Australia's company tax : options for fiscally sustainable reform David Ingles and Miranda Stewart
By: Ingles, David
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Contributor(s): Stewart, Miranda Louise.
Material type: 
ArticlePublisher: 2018Subject(s): IMPUESTOS | REFORMA | DIVIDENDOS | IMPUTACIÓN DE RENTAS | AUSTRALIA | SOCIEDADES
In:
Australian Tax Forum: a journal of Taxation Policy, Law and Reform v. 33, n. 1, 2018, p. 101-139Summary: The Australian Government proposes to reduce the company tax rate from 30 to 25%. However, there are widespread concerns that the fiscal cost is not affordable. This article considers alternative reforms of corporate taxation that could fund a corporate tax rate cut, while addressing key non-neutralities in the corporate tax system in an international context. The authors examine the case for abolition of dividend imputation in favour of a lower headline company tax rate and consider the spectrum of reform options for the corporate tax base, which ranges from the cash flow tax and allowance for corporate equity or capital to a comprehensive business income tax which would eliminate interest deductibility. These measures (which could co-exist in a hybrid system) might be accompanied by discounts on dividend and interest income at the personal level, in replacement of dividend imputation.
| Item type | Current location | Home library | Call number | Status | Date due | Barcode |
|---|---|---|---|---|---|---|
| Artículos | IEF | IEF | OP 1867/2018/1-4 (Browse shelf) | Available | OP 1867/2018/1-4 |
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| OP 1867/2018/1-1 Modelling Australian corporate tax reforms | OP 1867/2018/1-2 The unconvincing case for 25% | OP 1867/2018/1-3 International spillovers from proposed US tax reforms | OP 1867/2018/1-4 Australia's company tax | OP 1867/2018/1-5 Dividend imputation | OP 1867/2018/1-6 Tax treaties and the international allocation of production | OP 1867/2018/2 Australian Tax Forum: a journal of Taxation Policy, Law and Reform |
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Resumen.
The Australian Government proposes to reduce the company tax rate from 30 to 25%. However, there are widespread concerns that the fiscal cost is not affordable. This article considers alternative reforms of corporate taxation that could fund a corporate tax rate cut, while addressing key non-neutralities in the corporate tax system in an international context. The authors examine the case for abolition of dividend imputation in favour of a lower headline company tax rate and consider the spectrum of reform options for the corporate tax base, which ranges from the cash flow tax and allowance for corporate equity or capital to a comprehensive business income tax which would eliminate interest deductibility. These measures (which could co-exist in a hybrid system) might be accompanied by discounts on dividend and interest income at the personal level, in replacement of dividend imputation.
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