Economic News, Investor News

Australian Housing Industry Taxation and Contracting Issues In 2010

The Housing Industry Association of Australia approached all major political parties and asked the hard questions regarding critical policy issues. Find out about Taxation and Contracting issues and the alienation of Personal Services Income (APSI) provisions to professional services businesses…

What is the policy position taken by each major party including the Australian Labor Party, The Liberal National Coalition and The Greens

Labor –

Following an examination of the laws on the alienation of personal services income rules by the Board of Taxation and the Australia’s Future Tax System review, we confirmed our support for the principles behind the alienation of personal services income and confirmed that the changes recommended by both reviews are not government policy.

The Gillard Labor Government strongly supports the choice of nearly one million Australians to pursue a career as independent contractors. Independent contractors work in a variety of industries and occupations from tradespeople to engineers and consultants, and they make a vital contribution to national prosperity and job creation.

In Government, Federal Labor will continue to support independent contractors and small businesses.

Coalition –

We will not change the existing rules that apply to personal services income.

Greens –

The Greens support a revision of the Alienation of Personal Services Income given the issues identified in the Henry Review and will consider carefully any proposals that come before the parliament to change the application of the APSI provisions to professional services businesses.

Source: HIA Media Release

 Subscribe to our FREE newsletter or RSS feed. Receive updates in My Yahoo!, Google, and others. .