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<p>How is this bad? Unless you send all your clients to U.S. based hosting firms.</p>
<p>It's also nothing new, there was well publicised talks from last years G20 of global tax avoidance/offshoring crackdown by all G20 members, that was going on here still as recent as couple weeks ago with removal of the 1K limit of overseas purchases from 2017, I just see this as part of that.</p>
<p>There have been many named bandied around for that position, Let's face it, Joe cant be worse then some, as someone else pointed out recently by some in Howards era.</p>
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<p>On 17/09/2015 08:30, Skeeve Stevens wrote:</p>
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<div dir="ltr">So.. I woke feeling all excited about the day, then read this news in which I wanted to cry. Can't they give him a portfolio due with skill and experience... like Assistant Secretary for Regional Cow Dung Subsidies?
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<div>From todays (20150917) <a href="https://www.commsday.com/">Commsday</a>:</div>
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<div><strong>Hockey enters mix for comms portfolio, introduces telco-relevant tax measures</strong></div>
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<div>Federal treasurer Joe Hockey has introduced new tax measures targeting multinationals that could help level the playing field between global cloud providers and their Australian counterparts. Hockey introduced the "tax integrity package" at the same time as rumours began to surface that he could potentially be the next communications minister.</div>
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<div>The ABC's Barrie Cassidy reported that Hockey had been offered a chance to remain in Cabinet and take up the communications portfolio, with Scott Morrison widely tipped to become the new treasurer. At a media conference to discuss the new tax legislation, Hockey would only say that he'd had discussions with new prime minister Malcolm Turnbull but would not be drawn on his future role.</div>
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<div>The legislation Hockey has now put before Parliament introduces a multinational tax avoidance package to ensure major international companies operating in Australia, but booking profits offshore, have to pay tax in-country.</div>
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<div>The measures will likely please Australian telcos competing against global cloud companies such as Amazon Web Services, Microsoft and others. At CommsDay's Wholesale and Datacentre Summit in July, Macquarie Telecom CEO David Tudehope said the tax issue was "one of the big sleepers" in the industry.</div>
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<div>"Nobody wants to pay any more tax than they have to, [but] there is a world of difference between what we do and what a number of competitors who are entering the cloud market do, where quite simply they make artificial arrangements... to pay absolutely no tax at all here in Australia," Tudehope said at the time.</div>
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<div>Under a beefed up 'Multinational Tax Avoidance Package', Hockey announced that the legislation would target all multinationals operating in Australia with global revenues above A$1 billion. An estimated 1,000 companies will need to consider the new rules if they have economic activities in Australia but book their Australian sales revenue offshore.</div>
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<div>"This is part of the government's broader commitment to tax integrity, and further legislation in this area will be introduced imminently," Hockey said. "Our tax integrity package includes ensuring the GST applies to all digital products and services, along with lowering the GST Low Value Threshold to zero."</div>
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<div>The legislation also implements the OECD's country-by-country reporting regime and new transfer pricing documentation standards, which the treasurer said gave the Australian Tax Office a better picture of how multinationals companies operate internally.</div>
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<div>"This package of measures has been developed through an extensive feedback and consultation process undertaken by Treasury – along with the result of having Tax Office officials working within key multinationals operating in Australia," he said. "The Tax Office now has additional detailed information of how many of these companies structure their tax affairs to avoid paying their fair share."</div>
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<div>The makeup of the new Cabinet and any portfolio changes is not expected to be announced before the weekend or early next week.</div>
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<div>- Geoff Long</div>
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<p style="margin: 0px; font-size: 13px; font-family: Calibri; color: #20497d;"><br />...Skeeve</p>
<p style="margin: 0px; font-size: 13px; font-family: Calibri; color: #20497d;"><br />--</p>
<p style="margin: 0px; font-size: 13px; font-family: Calibri; color: #20497d;">Skeeve Stevens - <span style="font-size: 12.8px;">The ISP Guy - Internet Provider SME</span></p>
<p style="margin: 0px; font-size: 13px; font-family: Calibri; color: #20497d;">Email: <a href="mailto:skeeve@theispguy.com">skeeve@theispguy.com</a> ; <span style="font-size: 12.8px;">Cell: +61(0)414 753 383</span></p>
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<div style="font-size: 12.8px;"><span style="color: #20497d; font-family: Calibri;">Skype: skeeve; </span><span style="font-size: 12.8px; color: #20497d; font-family: Calibri;">Blog: <a href="http://theispguy.com/">TheISPGuy.com</a> ; Facebook: </span><span style="font-size: 12.8px; color: #20497d; font-family: Calibri;"><a href="https://www.facebook.com/theispguy">TheISPGuy</a></span></div>
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<p style="margin: 0px; font-size: 13px; font-family: Calibri; color: #20497d;">Linkedin: <a style="color: #1155cc;" href="http://www.linkedin.com/in/skeeve">/in/skeeve</a> ; <span style="color: #000000;">Expert360: </span><a style="color: #1155cc;" href="https://expert360.com/profile/d54a9">Profile</a></p>
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