Tax System Improvement

An internationally competitive company tax rate

As part of the now defunct Re:think/ Tax White Paper process there was at least one paper showing that reducing the tax burden on businesses lifts productivity, and increases both business' competitiveness and their capacity to grow. Importantly it also creates jobs. Further, the tax incidence of higher company taxes falls on workers as lower wages, less jobs - or even both. For these reasons we support a lower corporate ...more »

Submitted by (@pauldrum)

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Tax System Improvement

Variable Company Tax Rate

Intent: Income derived from goods and services provided in Australia are taxed in Australia. How: 1. Company tax is either (choice is made by the Company) paid on revenue (at a low rate, say 1%) or profit (at a higher rate, say 30%). 2. Deductions are only allowed for domestic goods or services. Impact: 1. Foreign companies will create domestic companies (“Domestic Shells”) to service other domestic companies so that ...more »

Submitted by (@peter.j.somerville)

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