Chapter 1 - Introduction and overview of the bill

[1]        The Hon Scott Morrison MP, second reading speech, House of Representatives Hansard, 1 September 2016, p. 11.

[2]        Explanatory Memorandum, Treasury Laws Amendment (Enterprise Tax Plan) Bill 2016 (hereafter 'Explanatory Memorandum'), p. 10.

[3]        Explanatory Memorandum, p. 10.

[4]        ATO, 'Imputation', https://www.ato.gov.au/Business/Imputation/, accessed 4 October 2016.

[5]        Explanatory Memorandum, p. 25.

[6]        Explanatory Memorandum, p. 24.

[7]        Explanatory Memorandum, p. 35.

[8]        Explanatory Memorandum, p. 36.

[9]        Explanatory Memorandum, p. 4.

[10]      Explanatory Memorandum, p. 5.

[11]      Explanatory Memorandum, p. 7.

[12]      Explanatory Memorandum, p. 3.

Chapter 2 - Views on the bill

[1]        Financial Services Council, Submission 1, p.1.

[2]        Business Council of Australia, Submission 20, p. 2.

[3]        Business Council of Australia, Submission 20, p. 5.

[4]        Business Council of Australia, Submission 20, p. 4.

[5]        Business Council of Australia, Submission 20, p. 7.

[6]        Business Coalition for Tax Reform, Submission 9, p. 1.

[7]        The Centre for Independent Studies, Submission 13, pp. 5–6.

[8]        The Centre for Independent Studies, Submission 13, p. 6.

[9]        The Centre for Independent Studies, Submission 13, p. 2.

[10]      Minerals Council of Australia, Submission 17, p. 3; Australian Institute of Company Directors, Submission 22, p. 2; CPA Australia, Submission 3, p. 1; Corporate Tax Association, Submission 8, p. 2; KPMG, Submission 7, pp. 9–10; PricewaterhouseCoopers, Submission 16, pp. 1–2; Australian Financial Markets Association, Submission 18, p. 1; Business SA, Submission 19, p. 1; Australian Chamber of Commerce and Industry, Submission 12, p. 6; Chamber of Commerce and Industry Queensland, Submission 2, p. 1.

[11]      Ai Group, Submission 24, p. 3.

[12]      Business Council of Australia, Submission 20, p. 4.

[13]      Business Council of Australia, Submission 20, p. 2.

[14]      Business Council of Australia, Submission 20, p. 12.

[15]      The Centre for Independent Studies, Submission 13, p. 15.

[16]      The Centre for Independent Studies, Submission 13, pp. 16–17.

[17]      CPA Australia, Submission 3, p. 1.

[18]      Corporate Tax Association, Submission 8, p. 2.

[19]      Business Council of Australia, Submission 20, p. 3.

[20]      The Centre for Independent Studies, Submission 13, p. 18.          

[21]      Business Coalition for Tax Reform, Submission 9, p. 2.

[22]      Chamber of Commerce and Industry Queensland, Submission 2, p. 2.

[23]      Ai Group, Submission 24, p. 3.

[24]      Institute of Public Accountants, Submission 11, p. 3.

[25]      Institute of Public Accountants, Submission 11, pp. 4–5.

[26]      Institute of Public Accountants, Submission 11, p. 6.

[27]      Australian Small Business and Family Enterprise Ombudsman, Submission 28, p 2.

[28]      Australian Small Business and Family Enterprise Ombudsman, Submission 28, p. 2.

[29]      Business Council of Australia, Submission 20, p. 3.

[30]      Business Council of Australia, Submission 20, p. 3.

[31]      Business Coalition for Tax Reform, Submission 9, pp. 1–2.

[32]      Minerals Council of Australia, Submission 17, p. 11.

[33]      Australian Chamber of Commerce and Industry, Submission 12, p. 6.

[34]      Australian Council of Social Service (ACOSS), Submission 6, p. 1.

[35]      Justice and International Mission Unit, Synod of Victoria and Tasmania, Uniting Church in Australia, Submission 21, p. 1.

[36]      Australian Council of Trade Unions (ACTU), Submission 15, p. 3.

[37]      Grattan Institute, Submission 5, p. 1.

[38]      Business Council of Australia, Submission 20, p. 11.

[39]      Business Council of Australia, Submission 20, p. 16.

[40]      Business Council of Australia, Submission 20, p. 15.

[41]      Business Council of Australia, Submission 20, p. 17.

[42]      The Centre for Independent Studies, Submission 13, p. 4.

[43]      The Centre for Independent Studies, Submission 13, p. 14.

[44]      The Centre for Independent Studies, Submission 13, p. 24.

[45]      The Centre for Independent Studies, Submission 13, p. 26.

[46]      Minerals Council of Australia, Submission 17, p. 11.

[47]      Minerals Council of Australia, Submission 17, p. 1.

[48]      Australian Chamber of Commerce and Industry, Submission 12, p. 3.

[49]      Australian Council of Trade Unions (ACTU), Submission 15, p. 3.

[50]      Australian Council of Trade Unions (ACTU), Submission 15, p. 6.

[51]      Australian Council of Trade Unions (ACTU), Submission 15, p. 6.

[52]      Grattan Institute, Submission 5, p. 1.

[53]      Grattan Institute, Submission 5, p. 4.

[54]      Grattan Institute, Submission 5, pp. 4–5.

[55]      Justice and International Mission Unit, Synod of Victoria and Tasmania, Uniting Church in Australia, Submission 21, p. 5.

[56]      Grattan Institute, Submission 5, p. 6.

[57]      KPMG, Submission 7, p. 1.

[58]      Business Council of Australia, Submission 20, pp. 17–18.

[59]      The Centre for Independent Studies, Submission 13, p. 19.

[60]      Business Coalition for Tax Reform, Submission 9, p. 3.

[61]      Australian Financial Markets Association, Submission 18, p. 1.

[62]      The Australia Institute, Submission 29, p. 3; Australian Council of Trade Unions (ACTU), Submission 15, p. 7.

[63]      Australian Council of Trade Unions (ACTU), Submission 15, p. 7.

[64]      Business Council of Australia, Submission 20, p. 17.

[65]      The Centre for Independent Studies, Submission 13, p. 29.

[66]      The Centre for Independent Studies, Submission 13, p. 29.

[67]      Business Coalition for Tax Reform, Submission 9, p. 4.

[68]      Corporate Tax Association, Submission 8, p. 4.

[69]      KPMG, Submission 7, p. 2.

[70]      KPMG, Submission 7, p. 11. 

[71]      Grattan Institute, Submission 5, p. 3.

[72]      Grattan Institute, Submission 5, p. 1.

[73]      Most other countries tax corporate profits and then tax investors on dividends, although sometimes at a lower rate. Only five OECD countries operate a full imputation tax system—Australia, Canada, Chile, Mexico and New Zealand. Grattan Institute, Submission 5, p. 2.

[74]      Grattan Institute, Submission 5, p. 2.

[75]      Australian Chamber of Commerce and Industry, Submission 12, pp. 7–8.

[76]      Ai Group, Submission 24, pp. 7–8.

[77]      Ai Group, Submission 24, pp. 7–8.

[78]      Ai Group, Submission 24, p. 8.

[79]      The Centre for Independent Studies, Submission 13, p. 29.

[80]      Business Coalition for Tax Reform, Submission 9, p. 3.

[81]      Business Coalition for Tax Reform, Submission 9, pp. 2–3.

[82]      KPMG, Submission 7, p. 2.

[83]      Australian Council of Trade Unions (ACTU), Submission 15, p. 9.

[84]      The Centre for Independent Studies, Submission 13, p. 27.

[85]      Pitcher Partners, Submission 4, p. 1.

[86]      Pitcher Partners, Submission 4, p. 2.

[87]      CPA Australia, Submission 3, p. 3.

[88]      Pitcher Partners, Submission 4, p. 2.

[89]      Pitcher Partners, Submission 4, p. 4.

[90]      Corporate Tax Association, Submission 8, p. 5.

[91]      Corporate Tax Association, Submission 8, p. 5.

[92]      The Tax Institute, Submission 14, p. 2.

[93]      The Tax Institute, Submission 14, p. 2.

[94]      The Tax Institute, Submission 14, p. 2.

[95]      Financial Planning Association, Submission 10, p. 1.

[96]      Chartered Accountants Australia and New Zealand, Submission 23, pp. 2–3.

[97]      Business SA, Submission 19, p. 1.

[98]      Chartered Accountants Australia and New Zealand, Submission 23, p. 9.

[99]      Chartered Accountants Australia and New Zealand, Submission 23, p. 9.

[100]    Chartered Accountants Australia and New Zealand, Submission 23, p. 3. Similar concerns were expressed by the IPA and the CTA. Institute of Public Accountants, Submission 11, p. 7; Corporate Tax Association, Submission 8, p. 6.

[101]    The Centre for Independent Studies, Submission 13, p. 30; CPA Australia, Submission 3, p. 1.

[102]    Chartered Accountants Australia and New Zealand, Submission 23, p. 2.

[103]    Council of Small Business Australia, Submission 25, pp. 2–3.

[104]    KPMG, Submission 7, p. 1. For more detail, see p. 8 of KPMG's submission.

[105]    Explanatory Memorandum, pp. 24–27.

[106]    Explanatory Memorandum, New Business Taxation System (Miscellaneous) Bill 1999, p. 28; Explanatory Memorandum, Tax Laws Amendment Bill (No. 2), pp. 16–17.