MEDIA RELEASE – James Harker-Mortlock – Independent for Hume – Tuesday 18th June 2013 TAXATION REFORM – CHARITY BEGINS AT HOME FOR THE TOP END OF TOWN “The revelations over the weekend that certain high profile individuals are to be investigated for the use of overseas tax havens underlines the urgent need for reform and simplification of the current taxation system. Currently, high income earners often use elaborate tax arrangements in offshore tax havens and devices such as private charitable trusts and superannuation/pension schemes to minimise their tax obligations. Amounts donated with great fanfare to charity often represent only a fraction only of tax owed. Too often, rather than being chastised and made to pay their dues, these individuals are rewarded, often featuring in Honours Lists, for services to the very community they are in effect defrauding! I have had personal experience of one such individual laughing about how he had manipulated the charitable donations system to his own tax advantage whilst receiving public plaudits for his ‘charitable’ acts. This same individual makes donations to politicians and political parties in order to influence both policy and the receipt of honours. If elected to Parliament, I will be proposing legislation which will ensure that anyone wishing to claim Australian citizenship will have to nominate Australia as their place of full-time residence for tax purposes. This will not impact negatively upon Australians living in countries with which Australia has a double taxation treaty arrangement. Companies and other entities owned or controlled by an Australian citizen living overseas will also be regarded as Australian based entities for taxation purposes. Funds deposited in offshore tax havens will be regarded as deposited in Australia for taxation purposes. The use of private charitable trusts and superannuation/pension funds for tax minimisation purposes will be banned. Genuine charities will have nothing to fear but charities established essentially as income redistribution and tax minimisation schemes for wealthy individuals would be in the gun. I will seek an enquiry into the use of derivative transactions as a means of tax avoidance and minimisation. I will seek an enquiry into political donations by expatriate Australians or entities controlled by them. I will seek also the establishment of a highly resourced task force within the ATO to investigate the tax arrangements of all high worth individuals claiming Australian citizenship living overseas. Simplification of the tax system would not only neutralise the need for high income earners to participate in exotic tax minimisation schemes but would also provide direct benefits to ordinary Australians. As has been seen overseas, such reform would deliver greater revenue to government to apply to much needed infrastructure and services and would also reduce compliance costs for the community as a whole. I will have more to say on taxation reform over the coming weeks.” ABOUT JAMES HARKER-MORTLOCK. James is a former Chairman of the Burrinjuck Nationals and was Campaign Director for Katrina Hodgkinson at the 2011 state election. Whilst in the Nationals, James served on their state Natural Resources and Energy Policy Committee covering issues such as strategic agricultural lands, aquifer interference, wind turbines, and other topics of relevance to rural Australia. James was involved with the Yass farmers’ action group seeking reform of the LHPA system in New South Wales. In 2012, after a back-room deal was done with the Liberal Party which prevented the National Party from running a candidate of their own in Hume, James resigned from the National Party to stand as an independent right of centre candidate for the seat. James has served the Coalition for many years since his days involved in student politics at Sydney University in the 1970’s. James ran as an endorsed Liberal candidate in the seats of Parramatta (1983) and Sydney (1984) after a stint working at the Liberal Party Federal Secretariat in 1979. In 2004 he ran as an independent candidate for the Senate under the ‘Big Push for Small Business’ banner. He provided his preferences to the Coalition at that election. If elected to represent Hume, James will align with the Nationals. James’s community involvement includes support for over twenty years for intervention in East Timor and as Secretary of the Australia-Solomon Islands Friendship Association lobbying for a peace keeping mission to be sent to the Solomons. He is currently a board member of the charity Australian Desert Expeditions and Treasurer of the University of Sydney Union Alumni and Friends Association and a Committee Member of the Sydney Arts and Social Sciences Alumni Association of the University of Sydney. James lives with his partner, Fiona Fox on a wool and fat lamb breeding property ‘Blackburn’, north of Yass. James maintains also his long term involvement with the electronic publishing industry. James has two children, Fred and Julia, who live and work overseas. James graduated from the University of Sydney in 1978 with an Honours Degree in Arts. For further information, please contact : James Harker-Mortlock - Independent Candidate for Hume - Mobile : 04 111 82649 Email : james@puttinghumefirst Website : puttinghumefirst
Posted on: Mon, 17 Jun 2013 22:13:31 +0000
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