Developing nations need more than words from G20 tax reform

Tax reform is squarely on the agenda for the G20 Brisbane summit in November. The current international tax regime is broken and it’s going to take significant effort on a global scale to fix it. In a recently released CEDA Report on securing the G20’s future, I recommended the role Australia could play in ensuring real and substantive progress is made in international tax reform. There’s a very real need to ensure the Brisbane summit is not just a “talkfest”. One group that stands to significantly win or lose from reform, or lack of it, is developing nations.

G20 host Australia faces hard truths of multinational profit shifting

The G20 Finance Ministers have the opportunity this weekend to endorse the initial recommendations of the OECD on how to address the global problem of multinational tax avoidance. The work of the OECD on the issue to date is substantial. Most notable is the adoption by many nations, including Australia, of the Common Reporting Standard for the automatic exchange of tax information. This standard will allow significant inroads to be made into tax avoidance, particularly by individuals sheltering money offshore. This is the first step in an ambitious tax reform program. There is a long way to go if we are to end the issue now known as Base Erosion and Profit Shifting (BEPS). This week’s release of the first of the OECD recommendations contains some positive signs that further advances will be made. It also recognises some hard truths.

G20 tax reform plan should prevent another Lux leaks

The G20 Communique is good news on the international tax reform front. As part of the G20 commitment to boost economic resilience the Communique commits G20 nations to taking action to ensure fairness in the international tax system. This means they are looking at ways to ensure profits are taxed where economic activities deriving the profits are performed and where value is created.

Tax transparency can work for companies if they do it right

The Tax Transparency Package released by the European Commission last week comes amid global moves by the G20 and others to make it more difficult for companies to avoid paying their fair share of tax. But as serious information sharing plans are hammered out between nations around the world, the Australian government is considering protecting the privacy of some of Australia’s richest people, diluting transparency measures aimed at private companies.

Not all corporate tax avoiders will be snared by new rules

Hockey’s budget announcement of two major tax integrity measures was flagged before the budget was handed down, but even that came as no surprise. Integrity, or lack thereof, in our tax system is a hot topic and an easy target for a Treasurer looking to sell a federal budget. The first of the proposed changes is to our GST regime. No-one likes hearing that they will be paying more tax. But, the charging of GST on supplies of digital products and services in Australia by an off-shore supplier will at least make sense to the general public. With the inherent unfairness in the current system and a revenue raising prediction of A$350 million over the next four years, most are likely to accept the logic of such a measure. The second of the proposed changes are new laws to be included in Australia’s general anti-avoidance provision. New laws, which will apply from 1 January 2016, are aimed at multinational companies engaged in aggressive tax practices. The proposed anti-avoidance law is designed to stop multinationals that artificially avoid a taxable presence in Australia. It is difficult to see how this strategy of addressing specific behaviour through what is considered a general provision will work. And, it is these changes that are already causing confusion.

More than naming and shaming needed to stop corporate tax avoidance

The report of the Senate Economics References Committee inquiry into corporate tax avoidance comes with the subtitle – “You cannot tax what you cannot see”, with a strong focus on increased transparency. The majority of the 17 recommendations in the interim report relate to improved transparency of the tax affairs of corporate taxpayers. This is a significant step in the right direction. Recent experiences in the war on corporate tax avoidance both in Australia and overseas confirm that “information is power”. Most notably, we have seen increased transparency changing the behaviour of multinational enterprises as well as inducing governments to act.

Government cracks down on tax avoidance through foreign investment rules

The Turnbull Government announced yet another measure aimed at addressing tax base erosion and profit shifting, placing additional requirements on new foreign investment under the existing national interest test. In the last 12 months Australia has seen various reforms within the tax system. However, this latest initiative is a shift as it links Australia’s tax regime with its foreign investment regime. It sends a broader signal to the market that Australia will look beyond the collection of tax revenues to a consideration of national interest.

The death of newspapers: Have we reached the tipping point?

News Corp’s only substantial competitor in the print journalism sector may be on the brink of giving up the ghost, as has long been speculated even by its natural supporters such as Beecher. If it does, hundreds more jobs will go, along with the many hundreds of experienced, skilled journalists and editors already shown the door by the company.

Fraudsters change tactics as a crackdown cuts some losses due to online scams

The amount of financial loss from online fraud suffered by people in Western Australia has almost halved, dropping from A$16.8 million in 2014 to A$9.8 million for 2015, according to a statement this January from the state’s Attorney General and Minister for Commerce, Michael Mischin. In addition, the minister noted that losses from relationship and dating fraud have fallen by 55%, to A$4.9 million lost last year. These are both impressive claims, and at face value, there is truth to the statistics. Both assertions are based on data received by WA’s Scamnet, which is the public interface between consumer protection and citizens. While it is good to see a reduction in the number of losses overall, particularly to relationship and dating fraud, it is highly unlikely that the statistics tell the full story.

Dialog

This work, commissioned by Campbelltown Arts Centre, was created as part of an online residency in Western Sydney. The residency took the form of an online survey of students in Western Sydney schools that queried participants on their favourite moments, characters and dialogue from film and television. Using this information as a starting point, the work used appropriated footage to weave together a 6-way cross-screen conversation. Spouting occasionally recognizable phrases that then devolve into meaningless cliché, the narrative content of this fragmented back-and-forth hovers somewhere in between familiarity and non-sense.

Woolies private label strategy will play directly into the hands of Aldi

Woolworths’ plan to rebrand its private label ranges in an attempt to meet changing shopper demands and combat the growth of Aldi will simply play into the hands of this German discounter. This new strategy, a replication of what Coles did in November 2015, will see their existing “Homebrand” and “Woolworths Essential” product ranges combined under the “Essentials” brand name. However, in focusing on price and private label ranges, supermarkets are in a race to the bottom where there are no points of difference in products except for price.

This is not the work

The exhibition THIS IS NOT THE WORK surveyed a selection of community-engaged artist projects from different locations around the world, and followed the pathways of women-centred social networks in order to initiate further collaboration and conversation. The projects documented in this exhibition were examples of artists working with women and community in challenging and unpredictable ways, demonstrating feminist sensibilities and a commitment to non-hierarchical and collective structures. Co-curated by the feminist art collective LEVEL, this exhibition project uses the gallery as a conceptual base-camp or frontline rather than a just site of display. The exhibition was developed and presented at The Block, Creative Industries Precinct, Queensland University of Technology in 2014. A co-authored paper about the project 'THIS IS NOT THE WORK – Feminist Collectives, Collaboration and Curating‘ was presented by members of LEVEL at the 'Feminist Curating: Contemporary Art and Feminism Symposium', Sydney College of the Arts, Sydney in October 2014.

How cancer doctors use personalized medicine to target variations unique to each tumour

The Children’s Cancer Institute in Sydney recently launched an ambitious program. From early next year, scientists will analyse the unique cancer cells of 12 children diagnosed with the most aggressive forms of the disease to find the best treatment for each child. By 2020, they aim to have these individualised treatment options available to all children diagnosed with cancers that have a less than 30% survival rate. This way of tailoring treatment to each person is known as personalised medicine, and advances in DNA sequencing have paved the way for a new era in cancer management.

Inside out: Why do so many great buildings have drab interiors?

An extravaganza of shapes now forms our city skylines. CAD and BIM with their inbuilt links to manufacturing and construction processes has made possible this kind of effusive architectural expression, at least externally. Building developers clearly understand the enormous marketing potential for impact expression. The skilled manipulation of 3D CAD software enables architects to achieve usable gross floor space within an enticingly sinuous, but build-able, envelope. This critical factor is resulting in a fundamental change to the appearance of our cities. It has become plausible, at least, to design and build complex and non-repetitive buildings without incurring prohibitive additional labor costs.However The ground level lobby spaces often do manage to retain some of the external. However, the interior working spaces, particularly in commercial office buildings tend to loose this grand gesture. However - the internal activity - the very reason for the existence of the building – often takes place in monotonous spaces that seem driven predominately by the need to accommodate workstation furniture and functions in dire need of reconsideration.

Why we should design smart cities for getting lost

If smart cities run on big data and algorithms that channel only 'relevant' information and opinions to us, how do we maintain the diversity of ideas and possibilities that drives truly smart cities?