Garth CoghlanAug 29, 2023

"There is nothing that the Australian Government has put into the public arena that frankly sets out the climate threat. Contrary to the political transparency and honesty we were promised, the Australian community is being deliberately kept in the dark about this greatest challenge."

https://johnmenadue.com/fatal-mistake-intergenerational-report-misleads-on-climate-risks/

#auspol #ClimateChange #ClimateCrisis

Fatal mistake: Intergenerational report misleads on climate risks - Pearls and Irritations

The climate threats to the Australian economy are systemic, networked into global climate and human systems as a whole.

Pearls and Irritations
Show threadGodfrey642

@wildwoila
None of us should vote for ANY government ever again that doesn't have rigorous wide-reaching achievable FUNDED #climatechange policies centre stage. Oh and taxing the big corps (domestic and international) to fund what needs to happen.

https://www.sbs.com.au/news/article/profit-shifting-a-huge-issue-for-australia/3jregjy41

#climateactionnow #climate #climateaction #profitshifting

Profit-shifting a huge issue for Australia

Deputy Treasury secretary Rob Heferen says profit-shifting is a huge issue for Australia because of its heavy reliance on corporate tax.

SBS News
Aug 29, 2023 at 11:25pmWeb
Show threadTonyAug 30, 2023
@Godfrey642 @wildwoila I’m strongly in favour of a genuine wide ranging tax reform debate in Australia, but we must remain open minded and realize it is complex with trade offs. Your linked article is 8 years old and Australia’s leading International role (largely bipartisan) in multinational tax reform has made progress. Simple across the board to “ tax corporates” unlikely to be in interests of all citizens. But where we have near monopoly advantages such as some mining activities it is in explicable how little we tax compared to other comparable jurisdictions such as Norway
Show threadGodfrey642Aug 30, 2023

@AWStephen @wildwoila
Yes it is 8 yrs old, yet 2 wks ago in a HoR debate an MP stood up and spoke about profit shifting being a problem that's depriving the Fed Govt of billions per annum. So it hasn't improved.

And your point about taxing corps not benefiting everyone. No it wouldn't benefit those who benefit now!!! The top dogs and shareholders: but id argue they've had too much too long and could afford a little *hardship*.

Show threadTonyAug 30, 2023
@Godfrey642 @wildwoila I think taxing of multinationals and things like transfer pricing has improved a lot - ATO compliance projects have raised multi$Bn. But Aust cannot prudently go b/y generally accepted international taxing principles as we are generally a price taker not a price maker ( except where we have monopoly like supply power). If we go too far we all lose out thru poor outcomes. We have to carefully pick our targets, and be brave enough to take hard tax reform decisions to make it all more efficient. Henry Review pretty much set out the approach except now we should definitely be taxing SOME activity more (mining). AND removing subsidies like the diesel fuel rebate!