Corporate Tax Reform in Australia: Lucky Escape for Lucky Country?
This material was first published by Thomson Reuters (Professional) UK Limited in Vann, R, 'Corporate Tax Reform in Australia: Lucky Escape for Lucky Country?', British Tax Review, 2013, No. 1, pp. 59-75 and is reproduced by agreement with the Publishers
18 Pages Posted: 22 Apr 2013
Date Written: April 21, 2013
This article considers the recent final (non) report of the Australian Business Tax Working Group which was set up to review how to finance a cut to the corporate income tax rate and/or whether Australia should adopt an allowance for corporate equity or other structural reform to the corporate tax system, subject to a strict revenue neutrality constraint. After outlining the broader political tax reform landscape in Australia, the article analyses the review and the reasons for its failure to come up with any concrete proposals on changes to the corporate tax, apart from a modest loss carry back that misses its mark in most cases.
Keywords: Australia, tax reform, corporate tax, tax rates, allowance for corporate equity, income tax base broadening
JEL Classification: K10, K30, K34
Suggested Citation: Suggested Citation