En Passant

Has newly appointed Commissioner of Taxation Chris Jordan been involved in tax avoidance arrangements for his clients or even himself? Will he, for example, release his tax returns for the last ten years?

Tax Office staff are in shock over the Labor Government’s axing of the Commissioner of Taxation, Michael D’Ascenzo. More shocks are in store. What better way to gut the Tax Office than for business to appoint one of their own to lead it? Is there an alternative? Yes. Tax the rich and give the ATO enough funding for it to do its job as the collector of tax rather than the handmaiden of business. Make the rich pay. That is something Labor won’t do.

The Treasurer has today been telling us the Minerals Resource Rent Tax is working precisely as it should – not raising any tax. The hospital in Yes Minister worked perfectly too – it didn’t have any patients.

Despite the dropping of the Paul Hogan criminal investigation, the Wickenby criminal and/or tax noose is tightening around a number of other players.

Organise, organise, organise to stop the ruling class lackeys in charge of the ATO smashing unions in the workplace.

Subsidies for individual solar panel electricity generation are a dumb idea. High feed in tariffs actually impose a burden on poor and working class electricity users and benefit those well enough off to pay $23,000 or thereabouts for solar panels on their roofs.  In addition the Rudd Labor Government’s former rebate scheme reimbursed the solar panel owners up to $8000 [...]

Some of may have been following what I wrote about the the private equity fund Texas Pacific Group.  See for example Private equity funds and the pillage of Australia. TPG made $1.5 billion profit on its restructuring investment in Myer. The money came from the US via the Cayman Islands, Luxembourg and then the Netherlands. It removed the [...]

Private equity funds add no real value to Australian society. And they may avoid tax altogether. Where is the political outrage from the Government and Opposition about this pillage of our society? Silence is all I have heard to date. An enquiry into the impact of these vultures on Australian society is overdue.

Take that minute on November 11 to remember the great struggle of German workers that overthrew the Kaiser and ended the war. And remember we have the power today to overthrow our rulers and their managers and create a truly democratic society where war is banished to the museum.

Often seemingly appropriate policy responses can lead to tax rorts. Take section 23AG of our income tax laws. Back in the mid 1980s Australia moved from an exemption system for foreign taxed income to a foreign tax credit system (FTCS).  In essence under the FTCS Australian residents declare their foreign income and receive a credit [...]