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Henry Review of Tax Concessions for Australia’s ships
- By Stephen Adrian
- Published 12/12/2008
- Shipping Matters
- Unrated
Recently we emailed you an edition of “Shipping Matters!” advising that the Committee on Infrastructure Regional Development and Local Government recommended 14 changes for industry reform (click here for copy). The Committee recommended the introduction of a tonnage tax regime, accelerated depreciation provisions and amendments to the taxation of seafarers
(s 23AG).
At the same time the Federal Government has established a Panel headed by Treasury Secretary Ken Henry to undertake a comprehensive review of the whole Australian Tax System (excluding GST!). An initial consultation process has contributed to the development and release of the Panel's first Consultation paper. The Consultation paper outlines the key emerging issues and, through a series of specific focusing questions, sets the foundation for further community engagement into 2009.
In the summary of the main Consultation paper there is a discussion about the impact of taxes on Fuels Roads and Transport and reference to the submissions for introduction of a tonnage tax.
Click here to the discussion.
Public Hearings will be held during March 2009 followed by a 2 day tax summit in June and final recommendations late next year.
We will keep you advised of the progress of the process and any reforms that may arise.
Stephen Adrian
Director
(s 23AG).
At the same time the Federal Government has established a Panel headed by Treasury Secretary Ken Henry to undertake a comprehensive review of the whole Australian Tax System (excluding GST!). An initial consultation process has contributed to the development and release of the Panel's first Consultation paper. The Consultation paper outlines the key emerging issues and, through a series of specific focusing questions, sets the foundation for further community engagement into 2009.
In the summary of the main Consultation paper there is a discussion about the impact of taxes on Fuels Roads and Transport and reference to the submissions for introduction of a tonnage tax.
Click here to the discussion.
Public Hearings will be held during March 2009 followed by a 2 day tax summit in June and final recommendations late next year.
We will keep you advised of the progress of the process and any reforms that may arise.
Stephen Adrian
Director
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