Australia is failing in its pursuit of global capital and investment, particularly with a globally uncompetitive company tax rate, unchanged since 2001. By contrast, Canada has been a successful tax reformer, with the federal-provincial corporate tax rate falling from 43% in 2001 to 27% in 2016 and the virtual elimination of capital taxes, amongst other policies.
Has Canada powered ahead of Australia because of Canada’s lower tax burden on business? Why has Canada succeeded in tax reform while Australia has failed? Will tax changes proposed by Donald Trump in the US be game changers for both countries?
The Centre for Independent Studies (CIS) and the Canadian Australian Chamber of Commerce (CACC) are pleased to host a joint event discussing these and other questions. This event will hear from Canadian tax expert, Dr Jack Mintz, President’s Fellow, School of Public Policy at the University of Calgary and former chair of the Canada’s business tax panel that led to Canada’s reform, and Michael Potter, Research Fellow at CIS.
The event will also discuss the sweeping implications of the US Republican party’s tax plans for the US, Canada, and Australia: how the plans could encourage capital flight from Australia and Canada and severely worsen Australia’s disadvantage in the competition for global capital.