Source: Taxation In Australia Journal Article
Published Date: 1 Aug 2020
It is universally agreed that tax reform in Australia is necessary but obtaining agreement from all stakeholders on the design of an improved system, and implementing those improvements, seems an impossible task. Previous tax reform made some inroads, but our tax system has been creaking under its own weight for far too long. The COVID-19 pandemic may provide the impetus for reform. The Henry review remains a blueprint for the reform of Australia's tax system and many of the recommendations contained in the report are worthy of consideration, even 10 years on. Against this backdrop, this article considers issues with the taxation of fringe benefits, the corporate tax rate, the top marginal tax rate and the CGT discount, the taxation of trusts, small business tax concessions, Div 7A, individual tax residency, the personal services income rules, the superannuation guarantee regime, and the state of consultation on legislative amendments.
More by Robyn Jacobson
The evolving landscape of tax practitioner obligations - Journal 26 Aug 2024
Main Residence Exemption –What could go wrong? - Presentation 21 May 2024
Division 7A – Just taking it one debit loan at a time - Audio 07 Mar 2024
Division 7A – Just taking it one debit loan at a time - Video 07 Mar 2024
Tax Policy & Advocacy update - Presentation 15 Feb 2024
Understand the latest changes to your TASA obligations - Video 30 Nov 2023
Understand the latest changes to your TASA obligations - Presentation 30 Nov 2023
Tax Policy & Advocacy update - Audio 15 Nov 2023
Tax Policy & Advocacy update - Video 15 Nov 2023
Tax, Policy & Advocacy update - Presentation 19 Oct 2023
Sorry, this is subscriber only content.
To gain access to this material and much more - Subscribe Now.
(Note: Members can access Taxation in Australia journal articles without a Tax Knowledge Exchange subscription - please log in to access).
Already a Subscriber? Login now
Details
The material is copyright. Apart any fair dealing for the purpose of private study, research criticism or review, as permitted under the copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.
Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.
The Tax Institute
(ABN 45 008 392 372 (PRV14016))
("TTI")
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
All materials provided on this site are protected by copyright and are owned by or licensed to TTI.
Except as expressly permitted by TTI or the copyright owner, any person or company who uses this site must not use, reproduce, redistribute, retransmit, publish or otherwise transfer, or commercially exploit, the materials or any information, software or other content, in whole or in part, which is available through this site.
Tags