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New On The Network Today
This feed is published daily with selected new or updated
content from across our network. For a list of network sites, many of
which feature daily news, see below. |
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| 29/07 New
Lowtax Editor Column, by Kitty Miv |
| 28/07 New
PBTG Editor Column, Caroline, PBTG editor |
| 27/07 UK Launches Raft Of Tax Consultations, Tax-News.com |
| 26/07 Fat
Tax On The Menu
, Jeremy Hetherington-Gore blog entry |
| 23/07 Sarkozy Seeks 'Fiscal Convergence' With Germany, Tax-News.com |
| 20/07 Singapore
Base For Tuvalu OIFC, Tax-News.com |
| 19/07 Expats
Turn Backs On US Taxes, Tax-News.com |
| 16/07
Congress Approves US Financial Reform Bill, Tax-News.com |
| 15/07 New
Lowtax Editor Column, by Kitty Miv |
| 15/07 St
Vincent & The Grenadines, Investors Offshore special feature |
13/07 Tax-News.com
Jersey Review 2010-2011 |
| 12/07 Goodbye
To All That, Jeremy Hetherington-Gore blog entry |
| 09/07
Antigua Pursuing Trade Sanctions Against US, Tax-News.com |
| 08/07 New
Lowtax Editor Column, by Kitty Miv |
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06/07 Hong
Kong Full PBTG Guide, added to Personal Business Tax Guide |
| 05/07
Australian Mining Tax Agreement Reached, Tax-News.com |
| 02/07 Online
Trading For Expats, Investors Offshore special feature |
| 29/06 EC
To Extend Common System Of VAT, Tax-News.com |
| 28/06
Lowtax Dubai, annual update |
| 25/06 Jersey
Considers Tax Future, Tax-News.com |
| 22/06 VAT
Hiked In UK Emergency Budget, Tax-News.com |
| 21/06 Steady
Progress In TPP Negotiations, Tax-News.com |
| 18/06 Singapore
- Another Hong Kong?, Investors Offshore special feature |
| 15/06 Swiss
Parliament Approves UBS Agreement, Tax-News.com |
| 14/06 Ethical
Moonshine, Penelope Wise blog entry |
| 11/06 Germany
Purchases Stolen Tax Data Disc, Tax-News.com |
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08/06 Dubai
Full PBTG Guide, added to Personal Business Tax Guide |
| 07/06 G-20
Shelves Global Bank Tax, Tax-News.com |
| 04/06
Lowtax Panama, annual update |
| 01/06
Lowtax Luxembourg, annual update |
| 31/05
OECD And EU Strengthen Tax Cooperation, Tax-News.com |
| 28/05
Lowtax Guernsey, annual update |
| 25/05
Lowtax Jersey, annual update |
| 24/05 Lithuania
Summary PBTG Guide, added to Personal Business Tax Guide |
| 21/05
Lowtax Liechtenstein, annual update |
| 18/05 Latvia
Summary PBTG Guide, added to Personal Business Tax Guide |
| 17/05 Offshore
And The Euro, Jeremy Hetherington-Gore blog entry |
| 14/05 IO
Focus: Barbados, Investors Offshore special feature |
| 03/03
Personal Business
Tax Guide, PBTG, has launched! |
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| Providing essential tax news and information for globally
mobile artists, contractors, entrepreneurs, professionals, small businesses,
sportspersons and entertainers. |
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| Lowtax Network Sites |
| Lowtax Network Portal:
'Low-tax' business and investment in the top 50 jurisdictions covered in
exceptional detail. |
| Tax News: Global
tax news, continuously updated through the day. |
| Investors Offshore:
The independent offshore and alternative investment guide for expatriates
and the globally aware investor. Sponsored by HSBC
Bank International. |
| Law & Tax
News: Daily news and background data on tax and legal developments
for international business. |
| Offshore-e-com:
A topical guide to offshore e-commerce focused on tax and regulation. |
| Lowtax Library:
One of the web's largest and most authoritative business and investment
information sources. |
| US Tax Network:
The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax. |
| NEW! Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers. |
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| Australia Announces Healthcare Shake-up |
by Mary Swire, Tax-News.com, Hong Kong
Friday, March 05, 2010
In what he called the most significant reform since the introduction of Medicare,
Australia’s Prime Minister, Kevin Rudd, announced that the government
would take over 60% of the funding of the country's hospital system in exchange
for about one-third of the Australian states’ goods and services tax (GST)
revenue.
The government, he said, would “build a new national health and hospital
network to deliver better health and better hospitals by establishing a national
network that is funded nationally, and run locally.” The eight state-run
systems will become part of one national network. There will be one set of national
standards to drive and deliver better hospital services.
Whereas all revenues currently raised by the GST are re-distributed to the
states, the government would take around one-third of those revenues, he disclosed,
and “place it in a new National Hospital Fund to be spent only on health
and hospitals.”
In exchange, he added, the government “will take on the dominant share
of funding future demands on the system. At the moment, we pay around 35 cents
in every dollar of public hospital growth funding. Under our reform plan, we
will be funding around 60 cents in every dollar.”
“We will fund 60% of recurrent expenditure on research and training functions
undertaken in public hospitals,” he reiterated. “We will fund 60%
of capital expenditure - both operating and planned new capital investment -
to maintain and improve public hospital infrastructure. Over time, we will also
pay up to 100% of the efficient price of ‘primary care equivalent’
outpatient services provided to public hospital patients.”
He confirmed that the revenue from GST in the new fund - in the order of AUD90bn
(USD81bn) over the first five years of the new arrangements - would be dedicated
entirely to hospital investments. He also disclosed that the government has
estimated that there would be an additional cost to the federal budget of AUD15bn
over the next decade which would otherwise be borne by the states.
He expressed the opinion that this reform would address a fiscal imbalance
in the federation. “If we fail to address this imbalance,” he said,
“the level of government with the least efficient tax base will continue
to bear the burden of the fastest growing area of public expenditure (that is,
hospitals) - with detrimental effects for the national economy.”
In exchange for relieving pressures on state budgets from hospital funding,
the government will require system-wide reforms to “create a better integrated,
unified national health and hospitals network, with national standards, national
transparency and national accountability.”
He will put the health reform package the states on April 11 at the next meeting
of the Council of Australian Governments. If the states and territories do not
sign up to the reforms, the government will take the package to the next election
due later this year.
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| THE LOWTAX LIBRARY
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