Treasury Secretary Janet Yellen believes that establishing a minimum global corporate rate will help bring stability and provide a more level playing field for all countries. She will call for a minimum tax levy on corporations around the world in an effort to keep companies from relocating.”
Federal Budget time again and lots of ideas are swirling
around about how we should change the tax mix and re-distribute the revenue.
Unfortunately, the ideas continue to add to already over
complex tax and distribution processes – and the numbers and cost of the public
servants that administer the system.
Australia has one of the highest taxing environments of the developed
world – and some good re-distribution systems. However, there are areas
requiring improvement and great frictional loss in the system due to process
ineffectiveness and inefficiencies.
We need to rethink and reset the system for better outcomes.
1:4 data breaches are caused by malicious trusted insiders. 30% of small business go out of business due to employee theft. Royal Commissions have insisted on enhanced screening processes - for charities and corporates. Aust Standards 4811 for Employment Screening will change to include adjudication. Here is an idea - a solution - a new way- to meet governance, risk & compliance measures that is fair, fast, affordable and standardised.
the Second World War the states were the drivers of Australian fiscal policy,
collecting the bulk of taxes and doing most of the spending. The commonwealth
was a relatively minor player.
In 1942, however, the states agreed to
commonwealth taking over income tax powers.
for the first time since then, the balance of power in the Australian
federation is shifting from the commonwealth back to the states and
governments raise, spend and re-distribute ‘OUR’ money should be an issue of
critical interest to all Australians.