Members may be interested in the following articles discussing changes in the taxation system, selected for you by the Knowledge Centre team. 
 
Title: Changing Taxes for Changing Times 
Recent speech by Ken Henry at the Australasian Tax Teachers Association (ATTA) conference 21 January 2010.  
 
In a speech entitled 'Changing Taxes for Changing Times', the Secretary of the Commonwealth Department of the Treasury, Dr Ken Henry, discussed matching tax design to society's goal's. He warned of the need to guard against vested interests. 
 
To obtain a full copy of the article please contact the Knowledge Centre on 1800 809 828 or via email at knowledge@charteredaccountants.com.au  
 
Title: Do you see what I see? 
Speech by the Commissioner of Taxation to the Australasian Tax Teachers Association (ATTA) Conference 22 January 2010. 
 
'As academics and teachers, and thus keenly interested observers of and commentators on all things tax-related, you will know that, for the most part, Australians will generally comply with the tax laws given the right circumstances'... 
 
A full copy of this speech is available on the ATO website.  
 
Title: New tax system focuses on jobs 
Peter Martin, Sydney Morning Herald, The; 23/01/2010 
 
Voluntary simple tax returns, longevity insurance, a Medicare-style disability levy and incentives to keep people in work head the recommendations of the Henry tax review, which is focused on the ageing population. 
 
Title: Australian Articles  
In addition to the above, the Knowledge Centre team has identified current articles of interest from the Australian press on a wide range of general interest, accounting and business topics. To view more information on these articles please click here. 
 
 
This month's selected articles include: 

 

• Winners and losers from the GFC<br> 
  This article focuses on the success and failure of different industries due to global financial crisis (GFC). It says that infrastructure projects will likely develop and recover due to bailout packages as well as stimulus packages in major countries. It notes on the decreased economic performance of air travel and tourism wherein special deals were offered to generate the business. It further reveals the interest rates mitigated the GFC through monetary policy and stimulus packages. Abstract written by EBSCO.  
  
• A view from the top 
  An interview with chairman Sir David Tweedie of the International Accounting Standards Board (IASB) is presented. When asked about the association of global economic downturn on the International Financial Reporting Standards (IFRS) adoption, he refers the Group of Twenty (G20)'s meeting towards global accounting standard. He notes fair value measurement as part of the solution to solve the crisis and not a problem. Tweedie also suggests increasing transparency to gain investor confidence. Abstract written by EBSCO. 
  
• Auditing with clarity 
  The introduction of the Clarity Australian Auditing Standards is discussed. The reasons for the changes being made, the impacts of the changes and a timetable for the rollout of the changes are also examined. 
  
• Accounting for financial instruments 
  The global financial crisis has been the impetus behind pressure upon the IASB to change some cumbersome and complex standards. This article focuses upon the effect that this may have upon accounting for financial instruments. 
  
• Funding after the downturn 
  Many companies are trying to make sense of what they have learned from the global financial downturn and what they should do differently to safeguard against the next. Others are simply fighting to survive that long.