Monday, July 23, 2018

Anthony Slater QC The future of tax: What’s in it for you? paper

ato.gov.au
Jul 19
Lodged recently? You might’ve been the one-millionth person to use this ! ๐ŸŽˆ๐ŸŽŠ๐ŸŽ‰๐Ÿฐ If you haven’t lodged yet, check it out @  
   

We're on the brink of a tax revolution

Fintechs target Millennials in online tax returns push


Trips to Paris, edible underwear, breast implants … the bizarre ... The Donaldson Sisters

Via GM
Longstaff: Ethics and transformation


Free markets must beware creeping breakdown in legitimacy



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. 
 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

Tax office squeezes Binetter family of Nudie Juice fame - The Australian