Jul 19
Lodged recently? You might’ve been the one-millionth person to use#myTax this #TaxTime! 🎈🎊🎉🍰 If you haven’t lodged yet, check it out @ ato.gov.au/lodgeonline pic.twitter.com/WfIaHdINQr
We're on the brink of a tax revolution
Fintechs target Millennials in online tax returns push
Australians lost more than $630000 to tax scams last year
Frightening new tax scam luring Australians
Trips to Paris, edible underwear, breast implants … the bizarre ... The Donaldson Sisters
 | @CanRevAgency | |
Looking forward to future collaboration with the US, UK, Netherlands and Australia. ow.ly/JVe630kV9QF #J5TaxCrime #CdnTaxpic.twitter.com/i9bYr844SZ
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Free markets must beware creeping breakdown in legitimacy
The future of tax: What’s in it for you? paper
Narrowing tax base to fall on workers as deeper reforms languish, says PBO - article discussing analysis in a Parliamentary Budget Office report reviewing Australia's federal tax system
The report examines the broad trends within the Commonwealth tax system since 2001-02 and highlights the following:
1. a decline in company tax receipts as investment has become more concentrated in capital intensive industries, which have higher losses that are carried forward. The trend is likely to decrease further over the next decade because of the reduction in the company tax rate;
2. a fall in GST receipts as a result of households spending more on goods and services that are GST-exempt, ie health services and education services; and
3. an increase and reliance on personal income tax receipts due to ongoing bracket creep, notwithstanding the recently legislated personal income tax cuts. The paper expects that emerging 'share economy' could potentially affect personal income tax receipts in the future, but as of yet the report did not show a substantial effect.
Trends affecting the sustainability of Commonwealth taxes
Tony Slater QC, FTIA, has represented both taxpayers and the
Commissioner in GST disputes in appellate courts, from the time the tax
was introduced. Many of the cases in which he has appeared have
concerned the scope of the “supply” on which GST is levied. He is a
longstanding member of the Institute and a frequent speaker at its
conferences.
Narrowing tax base to fall on workers as deeper reforms languish, says PBO - article discussing analysis in a Parliamentary Budget Office report reviewing Australia's federal tax system
The report examines the broad trends within the Commonwealth tax system since 2001-02 and highlights the following:
1. a decline in company tax receipts as investment has become more concentrated in capital intensive industries, which have higher losses that are carried forward. The trend is likely to decrease further over the next decade because of the reduction in the company tax rate;
2. a fall in GST receipts as a result of households spending more on goods and services that are GST-exempt, ie health services and education services; and
3. an increase and reliance on personal income tax receipts due to ongoing bracket creep, notwithstanding the recently legislated personal income tax cuts. The paper expects that emerging 'share economy' could potentially affect personal income tax receipts in the future, but as of yet the report did not show a substantial effect.
Trends affecting the sustainability of Commonwealth taxes
- HMRC
to raise £3.2bn in new tax avoidance crackdown on disguised
remuneration schemes (19 Jul 2018)
- HMRC issue briefing: disguised remuneration charge on loans (19 Jul 2018)
- Swiss bank settles US tax evasion probe (19 Jul 2018)
- Greek
Inspectors Pose as Clients to Combat 'Airbnb'-Type Tax Evasion
(19 Jul 2018)
- Poachers and Gamekeepers, Revolving Doors: Dodwell, former head of tax at Deloitte, named as member of the GAAR advisory panel (19 Jul 2018)
- UK
Treasury ready to relax border tax under 'no deal' Brexit
(19 Jul 2018)
- Why the new Code governing corporations isn't worth the paper it's written on (18 Jul 2018)
- Ocado
tycoon's fortune is held in a secret trust in the tax-free Bahamas
(18 Jul 2018)
- What Mining Can Learn from Oil: A Study of Special Transfer Pricing Practices in the Oil Sector, and their Potential Application to Hard Rock Minerals (18 Jul 2018)
- Address
by EITI Chair Fredrik Reinfeldt on contract transparency - disclosure
leads to awkward and difficult conversations but the alternative –
where mistrust builds and potentially leads to discord and violence due
to a lack of transparency is surely worse (18 Jul 2018)
- Lend Lease: double dipping and Dutch tripping (18 Jul 2018)
- Dark money lurks at the heart of our political crisis (18 Jul 2018)
- New York and three other states claim Trump tax law is unconstitutional (18 Jul 2018)
- Tax
Court: Unsupervised Worker Still an Employee (18 Jul
2018)
- Danske Bank drops 9% after pledge to forfeit money laundering gains (18 Jul 2018)
-
Danske Bank opens probe into alleged money laundering case(18 Jul 2018)
- Hammond's £20bn NHS headache (18 Jul 2018)
- Fewer Slovak companies are based in tax havens (18 Jul 2018)
- State
Duma backs idea to create tax havens in Russia for oligarchs affected
by sanctions (18 Jul 2018)
- Country
by country reports: why “automatic” is no replacement for “public"
(17 Jul 2018)
- San Francisco to consider tax on companies to help homeless (17 Jul 2018)
-
Buy-to-let continues to fade as tax changes throw up a barrier(17 Jul 2018)
-
The corruption of American politics shows why we are right to impose tight limits on UK electoral spending(17 Jul 2018)
- Revolut
reports suspected money laundering to UK authorities (17
Jul 2018)
- Tax rise needed to fund NHS spending boost, says watchdog (17 Jul 2018)
- Former
Spanish king is accused of money laundering by his German
ex-mistress (17 Jul 2018)
- Kenya
named among world's biggest tax havens where the rich hide wealth to
evade taxes (17 Jul 2018)
- Four
States Claim Federal Tax-Deduction Cap Infringes Rights
(17 Jul 2018)
- Can
we afford the City of London? (16 Jul 2018)
- Resource Curse: Oil-rich Nigeria outstrips India as country with most people in poverty (16 Jul 2018)
- Camplify, 'Airbnb for caravans', secures ATO decision for road warriors - article on a sharing economy start up securing a favourable ruling from the ATO to allow its users to claim tax deductions incurred in leasing out motorhomes or campervans