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Full-Text Articles in Business
Tax Havens: Will They Survive?, John Mclaren
Long Service Leave In Australia: An Examination Of The Options For A National Long Service Leave Minimum Standard, Rebecca Casey, John Mclaren, John Passant
Long Service Leave In Australia: An Examination Of The Options For A National Long Service Leave Minimum Standard, Rebecca Casey, John Mclaren, John Passant
John McLaren
Long service leave is an employment condition that provides paid leave to employees who serve an employer over a long period of time without a break in service. A common feature of long service leave is continuous service with an employer, which then entitles an employee to paid leave as a reward for their service. This means that in most jurisdictions the leave is generally not portable and is lost when transferring between employers. This paper will explore the long service leave entitlements for national system employees that currently exist in state and territory long service leave legislation in Australia …
Exchange Of Information Agreements With Tax Havens: How Will This Affect The Rights Of Non-Resident Taxpayers And Investors?, John Mclaren
Exchange Of Information Agreements With Tax Havens: How Will This Affect The Rights Of Non-Resident Taxpayers And Investors?, John Mclaren
John McLaren
The Organisation for Economic Cooperation and Development (OECD) appears to have been successful in convincing tax havens and countries with strict bank secrecy laws to exchange information on non-resident taxpayers, investors and businesses using their financial services. As at 18 August 2010, the OECD have confirmed that more than 320 Tax Information Exchange Agreements (TIEAs) and 150 Double Taxation Conventions that incorporate the new transparency standards have been signed between OECD member countries and non-OECD member states since 2006.531 While this situation may be good for tax administrators in the pursuit of their goal of maximising the collection of tax …
Australian Tax Analysis: Cases, Commentary, Commercial Applications And Questions, Cynthia Coleman, Geoffrey Hart, Brett Bondfield, Margaret Mckerchar, John Mclaren, Kerrie Sadiq, Antony Ting
Australian Tax Analysis: Cases, Commentary, Commercial Applications And Questions, Cynthia Coleman, Geoffrey Hart, Brett Bondfield, Margaret Mckerchar, John Mclaren, Kerrie Sadiq, Antony Ting
John McLaren
No abstract provided.
A Uniform Land Tax In Australia: The Potential For This To Be A Reality Post The 'Henry Review', John Mclaren
A Uniform Land Tax In Australia: The Potential For This To Be A Reality Post The 'Henry Review', John Mclaren
John McLaren
No abstract provided.
The Tax Offset For Entrepreneurs: A Critical Review Of The 25% Tax Offset Concession For Small Business, John Mclaren
The Tax Offset For Entrepreneurs: A Critical Review Of The 25% Tax Offset Concession For Small Business, John Mclaren
John McLaren
From 1 July 2005, small business taxpayers using the Simplified Tax System and with a turnover of $50,000 or less are allowed a tax offset of 25 per cent on their tax payable. If turnover exceeds $50,000, the tax offset phases out at 1 per cent until the turnover reaches $75,000. This tax concession was part of the government's election statement made on 26 September 2004 in which the government stated that it wanted to assist and encourage small business entrepreneurs, particularly those set up from home. The steps involved in calculating the amount of tax offset that can be …
Should The International Income Of An Australian Resident Be Taxed On A Worldwide Or Territorial Basis?, John Mclaren
Should The International Income Of An Australian Resident Be Taxed On A Worldwide Or Territorial Basis?, John Mclaren
John McLaren
Many countries impose income tax on the worldwide income of their residents or citizens. This is the case in Australia where 'Australian residents for tax purposes' must pay income tax on their worldwide income including statutory income such as capital gains and dividends. If the government of a country adopts a 'worldwide' basis for imposing income tax on its residents then the existence of tax havens and offshore financial centres becomes an important issue because income from passive investments may not be disclosed and subsequently taxed in Australia. The Australian Government has recently funded 'Operation Wickenby', in an attempt to …
The Act Has Increased Land Tax For All Homeowners And Reduced Stamp Duty: Should This Approach Be Adopted By All States In Australia?, John Mclaren
John McLaren
From 1 July 2012 the Australian Capital Territory (ACT) imposed land tax, in the form of general rates, on all homes in the ACT, including owner occupied homes on a progressive basis. Different marginal rates of tax are applied at different values of the land. The ACT is unique in that there is no local government so the ACT government was able to increase its general rates on owner-occupied homes and reduce land tax on investment properties and commercial properties. As a result of the resultant increase in government revenue, the ACT has substantially reduced stamp duty on real property …
Tax Havens: Do They Have A Future Providing Banking And Financial Services?, John Mclaren, John Passant
Tax Havens: Do They Have A Future Providing Banking And Financial Services?, John Mclaren, John Passant
John McLaren
This paper will attempt to provide an answer to the question: will tax havens continue to provide financial and banking services to non-resident investors in the face of sustained pressure from the Organisation for Economic Cooperation and Development (OECD)1 and the developed nations, in particular the G20? The question encompasses more than just the issue of whether or not tax havens and Offshore Financial Centres (OFCs) will continue to operate as financial centres attracting mobile capital from individuals and Multi-National Enterprises (MNEs) because they have low or no taxes. Two other important considerations which are fundamental to the future of …
Principles Of Taxation Law, Kerrie Sadiq, Cynthia Coleman, Rami Hanegbi, Geoffrey Hart, Sunita Jogarajan, Richard Krever, John Mclaren, Wes Obst, Antony Ting
Principles Of Taxation Law, Kerrie Sadiq, Cynthia Coleman, Rami Hanegbi, Geoffrey Hart, Sunita Jogarajan, Richard Krever, John Mclaren, Wes Obst, Antony Ting
John McLaren
Written specifically for students, Principles of Taxation Law 2010 brings much-needed clarity to this area of law. Utilising many methods to make this often daunting subject achievable, particular features of the 2010 edition include: two new chapters - 'Sources of Taxation Law' and 'Assessable income'; a new tax study guide; clearly structured chapters grouped under helpful headings; flowcharts, diagrams and tables, end-of-chapter practice questions, and case summaries; and the online self-testing component mentor, which provides questions for students of both business and law. Every major aspect of the Australian tax system is covered, with chapters on topics such as goods …
The Oecd And Its Campaign Against Harmful Tax Competition: Is This International Law?, John Mclaren
The Oecd And Its Campaign Against Harmful Tax Competition: Is This International Law?, John Mclaren
John McLaren
Since the late 1990's, the OECD (Organisation for Economic Co-operation and Development) has been very active in its campaign against 'harmful tax competition'. The campaign against tax havens and offshore financial centres involved the naming and shaming of some 36 tax havens. Since then a number of tax havens have agreed with the OECD to reform their bank secrecy laws and to become more transparent in their dealings with other countries. To some extent there have been threats of sanctions against tax havens if they did not agree to co-operate but generally most tax havens have accepted the views of …
Taxation And Company Law Case Book, John Mclaren, Melissa Simpson
Taxation And Company Law Case Book, John Mclaren, Melissa Simpson
John McLaren
The Taxation and Company Law Casebook provides a concise, yet detailed summary of approximately 180 leading Australian and foreign company and taxation cases relevant to the study and practice of Australian company and income tax law. The casebook is designed to be used in conjunction with, and to supplement, a text.
Given The Fact That Australia Has Had A 'Petroleum Resource Rent Tax' Since 1987, Why Should There Be Any Opposition To A 'Mineral Resource Rent Tax'?, John A. Mclaren, Pierre Chabal
Given The Fact That Australia Has Had A 'Petroleum Resource Rent Tax' Since 1987, Why Should There Be Any Opposition To A 'Mineral Resource Rent Tax'?, John A. Mclaren, Pierre Chabal
John McLaren
The Australian Government introduced a resource rent tax on offshore oil and gas deposits in 1987 and since then it has raised in excess of an additional $1 billion a year in revenue over and above the normal company tax on income. At the time it was being introduced a great deal of controversy followed the proposed introduction of the petroleum resource rent tax (PRRT). On 2 November 2011, the Australian government introduced the raft of bills into Parliament for the imposition of a Mineral Resource Rent Tax (MRRT) on profit generated from iron ore, coal and gas from coal …
What Does The Future Hold For Pacific Tax Havens: A Critical Review Of The Campaign Being Mounted Against These Small Nations By The Australian Government And The Oecd?, John Mclaren
John McLaren
No abstract provided.
The "Review Of Australia's Future Tax System": Implications For Local Government In Australia And Recommendations, John Passant, John Mclaren
The "Review Of Australia's Future Tax System": Implications For Local Government In Australia And Recommendations, John Passant, John Mclaren
John McLaren
The report on Australia's Future Tax System (Henry Tax Review) was delivered in December 2009 and it contained a number of recommendations that specifically effected local government in Australia. Other recommendations on road user charges and land tax indirectly effected local government. This article analyses those specific recommendations that concern local government and makes recommendations as to what may be required by local government in the future. The article also discusses road user charges and the potential for land tax to increase the revenue for local government. Within this context, the fact that Australia is facing an ageing population and …
Law Of Investments, John Mclaren, Melissa Naylor, Mary Toohey
Law Of Investments, John Mclaren, Melissa Naylor, Mary Toohey
John McLaren
No abstract provided.
Commercial And Economic Law In Australia, Eugene Clark, Lynden Griggs, George Cho, Arthur Hoyle, John Mclaren
Commercial And Economic Law In Australia, Eugene Clark, Lynden Griggs, George Cho, Arthur Hoyle, John Mclaren
John McLaren
No abstract provided.
The Oecd's "Harmful Tax Competition" Project: Is It International Law?, John Mclaren
The Oecd's "Harmful Tax Competition" Project: Is It International Law?, John Mclaren
John McLaren
On 13 March 2009 the Organisation for Economic Co-operation and Development (OECD) announced that Austria, Luxembourg and Switzerland had agreed to introduce laws to allow for the exchange of information on tax evaders. The OECD has been actively trying to protect the national tax bases of its member states and this has now become an imperative with the global financial crisis and government deficits. The OECD's harmful tax competition project has been actively pursued for the past 12 years and appears to be receiving worldwide acceptance. On this basis it can be strongly argued that it now has the status …
Petroleum And Mineral Resource Rent Taxes: Could These Taxation Principles Have A Wider Application?, John Mclaren
Petroleum And Mineral Resource Rent Taxes: Could These Taxation Principles Have A Wider Application?, John Mclaren
John McLaren
No abstract provided.
The Distinction Between Tax Avoidance And Tax Evasion Has Become Blurred In Australia: Why Has It Happened?, John Mclaren
The Distinction Between Tax Avoidance And Tax Evasion Has Become Blurred In Australia: Why Has It Happened?, John Mclaren
John McLaren
The distinction between tax avoidance and tax evasion has been well established in the Australian taxation system. However, for some time the Australian Government has ignored the difference between the two concepts when it comes to Australians using tax havens and being investigated as part of 'Project Wickenby'.1The Australian Government is deliberately labelling all attempts to minimise income tax through the use of tax havens and offshore financial centres (OFCs) as tax evasion and therefore a criminal act. There have been examples quoted in the press where the Australian Crime Commission, conducting investigations as part of 'Project Wickenby', have gained …
Has The Distinction Between Tax Avoidance And Tax Evasion Become Blurred: Is This Simplification Or Is There Another Agenda?, John Mclaren
Has The Distinction Between Tax Avoidance And Tax Evasion Become Blurred: Is This Simplification Or Is There Another Agenda?, John Mclaren
John McLaren
The Australian common law recognises the important distinction between tax avoidance and tax evasion but the current trend in Australia is for the Australian Government to ignore the difference between the two concepts. It is highly questionable that the difference is being distorted because of a desire to simplify this area of the law. It will be contended in this article that there is a deliberate attempt by the Government to treat tax avoidance as constituting tax evasion and to ignore the legal distinction between the two. For example, the new law to deter the promotion of tax schemes, Division …
Australia Has Had A Petroleum Resource Rent Tax Since 1987: Why The Concern About A Proposed 'Mineral Resource Rent Tax'?, John Mclaren
Australia Has Had A Petroleum Resource Rent Tax Since 1987: Why The Concern About A Proposed 'Mineral Resource Rent Tax'?, John Mclaren
John McLaren
The Australian Government introduced a resource rent tax on offshore oil and gas deposits in 1984 and since then it has raised in excess of an additional $1 billion a year in revenue over and above the normal company tax on income1. At the time it was being introduced a great deal of controversy followed the proposed introduction of the resource rent tax. The Petroleum Resource Rent Tax (PRRT) was introduced by the Petroleum Resource Rent Tax Act 1987 (Cth) and is imposed on the profit at the rate of 40 percent. The Petroleum Resource Rent Tax Assessment Act 1987 …
The 25 Per Cent Entrepreneurs' Tax Offset - A Critical Analysis, John Mclaren
The 25 Per Cent Entrepreneurs' Tax Offset - A Critical Analysis, John Mclaren
John McLaren
It should be acknowledged at the start that any measure to reduce the income tax burden on business, and in particular small business in Australia, is a step in the right direction, given the comparative rates of tax that apply in the Asia-Pacific region. However, using the tax system to attempt to encourage growth in small business may not be the ideal approach, and the purpose of this paper is to critically analyse the new 25% tax offset for entrepreneurs' as well as propose areas that need further research and further options that may be considered to promote the financial …
What Does The Future Hold For Pacific Tax Havens: A Critical Review Of The Campaign Being Mounted Against These Small Nations By The Australian Government And The Oecd, John Mclaren
John McLaren
No abstract provided.
Residential Property, Commercial Property, Goods And Services Tax And Deregistration: A Case Study On How The Gst Law May Have Been Manipulated, Joh Mclaren
John McLaren
When a residential property, being used for commercial purposes is sold to a buyer that intends to operate a professional practice from the premises and one of the vendors is registered for GST, what happens when the registered vendor deregisters from GST ten days before settlement? The purchaser expects to be able to claim the GST included in the price as an input tax credit but on settlement is not given a tax invoice. The purchaser then lodges the Business Activity Statement (BAS) claiming an input tax credit without a tax invoice. The purchaser believed that the Commissioner of Taxation …