Don’t pay your tax until a court says so: parliamentary report
Stopping high interest rates being slugged on tax debts and putting the onus of proof onto the Tax Office when accusing people of breaking the law are among a swathe of new US-inspired recommendations from a parliamentary committee to improve the experience of taxpayers.
MPs also recommend creating a Bill of Rights for taxpayers and increasing transparency about how quickly complaints are dealt with, in 19 recommendations made by the House of Representatives Standing Committee on Tax and Revenue to the federal government.
US-style overhaul of Tax Office recommended by parliamentary committee
Now it’s Liberals telling us we are going to have to cut the capital gains tax concession
Local Boomer Sacks Accountant After Having To Actually Pay Fair Amount Of Tax
The federal government will pay Irish-domiciled consulting multinational Accenture nearly $60 million to develop a “permissions capability” platform which will initially serve to digitise incoming passenger declaration forms.
In mid-September the Department of Home Affairs announced that Accenture had won a lucrative contract to deliver a “permissions capability” for the Commonwealth, with the government planning to purchase an off-the-shelf digital platform that will be used for incoming passenger declaration forms, including to collect COVID-19 vaccination details.
Govt to pay Accenture $60 million for permissions capability work
The new mayor of a blue-ribbon council in Sydney’s north has been barred from speaking to council staff in person and over the phone after just over a month in the job.
Ku-ring-gai Council general manager John McKee said he had also relocated municipal employees, including mayor Cedric Spencer’s personal assistant, in acting on serious concerns he had “as a result of information coming to my attention”.
Sydney mayor banned from talking to staff and PA moved to ‘secret location’
NSW investigators face labyrinth of family trusts to claw back Eddie Obeid’s proceeds of crime
Small businesses and individuals in dispute with the tax office over an alleged debt will not be required to pay it until a final determination is made by a relevant dispute body or court, according to recommendations of a federal parliamentary inquiry.
The inquiry, which has been scrutinising the Australian Taxation Office's (ATO) immense powers that can put it at an advantage over ordinary Australians during tax disputes, has suggested sweeping changes to the law to better protect vulnerable taxpayers.
It recommends the onus of proof should lie not with the taxpayer but with the ATO, in relation to allegations of fraud or evasion.
The committee also recommends that the federal government introduce something equivalent to a US-style taxpayer bill of rights, where legislative rights are enshrined in the law.
Time to reverse the onus of proof for taxpayers and introduce a bill of rights, inquiry says
MPs also recommend creating a Bill of Rights for taxpayers and increasing transparency about how quickly complaints are dealt with, in 19 recommendations made by the House of Representatives Standing Committee on Tax and Revenue to the federal government.
Matthew Smith (U.S. Treasury Department, Office of Tax Analysis), Owen Zidar (Princeton; Google Scholar) & Eric Zwick (Chicago; Google Scholar), Top Wealth in America: New Estimates and Implications for Taxing the Rich:
This paper uses administrative tax data to estimate top wealth in the United States. We assemble new data that links people to their sources of capital income and develop new methods to estimate the degree of return heterogeneity within asset classes.
The fact-checking process can help you sleep better at night
Poynter – Tips from PolitiFact on bulletproofing your stories. Make sure you have a checklist for each story, even at a basic level: “Corrections hurt, and most professional journalists can probably name at least one they’ve had to make — sometimes a tiny detail in a large, time-intensive story. Luckily, there are editing and fact-checking practices you can put in place to bulletproof your stories, captions and graphics before publication. Katie Sanders is the managing editor of PolitiFact, a nonprofit fact-checking website that rates the accuracy of politicians’ claims and other newsworthy statements. Accuracy checks are baked into PolitiFact’s reporting and editing process to ensure accurate evaluations of claims. (PolitiFact is owned by Poynter, which sponsors this newsletter.) Sanders shared tips for making an accuracy checklist, balancing speed and accuracy, and tracing information back to primary sources. This interview has been lightly edited for length and clarity…”
Media Secret Keepers Boondoggle
- Sunak to cut tax on banks to keep City competitive, say reports (21 Oct 2021)
- Total Tax Contribution study for UK legal and accounting activities (18 Oct 2021)
- Overseas satellite colleges rake in millions tax-free for private schools including Harrow (18 Oct 2021)
- On rich, famous ‘cockroaches’ and tax evasion (17 Oct 2021)
- UK Treasury prepares to launch online sales tax (17 Oct 2021)
- Edinburgh addresses linked to alleged money laundering and tax abuse(17 Oct 2021)
- The City of London Is Hiding the World’s Stolen Money (11 Oct 2021)
- Republic of Ireland to increase corporation tax rate to 15% (9 Oct 2021)
- Boris Johnson laughs off the Pandora papers as the super-rich’s cash rolls in (9 Oct 2021)
- OECD: International community strikes a ground-breaking tax deal for the digital age (8 Oct 2021)
- OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS) Statement on the Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy (8 Oct 2021)
- OECD Statement on a Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy (8 Oct 2021)
- Global deal to ensure companies pay at least 15% tax agreed by 136 nations (8 Oct 2021)
- Nations agree to 15% minimum corporate tax rate (8 Oct 2021)
- OECD deal imposes global minimum corporate tax of 15% (8 Oct 2021)
- Council tax could easily rise by 5% a year warn finance experts (8 Oct 2021)
- Council tax: What’s happened and what’s next for councils? (7 Oct 2021)
- Money laundering: NatWest Plc pleads guilty in criminal proceedings (7 Oct 2021)
- NatWest faces £340m fine after admitting ‘money-laundering’ failings (7 Oct 2021)
- NatWest flips bank guilty-plea logic on its head (7 Oct 2021)
- US set to raise $8.5bn from four tech companies following global tax deal(7 Oct 2021)
- Top EU official calls for crackdown on shell firms used to avoid tax (7 Oct 2021)
- The Pandora papers have exposed the ‘for sale’ sign hanging over Britain(7 Oct 2021)
Who generated the loopholes? A case study of corporate tax advisors’ regulatory capture over anti-tax avoidance legislation in Finland (7 Oct 2021) - Too big to jail: why the crackdowns on dodgy finance have been so ineffective (6 Oct 2021)
- The global corporate tax deal doesn’t add up – we’re about to be ripped off again (5 Oct 2021)
- Revealed: how Tory co-chair’s offshore film company indirectly benefited from £121k tax credits (5 Oct 2021)
- Serious Fraud Office secures third set of Petrofac bribery conviction (4 Oct 2021)
- PANDORA PAPERS - The largest investigation in journalism history exposes a shadow financial system that benefits the world’s most rich and powerful (3 Oct 2021)
- Pandora Papers: A simple guide to the Pandora Papers leak (3 Oct 2021)
- Pandora papers: biggest ever leak of offshore data exposes financial secrets of rich and powerful (3 Oct 2021)
- Pandora papers: what the offshore services providers say (3 Oct 2021)
- Pandora Papers: Blairs saved £312,000 stamp duty in property deal (3 Oct 2021)
- Pandora Papers: Tony and Cherie Blair bought property via offshore firm and saved £300,000 in tax (3 Oct 2021)
- Pandora Papers: Leak reveals how Swiss wealth consultants shield global cast of suspects (3 Oct 2021)
- Pandora Papers: Crown estate bought £67m London property from family of Azerbaijan ruler (3 Oct 2021)
- Fears for pension tax relief as cost soars to £41bn a year (1 Oct 2021)
The Power of Dave Chappelle’s Comedy Jelani Cobb, The New Yorker