Taxation | AustralianPolitics.com

Howard And Costello Offer Tax Cuts Package

October 15, 2007

On the first full day of the 2007 election campaign, the coalition has announced a tax package offering income tax reductions across the board.

A re-elected coalition government is proposing to reduce the number of tax brackets to four over a five-year period: 15, 30, 35 and 40 cents in the dollar. It proposes raising the tax-free threshold to $14,000 next year.

The tax cuts are worth more than $34 billion.

The aim of the restructure is to arrive at a tax-free threshold of $20,000 with the top marginal rate set at 40 cents.

New Taxation Era As GST Begins

July 1, 2000

Major taxation changes, including the introduction of a 10% Goods and Services Tax, began today in Australia. Reaction to the changes is likely to determine the fate of the Prime Minister, John Howard, his government and the Opposition over the coming months.

Howard The Wholesale Sales Tax (WST) system that has operated since the 1930s is now abolished. The differential rates of WST operated as taxes on business production. They have been replaced with a flat 10% tax which covers not only goods, but previously untaxed services. The GST operates at the consumption end of the production chain.

Basic food, education, child-care and health are exempt from the GST. Food was included in the government’s original plan, but exempted following the deal struck with the Australian Democrats last year that ensured the passage of the legislation through the Federal Parliament.

Premiers’ Conference: Howard and Costello Press Conference

April 9, 1999

This is the text of the press conference held by the Prime Minister, John Howard, and the Treasurer, Peter Costello.

It follows the Premiers’ Conference which reached a new agreement on Commonwealth-State financial arrangements.

Text of John Howard and Peter Costello press conference.

PRIME MINISTER:

Ladies and gentlemen, today we have had an extraordinarily successful Premiers’ Conference. We’ve reached agreement on all outstanding matters relating to the financial agreement between the governments which has now been signed, sealed and delivered. And the last act in the dramatic transformation of Australia’s taxation system and the last deed required to take this country into the 21st Century with a financial and taxation system fit for the 21st Century is for the Australian Senate to take heed of what the governments of Australia, the Federal Government and the six State governments and the two Territorial governments of Australia have done.

Agreement on Reform of Commonwealth-State Financial Relations

April 9, 1999

The Prime Minister, John Howard, has signed an agreement with State and Territory leaders to reform Commonwealth-State financial relations.

This is the text of a statement released by John Howard:

I am pleased to announce that Commonwealth, State and Territory leaders have today signed a landmark Agreement that will transform Commonwealth-State financial relations, as promised in the Commonwealth Government’s Tax Reform: not a new tax, a new tax system.

The Commonwealth has introduced legislation to provide all of the revenue from the GST to the States and Territories and to protect the rate and base of the GST in accordance with this Agreement. The Agreement will commence on 1 July 1999. As a further sign of the Commonwealth’s good faith, the Commonwealth will attach the signed Intergovernmental Agreement to the A New Tax System (Commonwealth-State Financial Arrangements) Bill 1999 and similarly the States and Territories will attach the Agreement to their legislation.

Posts tagged as “taxation”

Howard And Costello Offer Tax Cuts Package

New Taxation Era As GST Begins

Premiers’ Conference: Howard and Costello Press Conference

Agreement on Reform of Commonwealth-State Financial Relations