysia: A comparison to Australia's GST experience - Journal 01 Jul 2016
A grounded theory approach to the minerals resource rent tax - Journal 01 Dec 2013
Minerals Resource Rent Tax (MRRT): Mining project evaluation techniques - Journal 01 Aug 2010
Sorry, this is subscriber only content.
To gain access to this material and much more - Subscribe Now.
(Note: Members can access Taxation in Australia journal articles without a Tax Knowledge Exchange subscription - please log in to access).
Already a Subscriber? Login now
The material is copyright. Apart any fair dealing for the purpose of private study, research criticism or review, as permitted under the copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.
Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.
The Tax Institute
(ABN 45 008 392 372 (PRV14016))
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
All materials provided on this site are protected by copyright and are owned by or licensed to TTI.
Except as expressly permitted by TTI or the copyright owner, any person or company who uses this site must not use, reproduce, redistribute, retransmit, publish or otherwise transfer, or commercially exploit, the materials or any information, software or other content, in whole or in part, which is available through this site.