Category Archives: Tax

Brisbane ABC radio interview from this morning – why is budget forecasting so difficult?

Posted on May 31, 2013 by Gene Tunny

Steve Austin of 612 ABC Brisbane asked me an interesting question this morning: why is budget forecasting so difficult for Treasury departments? You can listen to my answer at this link: The Upcoming Budget For further information on the challenges … Continue reading →

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Government has to rely on inefficient taxes to fix budget – GST reform needed

Posted on May 27, 2013 by Gene Tunny

Among other 2013-14 Queensland Budget decisions, Treasurer Tim Nicholls today announced that the Government would be: Increasing the insurance duty on general insurance products from 7 to 9 per cent to assist the state in funding the NDIS (Disability Care … Continue reading →

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GST changes should be considered as part of wide-ranging tax and expenditure review

Posted on May 20, 2013 by Gene Tunny

Pat Hession from the Drive program on 630 ABC North Queensland interviewed me this afternoon on the merits of increasing the GST rate and broadening its base to include exempt items such as fresh food. I noted that, from an … Continue reading →

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Flood-proofing levy has merit, but funds should go into Consolidated Revenue

Posted on May 17, 2013 by Gene Tunny

Given Queensland’s budgetary challenges, there is merit in the Government’s plan to raise additional money to pay for flood-proofing projects through a special levy, as reported in the Courier-Mail this morning. I would, however, advise against having the money paid … Continue reading →

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Company tax timing trick is costly for business

Posted on October 23, 2012 by Gene Tunny

Sinclair Davidson has a great article at the Conversation explaining the implications of requiring companies to pay company tax monthly rather than quarterly (Timing is everything), a measure announced in yesterday’s Mid-Year Economic and Fiscal Outlook (MYEFO). Highlights include: The … Continue reading →

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Treasury forecasts agricultural boom

Posted on October 7, 2012 by Gene Tunny

While Dr Parkinson’s speech on Friday attracted attention for his controversial comments on payroll tax, I found the boom in the agricultural sector forecast by Treasury the most interesting thing in the speech. This is a chart of industry shares … Continue reading →

Posted in Agriculture, Tax | 1 Comment

HIA calls for Government action as building industry poised to recover

Posted on July 24, 2012 by Gene Tunny

While I think the Housing Industry Association (HIA) has some top-notch economists, the Industry Roundtable Communique it issued today is overly pessimistic: It was agreed that the housing industry is currently facing the worst conditions in decades and a lack … Continue reading →

Posted in Housing, Tax | 1 Comment

Tax reform roadmap politicises Commonwealth Treasury

Posted on May 12, 2012 by Gene Tunny

When I was at the Treasury, it was well understood that, while Treasury is not independent and works for the Government of the day, Budget documents should nonetheless be written in a non-partisan way, as it would be an inappropriate … Continue reading →

Posted in Budget, Tax | 1 Comment

GST slump will cost Qld Government hundreds of millions

Posted on May 8, 2012 by Gene Tunny

There is some bad news for the Queensland Government in the Federal Budget released tonight (from p. 6 of Budget Statement 3): GST paid to the States is also forecast to be lower than previous estimates. GST expected to be … Continue reading →

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Qld much more costly to run than other States

Posted on February 25, 2012 by Gene Tunny

The Commonwealth Grants Commission announced yesterday that Queensland’s share of GST revenue will increase from around 19% in 2011-12 to 20% in 2012-13, largely reflecting increased costs due to natural disasters (see 2012 Update Report). In addition to its update … Continue reading →

Posted in Budget, Cyclones, Floods, Tax | Leave a comment