Can state ICACs go after retired politicians?
Throw partisanship aside - federal icac stat
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Mofra
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- Dec 6, 2005
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- #52
Not sure - but I'm sure they have the ability to prepare a brief of evidence for the state DPP like most government departments / agencies.
A lot depends on the evidence gathering powers granted to them.
At least in NSW, yes. Eddie Obeid and Ian Macdonald were both eventually gaoled by court proceedings that eventuated from an ICAC enquiry that commenced after they’d left politics.
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- #54
Crankyhawk
Brownlow Medallist
It would be an ongoing cost but could make / save money from waste via corruption
Crankyhawk
Brownlow Medallist
Post figures please- will give idea of scale (so can be compared to things like Paladin security)
The cost would be in the ballpark of $110 million a year for a commission with all the bells and whistles.
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- #59
So a pittance compared to say the billions we are losing in tax avoidance etc?
It sounds like a tremendous idea, and your suggestion it will save us billions is not pie in the sky talk at all.
Sometimes governments have to spend money (and, God forbid, tax) for the good of the community. This concept is often lost on right-wingers, who are often perfectly fine with taxpayer subsidies for well-off people (franking credits etc).
Art Corvelay
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Yep (I was being sarcastic)
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- #63
<<<The Australian Financial Review's analysis shows that while Australians have bought $27 billion worth of Apple products since 2002, the company has paid only $193 million to the Australian Tax Office (ATO) - just 0.7 per cent of its turnover.
The newspaper estimates that around $9 billion in profit has been shifted offshore to minimise taxation.
"Apple worldwide in the past four years have avoided paying tax on $US44 billion," said Antony Ting, a senior lecturer in taxation law at Sydney University.
The Australian Financial Review's analysis shows that while Australians have bought $27 billion worth of Apple products since 2002, the company has paid only $193 million to the Australian Tax Office (ATO) - just 0.7 per cent of its turnover.
The newspaper estimates that around $9 billion in profit has been shifted offshore to minimise taxation.
"Apple worldwide in the past four years have avoided paying tax on $US44 billion," said Antony Ting, a senior lecturer in taxation law at Sydney University.
One f}#{#%%# company.....
Do you honestly think the government has zero options to stop this?
why do you think a government that would just love to balance the budget diesnt do this?
Put your partisanship aside. Labor and liberal both take a mill a year from a thinktank that aims to stop governments from stopping this rort.
do you not think multinationals paying zero tax whilst making money from our roads, internet and other public utilities is bad for our democracy?
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- #64
Not pie in the sky.....
<<<About one third of large companies have once again failed to pay a cent of tax, according to the Tax Office's latest corporate tax transparency report released on Thursday.
Key points:
- The ATO's corporate tax transparency data again shows that hundreds of companies have been able to reduce their tax bills to zero
- ATO deputy commissioner Rebecca Saint said the agency was still seeing some companies avoid tax by shifting profits offshore
- Company financial accounts do not always give the full picture of tax positions and the ATO wants companies to be more transparent
Many companies have claimed tax losses and concessions that often go back several years.
There were 1,504 corporate entities in the 2017–18 data that reported tax payable of $52.3 billion — a net increase of $6.6 billion from the previous year.
The ATO's report noted the increase was primarily driven by the mining, energy and water segment, off the back of strong commodity prices, which were up 15 per cent in Australian dollar terms in 2017–18.>>>
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I think we all appreciate all the statistics and evidence you are digging up to reply to this guy but it's very obviously not worth it, the blokes clueless and worse lacks the understanding to know it.
Why are they always tiger supporters too
I didn't know a shitty little ICAC can change international tax laws and corporate governance arrangements.
Power Raid
We Exist To Win Premierships
I hate mem's or meme's or whatever they are, that are misleading.
Anti-corruption
This department is playing an active role in combating corruption through developing domestic policy on anti-corruption and engagement in a range of international anti-corruption forums.
Commonwealth Integrity Commission
On 13 December 2018, the Australian Government announced that it will establish a Commonwealth Integrity Commission (CIC) to strengthen integrity arrangements across the federal public sector.
Public corruption hearings at Commonwealth level: a 'risk worth taking' for integrity?
Labor would at least match the Coalition’s commitment to spend $104.5 million over four years on a federal anti-corruption commission, and while 80% of
www.themandarin.com.au
I will add though, that in addition to corruption, we should have a department that reviews integrity. Tardy disclosures of conflicts of interest, failing to abstain from voting, misleading and deceptive comments, unreasonable forward looking statements, failure to disclose limitations of the powers of government under the constitution etc etc are all areas our politicians constantly fail the electorate.
I would add that meme's like these should also be under review if created by members of political parties.
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- #68
They cant.
they can however investigate the no show retirement jobs that politicians invariably endup with when they finish in politics.
If politicians wished to stop this they could. Both the liberal party and the labor party are accepting big donations from think tanks there to stop them doing anything.
ifi were investigating as an icac agent the statute i would be leaning on would be treason.
Power Raid
We Exist To Win Premierships
If the Financial Review could present their findings to the ATO, I have no doubt the ATO would pursue this under Div4A and transfer pricing
Part IVA: the general anti-avoidance rule for income tax
This publication explains the basic principles about how and when the general anti-avoidance rule for the Income Tax Assessment Act 1936 (the Income Tax Act) applies.
Transfer pricing | Australian Taxation Office
What happens if your business has international transactions with a related party.
The reality though is increasing GST and reducing company tax is the only real solution. A 15% GST and 15% corporate tax rate is probably where we will land in time.
I'm curious though, why you would raise this issue in this thread?
Gough
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- #70
You don't vote, you boast of being non residential for taxation purposes, you're just another bludger.If the Financial Review could present their findings to the ATO, I have no doubt the ATO would pursue this under Div4A and transfer pricing
Part IVA: the general anti-avoidance rule for income tax
This publication explains the basic principles about how and when the general anti-avoidance rule for the Income Tax Assessment Act 1936 (the Income Tax Act) applies.www.ato.gov.au
Transfer pricing | Australian Taxation Office
What happens if your business has international transactions with a related party.www.ato.gov.au
The reality though is increasing GST and reducing company tax is the only real solution. A 15% GST and 15% corporate tax rate is probably where we will land in time.
I'm curious though, why you would raise this issue in this thread?
Power Raid
We Exist To Win Premierships
Yes, I don't vote
My company is not a tax resident but nor does it have operations in Australia. Thus it is structured overseas to avoid double or triple taxation (tax in the country of origin, taxed Australia and then taxed in the origin of the recipient of the dividend), rather tax is paid in the jurisdictions of origin. Importantly this was not set up for my needs but the foreign investors in my fund which include state owned enterprises including state owned EU banks. The issue is not as bad now as double taxation agreements have been adopted since my business was first set up.
However the existing tax uncertainty over managed funds based on shareholder movements rather than operating profits makes Australian funds unattractive to foreign investment.
Perhaps you should get you're facts right or just pull another bong
All true, but not in the likely scope of an ICAC - which would presumably look at corruption, cronyism, etc in the public sector.
Unless your argumernt is high officials within the ATO have been bought off by the multinationals, its basically function of lax rules around the private sector (partly thgrough double-dipping tax agreements, legal but immoral accountancy practices, and so forth) and not any breaches of law, codes of conduct, in the public sector.
Those funds would not be recovered through an ICAC equivalent.
Contracts the government has with the private sector should be another matter. Contracts awarded to the likes of Serco could be under a lot of scrutiny. That billions could be saved in this space is not out of the question. Defence alone could probably get the Budget into surplus by getting value for money from contractors - althoug, again that is largley not ICAC territory (some of it possibly is).
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- #73
Easy to get some of them to pay tax
ban buying ipads in schools, award the contract for australian schools to a good corporate citizen.
extend this to every single government contract.
give a tax break to australian companies that do the same.
Sorry, I can't put partisanship aside. Because the Greens already moved for a federal ICAC and Smoko prevented it. He won't let it happen, probably because he doesn't like what they'll unearth.
