Tax policy is evaluated according to three criteria: equity, efficiency and simplicity. This paper looks at the history of the withdrawn New Business Tax System (Entity Taxation) Bill 2000, which proposed to tax non-fixed trusts in a manner stated to be comparable to the taxation of companies. The Bill attracted almost universal criticism. The three criteria for evaluating tax policy are applied to the Non-Fixed Trust Regime to understand why the Regime was not implemented. The Non-Fixed Trust Regime did not succeed because it sought to apply a regime to non-fixed trusts that would have been much more onerous than that applying to other corporate entities. The Non-Fixed Trust Regime would have been less efficient, less equitable and less simple than the prevailing trusts taxation regime.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Publisher Info
Paper provided by ATAX, University of New South Wales in its series Taxation with number
eJournal of Tax Research Vol 3 No. 2.
For technical questions regarding this item, or to correct its listing, contact: (Research Assistant) The email address of this maintainer does not seem to be valid anymore. Please ask Research Assistant to update the entry or send us the correct address..