How we missed the money train

Article Abstract:

The Australian investment community has failed to take advantage of investment in the information technology sector, blaming the effects of the capital gains tax for lack of capital available. Investment failure is indicated by Australia's $346 billion market capitalization, compared to the $13.9 trillion of the United States. Some investors feel the capital gains tax is outdated and its structure is inadequate for dealing with the "new economy." Changing the capital gains tax alone will not modify the approach of Australian investors. Investors may need to take more risks to be rewarded.

Personal Taxes-Capital Gains, Statistical Data Included, Economic aspects, Investments, Information technology, Influence, Personal income tax, Capital gains tax, Capitalists and financiers

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Liberal tax plan poses a company dilemma on profits won overseas

Article Abstract:

The Howard government's liberal tax proposal, which states that in a franking system taxable income would be subject to company tax and other profits would be taxed at entity level, will have profound and confusing implications to Australian companies dealing in global commerce and finance. Companies will remain local by having dividends earned at home more tax effective than dividends earned in overseas operations.

Corporate Tax Administration, Corporate taxes, International economic relations, Tax policy, Australia. Parliament

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Hard cash and soft heads

Article Abstract:

A satire on taxmen and tax offices in Australia is presented. Senator Ross Lightfoot's recent visit to Iraq and subsequent allegations of him smuggling US$20,000 into Iraq is also presented in humorous vein.

Tax Administration, Tax administration and procedure, Humor and anecdotes, Legislators, Senators, Lightfoot, Ross

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