Jul 7, 2010
The Australian Government has scrapped its controversial proposed Resource Super Profit Tax (RSPT) in favor of a new Mineral Resource Rent Tax (MRRT) and an expanded Petroleum Resource Rent Tax (PRRT). Last week the Government of Australia revealed its plans to drop the previously announced RSPT system and instate a new MRRT scheme. The levy [...]
The Australian Government has scrapped its controversial proposed Resource Super Profit Tax (RSPT) in favor of a new Mineral Resource Rent Tax (MRRT) and an expanded Petroleum Resource Rent Tax (PRRT).
Last week the Government of Australia revealed its plans to drop the previously announced RSPT system and instate a new MRRT scheme. The levy will be enacted alongside an expansion of the current PRRT to cover both all onshore and offshore extraction of gas, oil and coal seam methane. Unlike the ... Read More
Jun 30, 2010
Concerns have been raised about the privacy issues surrounding information provided to the Australian Tax Office by tippers and whistleblowers concerning tax evasions. Last week the Australian National Audit Office (ANAO) released Community Intelligence – Collecting and Processing Tip-offs, a performance audit of the Australian Tax Office’s (ATO) treatment of tax information provided by anonymous [...]
Concerns have been raised about the privacy issues surrounding information provided to the Australian Tax Office by tippers and whistleblowers concerning tax evasions.
Last week the Australian National Audit Office (ANAO) released Community Intelligence - Collecting and Processing Tip-offs, a performance audit of the Australian Tax Office’s (ATO) treatment of tax information provided by anonymous tippers on other taxpayers. The report revealed the ATO’s procedure of indefinitely retaining all information provided by tippers, even if an investigation proves the data to be false ... Read More
Jun 24, 2010
Philip Daniel, Deputy Head of the International Monetary Fund (IMF) tax policy devision, has revealed that he supports the Australian Government’s intention to instate a new 40 percent tax rate on mining industry profits. On June 23rd Philip Daniel spoke at an Australian Institute of Chartered Accountants conference and gave his view on the country’s [...]
Philip Daniel, Deputy Head of the International Monetary Fund (IMF) tax policy devision, has revealed that he supports the Australian Government's intention to instate a new 40 percent tax rate on mining industry profits.
On June 23rd Philip Daniel spoke at an Australian Institute of Chartered Accountants conference and gave his view on the country's current dispute over the proposed Resource Super Profit Tax (RSPT). Phillip Donald said that he believed that a recent mining-sector sponsored media campaign had misinterpreted the possible ... Read More
Jun 17, 2010
The Australian Government has set out to refine the current system which allows individual taxpayers and businesses to make “elections”, or treatment choices, in their tax returns. On June 16th Nick Sherry, Australian Assistant Treasurer, announced the release of a consultation paper which aims to gather public feedback on possible refinements to the nation’s “election” [...]
The Australian Government has set out to refine the current system which allows individual taxpayers and businesses to make “elections”, or treatment choices, in their tax returns.
On June 16th Nick Sherry, Australian Assistant Treasurer, announced the release of a consultation paper which aims to gather public feedback on possible refinements to the nation’s “election” tax system. In the current form, Australian taxpayers are able to make choices in how their income is determined and reported. There are currently 216 such “elections” in ... Read More
