— Richard Denniss Chief Economist, The Australia Institute
Rule N.1 of Tax Haven Club: NEVER talk about Tax Haven Club
Treasurer Scott Morrison will unveil a suite of multinational tax avoidance measures, including a diverted profits tax - commonly known as a "Google tax" - designed to raise billions of dollars over four years and head off claims it is only cutting taxes for business and the wealthy. A new unit within the Australian Tax Office will also be handed more resources and staff to crack down on multinational tax avoidance Scott Morrison to raise billions through multinational tax crackdown
Budget 2016: Scott Morrison to raise billions through multinational tax crackdown
Live Blog ....
Budget 2016: $10m turnover cut-off for business tax cuts
Happy budget day, folks. Follow the latest developments from Parliament in our live blog
Scott Morrison's relentless rise to power (Good Weekend at Currarong)
On Sunday, Mr Morrison had said the budget would offer tax relief for "people out there earning average wages"; he clarified on Monday that "the average full-time earnings in Australia is $80,000".
Tax stats from 2013-14 show there were 9,712,293 Australians with taxable income and 7,187,104 of them earned less than $80,000.
The man who attests that his faith has imbued him with “the values of loving kindness, justice and righteousness” also tried to make political hay when relatives of asylum seekers killed in the boat tragedy off Christmas Island in December 2010 were flown at taxpayers’ expense to attend their loved ones’ funerals in Sydney. The Scott Morrison who claims that deterring boat people from ever embarking on the hazardous journey across the Indian Ocean offers the most humane and Christian approach is also the Scott Morrison whose incessant politicisation of the issue has made compromise so difficult. “There is nothing to negotiate,” he said after a vessel carrying 250 asylum seekers sank off the coast of Java in December, adding glibly that Labor had “super-sized” the problem by releasing boat people into the community.
So Who bloody Hell are you ...
Illustration: Ron Tandberg.
United Kingdom Budget UK budget 2016 documents
The United Kingdom (UK) Budget: was handed down on 16 March 2016. Some of the key measures announced include:
* a reduction in the corporation tax rate to 17 per cent by 2020 (previously due to fall to 18 per cent)
* more details on the implementation of Base Erosion and Profit Shifting (BEPS) Action 4
* changes to the loss relief rules for businesses
* extension of the anti-hybrid rules to eliminate tax advantages arising from mismatch arrangements involving permanent establishments
* expanded royalty withholding tax rules and treaty abuse.