Kevin Davis, Australian Centre for Financial Studies
Applying the GST to banking has much sounder economic underpinnings than the current levy, would have raised much more revenue, and would have applied to all banks rather than just the big banks.
Dublin’s role in global business is threatened by Trump’s tax plans, so the opportunity presented by Britain’s EU exit will have to be snatched with both hands.
The AiGroup’s Innes Willox’s statement that Australia has “one of the highest progressive tax rates in the developed world”. We asked the AiGroup for sources to support his statement.
With its recent budget changes, the government is proposing a rise in marginal tax rates across a wide band of middle incomes and a marginal tax rate cut for the top.
The administration’s plan to significantly cut the tax rate on so-called pass-through entities will likely lead to creative tax planning and outright evasion, damaging faith in the system.
Local communities are likely to be dissatisfied with the report from the PRRT review because its recommendations only apply to future projects and won’t herald any changes in the budget.
New modelling shows governments need to ensure that corporations benefiting from the use of Australia’s resources, are contributing the same as they do in other jurisdictions.