Explaining the economic benefits of a company tax cut

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551821 Michael Croker (Member since: 6/07/2012 3:38:18 AM)
As Tax Australia Leader at Chartered Accountants Australia and New Zealand I am responsible for leading our taxation policy and advocacy work with federal and state governments and regulatory bodies. I previously led the team which designs, develops and delivers the tax, superannuation and financial advisory services training program at the Institute of Chartered Accountants Australia. Prior to that, I was responsible for the corporate tax law syllabus within PwC Australia. I have also lectured in post-graduate tax subjects at The University of Sydney.

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Comments (2)

11005
21/03/2016 4:23:13 AM Derek Smith said:

With the Total Australian Debt at $5.659 Trillion and increasing at over $0.9 BILLION DOLLARS PER DAY, and Business Debt at $828 Billion, it should be abundantly clear that cutting the company tax rate cannot fix the existing unfair, inefficient and ineffective Tax System. See http://www.australiandebtclock.com.au/

Expect a cut in company tax rate to transfer this money from the Government to the Banks as business uses the tax cut to pay off debts, cut interest costs and relieve the pressusre from the banks etc. 

Government fails to understand that — all taxes and government charges are passed on to the end consumer in increased prices of all goods and services — the present Tax System is the cause of high prices, falling demand, business failures and loss of Tax Revenue for Government. Any cut in taxes must directly benefit the consumer by directly reducing prices of goods and services.

2 CENT TAX removes existing taxes from the prices of goods and services. The considerable savings in tax admin, payment and compliance are also deducted from prices. 2 CENT TAX at a gentle fair 2 cents in the dollar is added to the reduced prices.

This real tax reform directly benefits the consumer whose money (take-home-pays, pensions, savings, superfund benefits, business and government funds) will buy 40% more goods and services. Increased spending will create JOBS to further increase spending and cut the cost of all Government. 

2 CENT TAX is real tax reform directly benefiting the consumer.

"Change happens when people come together and act". Gail Seib. 

 

Please see the Website at   http://like2percenttax.com.au/   and the Petition at https://community.sumofus.org/petitions/2-tax

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72688
21/03/2016 5:15:58 AM Peter Hayes said:

A minor corporate tax rate cut is tinkering at the edges and does not address an important matter of how to encourage new capital investment into Australia. It would make greater sense to grant new investors and corporations a moratorium in company tax, for upto 10 years, if they made a significant investment in a permanent establishment in Australia, which generated new local employment.

Over generations transfer pricing and cost shifting by large corporations by many multinationals has contributed to Australia's debt, with many of these corporations not paying their fair share of Tax in Australia.

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