From: Ian Parham
Why don't the damned opposition let this one go through to the keeper, just say "yes that's very nice dear", instead of shooting themselves in the foot...I mean they are surely using this avenue themselves if they have any sense...oooohhh....therein lies the conundrum...hmmm.
Govt mulls how to stop rich tax rorters
The government said it was looking at ways to stop wealthy professionals like barristers avoiding income tax.
The announcement, which contains no firm measures, follows reports on Thursday the government would not carry out its promise to crack down on tax avoidance through the use of trusts by the rich.
Attorney-General Daryl Williams and Assistant Treasurer Helen Coonan said they initiated several changes to bankruptcy, tax and family law following a taskforce report on the issue.
The taskforce will set up following reports last year that some barristers were misusing the law to avoid paying tax, they said.
"Work is under way to harmonise family law and bankruptcy law to prevent debtors manipulating these laws to their advantage," the ministers said in a joint statement.
"One option being considered would allow a trustee in bankruptcy the same ability as the Family Court to look through the asset structures of married couples.
"Measures are also being examined to improve the position of third party creditors in family law proceedings and to prevent high-income debtors from using family law as a shield to divest themselves of assets and avoid their tax obligations."
But the opposition attacked the announcement as all talk and no action.
"While the announcement mentions a range of options, it commits the government to doing nothing," Labor's legal affairs spokesman Robert McClelland said.
"Significantly, it contains no promise to release the report of its much-vaunted taskforce into tax avoidance by high-income professionals."
The government has been sitting on the report since January, Mr McClelland said.
"It is pathetic that after more than seven months, all the government can say is that it will further consider the report's recommendations - whatever they are."
....pains in the bum...all of them!
Cheers Ian
Why don't the damned opposition let this one go through to the keeper, just say "yes that's very nice dear", instead of shooting themselves in the foot...I mean they are surely using this avenue themselves if they have any sense...oooohhh....therein lies the conundrum...hmmm.
Govt mulls how to stop rich tax rorters
The government said it was looking at ways to stop wealthy professionals like barristers avoiding income tax.
The announcement, which contains no firm measures, follows reports on Thursday the government would not carry out its promise to crack down on tax avoidance through the use of trusts by the rich.
Attorney-General Daryl Williams and Assistant Treasurer Helen Coonan said they initiated several changes to bankruptcy, tax and family law following a taskforce report on the issue.
The taskforce will set up following reports last year that some barristers were misusing the law to avoid paying tax, they said.
"Work is under way to harmonise family law and bankruptcy law to prevent debtors manipulating these laws to their advantage," the ministers said in a joint statement.
"One option being considered would allow a trustee in bankruptcy the same ability as the Family Court to look through the asset structures of married couples.
"Measures are also being examined to improve the position of third party creditors in family law proceedings and to prevent high-income debtors from using family law as a shield to divest themselves of assets and avoid their tax obligations."
But the opposition attacked the announcement as all talk and no action.
"While the announcement mentions a range of options, it commits the government to doing nothing," Labor's legal affairs spokesman Robert McClelland said.
"Significantly, it contains no promise to release the report of its much-vaunted taskforce into tax avoidance by high-income professionals."
The government has been sitting on the report since January, Mr McClelland said.
"It is pathetic that after more than seven months, all the government can say is that it will further consider the report's recommendations - whatever they are."
....pains in the bum...all of them!
Cheers Ian
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