liaibasco

what is the ralph committee report? what had it contributed to the australian taxation?

Matt0926

don't know .... more bullshyt like johnny howard (the dead beat wanker)

magpiez

Well here it is in all its long long glory for you to read and work out the impact for yourself.http://www.rbt.treasury.gov.au/publications/paper4/index.htmMaybe you would like to settle in with with about a months supplies of food and water before embarking on this exciting epic tale.

Shibboleth

This looks like a revising of business taxes partly for clearing up past problems, but more to the point, to move Australia toward convergence with International Accounting.In the past, a lot of international standards for Australia were based on Brit accounting (all Brit colonies had similar influence). Over the last 30 years, or so, countries outside the US have been attempting to normalize accounting standards through the IASB:www.iasb.orgThis taxation reform, dated 1999, is very likely to be in close conformity to IASB standards to make it easier for Australian corporations to raise funds. In a world market, Aussie companies would be at a distinct disadvantage if they had no normalized standards with a high level of dependability. There's a lot of money flowing through financial markets, and countries that don't improve their standards get left behind.Taxation is not normally an avenue to accounting standards, but I'm guessing the old tax system had enough roadblocks to make standardizing difficult.