States love their cake, too

Article Abstract:

The state governments have been given alternative source of tax collection in form of GST in an attempt to phase out stamp duties that were the primary source of revenue for the states. While the state governments have phased out stamp duties on securities transactions, hotel beds, etc., they are not willing to let go of transfer duties, payroll taxes and land tax. It may be recalled that the essence of the Federal Government's agreement with state governments' in 1999 was to let the states have a free hand over GST in consideration of the states dropping the stamp duties.

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Tax attack

Article Abstract:

The biggest and the most sophisticated auditing and compliance program undertaken by the Australian Taxation Office (ATO) was unleashed at the start of the new financial year. The remarkable comeback by the commissioner of taxation, Michael Carmody is ensuring that taxpayers know the dangers signs that lead to gaining the ATOs attention.

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Tax favors the fortunes

Article Abstract:

Issues are presented concerning the generosity of the taxation system to families whose wealth is passed from one generation to another. The failure of the taxation system to benefit those interested in wealth creation is discussed.

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