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Why is Australia’s $10bn tax on offshore investments a problem?

Why is Australia’s $10bn tax on offshore investments a problem?

A report by the Australian Taxation Office has found Australia’s offshore tax system is “in need of reform” and the country needs to consider a “fair and transparent approach” to taxing the profits of foreign-owned companies.

The report, commissioned by the Prime Minister, said a “dive shop” should be a “first priority” in any government’s tax planning.

But the Prime Minster said he was open to changes to the system, which he described as “the gold standard” for tax administration in Australia.

The ABS’ tax expert, David O’Neill, said while there was no doubt a tax system should be reformed, there was also a “big difference between reform and abolishing the tax system”.

“If the Treasurer is really serious about reforming the tax structure and removing the current distortions, I think he should start with a dive shop,” Mr O’Neil said.

Mr OO’s report found that offshore investments accounted for almost two thirds of Australia’s total tax revenue in the 2014-15 financial year. “

And they are going to start asking questions about how much they are actually worth.”

Mr OO’s report found that offshore investments accounted for almost two thirds of Australia’s total tax revenue in the 2014-15 financial year.

Mr ONeil said that meant there were no easy answers for how to reform the tax laws to benefit Australians.

“The problem is that the tax authorities have the power to tax what they deem to be foreign earnings,” Mr Jorgenson said.

Mr Jogenson said there were “a lot of questions” about whether Australia should change its tax rules to favour foreign firms, but also whether it should have any “foreign influence” in the system. “

So if we start to change the rules around the offshore system, then it is a very difficult task.”

Mr Jogenson said there were “a lot of questions” about whether Australia should change its tax rules to favour foreign firms, but also whether it should have any “foreign influence” in the system.

He said the country should be looking at whether it needed to “reform its offshore system in a way that minimises the distortions”.

“And that is not a simple process,” Mr Tait said.