The Australian Tax Office adopted a flexible administrative approach in the transition period regarding lodgment deadlines, payment arrangements and taxpayer mistakes as well as an ongoing openness to reducing compliance costs for businesses where possible (Australian Treasury 2003). Although the states retained control of land and income taxes, customs and excise duties were by far the greatest source of taxation revenue at the time of Federation. Fringe benefits tax is levied on employers, rather than employees, to simplify compliance and administration. While the initiative successfully increased superannuation coverage to approximately two thirds of the population, administration and implementation problems were rife, particularly with respect to the monitoring and enforcement of employer compliance. The onset of the 1930s Great Depression had a significant impact on the (then) federal government’s ability to raise revenue, particularly through customs duties. Over this period, customs duties have declined in importance in comparison to excise duties, reflecting both increased domestic production of goods and a decline in the rates of duty applied to imports. By Federation many of the colonies had introduced income taxes, each with their own definition of assessable income and different rates applying to differing categories of income. The design of these tax systems was largely driven by administrative concerns, rather than principles of equity or efficiency. And that will take years. Jennifer Duke is an economics correspondent for The Sydney Morning Herald and The Age, based at Parliament House in Canberra. Faced with a large budget shortfall, the government introduced the wholesale sales tax (WST) in 1930. The Superannuation Guarantee (SG), introduced in 1992, provides for a percentage of an eligible employee’s remuneration to be directed into a superannuation fund by means of a compulsory employer contribution. Where goods were sold directly by manufacturers or importers to retailers, a notional WST value had to be determined. The latter part of the twentieth century saw significant base broadening in the income tax system with, for example, changes to the tax treatment of fringe benefits, the introduction of a capital gains tax and the removal of accelerated depreciation. Table 1: Company income tax rates since 1915. By 1840, customs duties had been extended beyond luxury goods to essential items such as tea, sugar, flour, meal, rice, grain and pulses (see Mills 1925). The indexation and averaging provisions were removed for assets acquired after 30September1999. The figures suggest these people were barely working. The Australian Constitution allocated the majority of expenditure responsibilities to the states. Amounts above this threshold were taxed at the reduced rate of 15percent.


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