The Australian Taxation System - Australian Taxation Office (ATO) - Law Assignment Help

Assignment Task:

Henry told us in his guide to the Institutional Framework of Taxation in Australia that the Australian Taxation System is one of the most complex in the world and is made up of approximately 125 taxes including taxes such as Income Tax, Capital Gains Tax, Fringe Benefits Tax and Goods and Services Tax.  He also mentioned that there are many different organisations that play different and important roles within this system to ensure its integrity and that all Australians are treated equally and with equity.

The Australian Taxation System is embedded in the way of life for all Australian taxpayers. We pay tax on our income, we pay tax when we purchase goods and use services, and we pay tax when we sell assets, to name a few. In return the Government provides public services and benefits e.g. hospitals, schools, defence, and financial assistance to those in need etc.

As we know the government relies heavily on the revenue from taxation to be able to finance its activities and the services it offers to the public.  As such, reforms and reviews on taxation are often the focus of the Australian government.  

Media in Australia and around often contest that large multinationals like Google, Facebook etc., do not paying their share fair of tax to the countries they operate in.  The article below is an example of such criticism and explores the decision by Google to pay an extra $481.5m in taxes to settle a decade long dispute with the Australian Taxation Office (ATO) over its Australian tax bill.

Required

This assessment requires you to comment and offer your opinion on the global discussion surrounding the taxing of multinationals and the perceived view they are not paying their correct or fair share of taxation in the countries in which they operate.  

One approach, as proposed by the Organisation for Economic Co-Operation and Development is to introduce a minimum global rate of tax on multinationals.  

You will need to look at the OCED proposal and voice your opinion on whether you think this is an appropriate way to address the issue. 

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