Media releases

The Government will address an abuse of deficiencies in the current business tax system in the period between the release of the second discussion paper of the Review of Business Taxation, A Pl

The Treasurer announced today that cash management trusts will be subject to flow-through taxation under the new business entity tax regime outlined in A New Tax System.

The Treasurer has sought in-principle agreement to a proposed Commonwealth solution that will enable NSW to avoid the $10m penalty recommended by the National Competition Council over its failure t

The Australian Council of Social Services must now accept that the Governments taxation reform package is fair and will improve incomes for low-income earners.

As outlined in A New Tax System (ANTS) the Government is introducing a new ‘per stick’ tobacco excise to replace existing tobacco excise, which is now applied on both a weight and ad-valore

The December quarter CPI outcome is another positive for the Australian economy and continues the impressive inflation performance since the Government came to office.

Today I am announcing the process for the Governments consideration of pre-budget submissions for the 1999-2000 Budget.

The Treasurer is assisted in his portfolio by the Assistant Treasurer, Senator Rod Kemp, and the Minister for Financial Services and Regulation, the Hon Joe Hockey.

As part of the Governments reform package for the Australian waterfront, the Australian Competition and Consumer Commission (ACCC) has been directed to undertake the monitoring of prices, costs and

The passage of legislation through the Parliament to establish Australias new tax system is the key priority for the Government in 1999.

The Prime Minister’s Task Force on International Financial Reform (comprising private and public sector members chaired by the Treasurer) has completed its report and presented it to the Pr

The 1998-99 Mid-Year Economic and Fiscal Outlook (MYEFO), which I release today, demonstrates the impressive performance of the Australian economy in the face of extremely difficult international e

The 1998 Survey of Australia was released by the OECD today.

Mr Peter Day, Deputy Chairman of the Australian Securities and Investments Commission (ASIC) has advised me that he will be stepping down from his position early in the New Year.

I am announcing today a legislative response to a recent Full Federal Court decision in Esso Australia Resources Ltd v FCT to ensure that the tax treatment on disposal of mining property co

The IMF’s New Arrangements to Borrow (NAB) are being activated today to provide loans to the IMF to support its financial assistance to Brazil.

Australia will provide loans of up to $A500 million to the IMF in support of its program for Brazil.

Today’s National Accounts demonstrate the remarkable resilience of the Australian economy to the weaker world economy.

Mr Crean's press release of 26 November 1998 is substantially the same as his release of 6 November 1998 (which was unreported). My release of 6 November 1998 answered it.

Under the Government’s proposed new tax system financial services are input taxed. This means that there is no tax on outputs but the supplier cannot claim input tax credits.