Taxing Non-Fixed Trusts

Elaine Abery

Taxation from ATAX, University of New South Wales

Abstract: 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 This paper looks at the history of the withdrawn New Business Tax System (Entity Taxation) Bill 2000, which proposed to tax non-fixed trusts in a manner stated to be comparable to the taxation of companies.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.

Keywords: Tax; non-fixed trusts (search for similar items in EconPapers)
Pages: 14 pages
Date: 2006-01-10
New Economics Papers: this item is included in nep-pbe
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