FOREWORD
JOHN MCLAREN, EDITOR
This is the first edition of the Journal of Australian Taxation for 2019. Volume 21(1) consists of four papers covering a range of taxation topics. The first paper by Les Nethercott, Livia Gonzaga and Esin Ozdil examines the Base Erosion and Profit Shifting Action Plan (BEPS Action Plan) aimed to combat tax evasion through improved tax transparency and enhanced exchange of information and co-operation between tax authorities. As part of the BEPS Action Plan’s recommendations on transfer pricing and country-by-country reporting (CbCR) requirements have been introduced in many countries, including Australia. This paper analyses the Australian ‘Country by Country Reporting’ legislation and the impact of compliance requirements on large multinational consolidated groups in Australia. The paper reflects on CbCR issues that include and transcend the taxation sphere, such as general business reporting and corporate governance, as well as the consequences of failing to comply with CbCR obligations. The discussion underlines the need for a cohesive global cooperative effort involving tax authorities and taxpayers. It also raises the need for reporting entities to make the necessary governance adjustments in order to comply with the CbCR obligations, which will support the objectives outlined in the BEPS Action Plan.
The second paper by Jonathan Barrett examines the role of taxes in promoting the experience of home for tenants. His paper contends that taxes can neutralize, to some extent, the different wealth experiences of tenants and owner-occupiers While taxes cannot be effective alone, they may also contribute to closing the gap in consumption experiences of owner-occupiers and tenants. This article investigates how taxes can supplement regulation in promoting an experience of home for tenants.
The third paper by Brett Freudenberg and Anna Mortimore looks at re-thinking tutorials to provide greater authenticity for future tax professionals when studying Advanced Taxation at University. The article reports a simulated work integrated learning scenario – The Firm – which was integrated into tax tutorials. The findings of the outcomes of the ‘firm case study’ are reported, including observations about the advantages and disadvantages of the approach. It is argued that with a re-think of tax tutorials, it is possible to provide a learning environment with greater authenticity that can assist to enhance the students’ professional identity, as well as their technical knowledge; although it is not without its challenges. The authors contend that it is with such enhancement, that students will be better placed to commence their careers as tax advisors.
The fourth paper by Myles Bayliss examines the concept of a Universal Basic Income and the Potential Impact this would have on the Australian Tax System. The author contends that due to changes in the labour force and the effects of growing income inequality, sustenance payment policies such as Universal Basic Income (UBI) are increasingly being looked to as possible solutions. The idea of a UBI provides a different way of conceptualising the transfer system. This paper examines if UBI legislation would be valid under the Australian Constitution and the potential impacts it may have on Australian tax law.
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Articles
Volume 21, Issue 02, Article 01 – Nethercott, Gonzaga and Esin: COUNTRY – BY – COUNTRY REPORTING: A NEW DIMENSION IN TAXPAYER COMPLIANCE OBLIGATIONS IN AUSTRALIA
Volume 21, Issue 02, Article 02 – Barrett: THE ROLE OF TAXES IN PROMOTING THE EXPERIENCE OF HOME FOR TENANTS
Volume 21, Issue 02, Article 03 – Freudenberg and Mortimore: THE FIRM: RE-THINKING TUTORIALS TO PROVIDE GREATER AUTHENTICITY FOR FUTURE TAX PROFESSIONALS
Volume 21, Issue 02, Article 04 – Bayliss: UNIVERSAL BASIC INCOME: THE POTENTIAL IMPACT ON THE AUSTRALIAN TAX SYSTEM