Privatising public assets is like a tradesperson selling her or his tools when facing a temporary income shortfall. Much better to borrow at low interest rates and productively invest those funds.
The Henry Tax Review identified 125 taxes within Australia levied by all levels of government. Of those 125 taxes, just 10 taxes raised 90% of all tax revenue. The company tax is the second largest source…
The same deep forces that were behind the election result in Queensland are being played out in Canberra. The Australian people want, although most won’t admit it, higher taxes – either now or in the future…
Apple Inc, the US-based tech giant, has received plenty of plaudits for producing a record US$18 billion in profit from one quarter’s global sales of US$75 billion. A look at the company’s financial statements…
Australian Treasurer Joe Hockey claims taxpayers are already paying 50 cents in the dollar of their income to the government and that bracket creep will push the average income earner into the second top…
Many developed economies have experienced a significant increase in inequality in recent decades. Survey data for Australia show that the share of the top 10% of the income distribution, and more markedly…
With the federal government’s review of taxation about to get underway, many are expecting Australia’s Goods and Services Tax to be up for change. In this GST series we take a closer look at the evidence…
The thousands of tax loopholes that litter the corporate tax code in the United States are frequent targets of criticism from both Democrats and Republicans. Outgoing Republican Senator Tom Coburn released…
The missing element in this week’s mid-year economic and fiscal outlook, and more broadly, in current government policy, stares Australians in the face. Revenue needs to be increased. Increasing taxes…
The government’s recent budget outlook (MYEFO) confirmed that the Australian government budget is rotten at the core. The government is hopelessly living beyond its means, with expenditure greater than…
David Murray’s Financial System Inquiry may call for the removal of superannuation tax breaks but the government’s tax discussion paper, due to be released next week, is unlikely to advocate similar changes…
Having enjoyed continuously increasing prosperity since the Second World War, Australians have come to expect that each generation will live a better life than the last. But this steady progress may be…
Joe Hockey has hinted he may introduce a “Google tax” as a new weapon to tackle profit shifting by multinational enterprises. The Treasurer’s suggestion is not only political as a counter to aggressive…
Political and business leaders are touting the next 12 months as a make-or-break year for the country’s reform agenda - and Australia’s economy. A number of big changes will be proposed and debated. These…
Republican gains in this month’s election, which handed the GOP united control of Congress for the first time since 2006, have lifted hopes that the government can pass corporate tax reform next year…
All over the world, tax revenues are under relentless attack. With help from accountants, lawyers and financial advisers, corporations are avoiding taxes through complex corporate structures, profit shifting…
Hundreds of advance tax agreements between Luxembourg and more than 300 taxpayers were leaked and published by the International Consortium of Investigative Journalists last week. The taxpayers involved…