Archive for 'Tax avoidance'
Australian Tax Office to lose 3000 staff by October; what happens to revenue collections from the rich and powerful, Commissioner?
The one percent has captured not only Parliament and tax policy but tax administration now too. If that is true, the conclusion we might then reach is that the slaughter of Tax Office jobs currently under way is actually an attempt to administratively reduce taxes on capital by weakening the capacity of the ATO to tax the rich and powerful. Certainly that fits in neatly with the neoliberal cut taxes mantra of most politicians and the Treasury.
Over to you Commissioner of Taxation.
Company tax avoidance is not a failing of capitalism: it is its logical expression.
There are two ways to really tax the rich. The first is for workers to win bigger pay increases to stop the bosses getting their hands on more of our money before they can play funny buggers with it. The second is to overthrow the capitalist system which produces corporate tax avoidance.
This may be the logic. Trickle down will increase revenue. The less tax we collect today from companies will magically produce more economic activity in the future. So having people in charge of the Australian Tax Office who ‘understand’ business and the realities they face is just what capital needs. To business, tax is just another cost and the lower the costs the higher the profit and the better off all of us will be
I believe in Santa Claus too.
As a tax man I have been thinking about Kevin Rudd’s idea to cut company tax in the Northern Territory to 20%.
Let me tell you a story about profit shifting, or transfer pricing as it is known in tax circles.
If the UK Public Accounts Committee can question Starbucks, Amazon and Google about their tax affairs, and then condemn them for not paying any tax in Britain, we can do it here in Australia.
A thoroughgoing investigation into the tax affairs of big business is needed to see just what they get up to and whether they are paying a fair share of tax in Australia. After all, what has big business got to hide? Over to you Senators Rhiannon and Cameron.
Without a mass working class movement demanding and winning better wages, more jobs and price controls as well as more tax paid by the rich and big business, the rich and big business will continue to get richer and pay less and less tax.
It might well be a case of a stopped clock being right twice a day, but on the very day I had an article in The Conversation called Giant profits, tiny tax bills: time to close loopholes on corporate tax avoidance dealing with multinationals like Google et al and the inadequacies and problems with 20th century […]
Such is Labor’s degeneration they have handed the tax collecting role to a person whose whole working life has been representing the interests of big business in general in policy debates and discussions and defending specific big businesses when battling the ATO. Jordan would almost certainly be someone who has undertaken tax planning for his big business clients and the rich. One has to wonder if he has been involved in tax avoidance schemes. Neoliberal madness.
Posted by John, October 26th, 2012 - under ATO, Australian Tax Office, Commissioner of Taxation, Michael D'Ascenzo, Tax, Tax avoidance, Tax design, Tax Office, Tax policy, Tax reform, Tax the rich.
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.
Posted by John, October 25th, 2012 - under ATO, Australian Tax Office, Commissioner of Taxation, Tax, Tax avoidance, Tax cuts, Tax design, Tax expenditures, Tax Office, Tax policy, Tax reform, Tax the rich.
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.