IFRS threat to tax deductions

Article Abstract:

With the international financial reporting standards (IFRS) due to come in to effect from January 1, 2005, the Institute of Chartered Accountants of Australia has asked the Australian Taxation Office to make temporary changes to the tax laws so that Australian companies with overseas headquarters losing tax deductions under the IFRS.

Tax Law, Multinational Corporations, Interpretation and construction, Taxation, International business enterprises, Australia. Australian Taxation Office

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Tweedie the unrelenting

Article Abstract:

According to the chairman of the International Accounting Standards Board (IASB), Sir David Tweedie, global accounting standards will be released by March 2004 under any circumstances. He said that the Australian Accounting Standards Board (AASB) has been invited by IASB to draft a new standard for intangibles after 2005.

Beliefs, opinions and attitudes, International Accounting Standards Board, Intangible property, Intangible assets, Tweedie, David

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Tax in their sights: a simplified three-tier system, lower rates and indexation would stimulate the economy, according to the accounting bodies

Article Abstract:

The demands of the accounting bodies of Australia for stimulating the economy are discussed. The cuts in the marginal income-tax rates, the changes in the welfare system and reduction of the regulatory red-tape for small business are some of their demands.

Forecasts, trends, outlooks, Scientific Research and Development Services, Tax Administration, Small Business, Development, Economic Programs-Total Govt, Administration of Economic Programs, Forecasts and trends, Tax administration and procedure, Economic development, Market trend/market analysis, Tax policy, SOHO

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