Tax Reform in Australia: Base-Broadening Down Under

49 Pages Posted: 2 Nov 2012

See all articles by Richard Krever

Richard Krever

University of Western Australia Law School

Date Written: March 1, 1986

Abstract

In the 1980s Australia's income tax system was entirely overhauled in an unprecedented reform exercise. The retirement savings and income system was rebuilt entirely, capital gains were brought into the income tax base in a comprehensive fashion, the classical company-shareholder tax regime was replaced with a full imputation system, the foreign income exemption system was replaced by a comprehensive foreign tax credit system, and separate a fringe benefits tax paid by employers was enacted to subject non-cash employment fringe benefits to tax at the highest individual marginal rate.

Suggested Citation

Krever, Richard, Tax Reform in Australia: Base-Broadening Down Under (March 1, 1986). Canadian Tax Journal/Revue Fiscale Canadienne, Vol. 34, No. 2, 1986. Available at SSRN: https://ssrn.com/abstract=2169073

Richard Krever (Contact Author)

University of Western Australia Law School ( email )

M253
35 Stirling Highway
Crawley, Western Australia 6009
Australia

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