150 research outputs found

    Reykjavik steps in with new powers

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    New York Fed eyes Maiden Lane III sale

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    Iceland in Talks to Prevent Bank Meltdown

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    Tax Evasion, Tax Avoidance and Tax Planning in Australia: The participation in mass-marketed tax avoidance schemes in the Pilbara region of Western Australia in the 1990s

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    This paper will examine the development of mass-marketed tax avoidance schemes in Australia. It will consider changes in approach to tax avoidance from the ‘bottom of the harbour’ schemes of the 1960s and 1970s to the mass-marketed tax avoidance schemes of the 1990s. It will examine the changing structure of tax avoidance from individually crafted tax avoidance structures designed by accountants and lawyers used by high wealth individuals to mass produced structures targeted at highly paid, and therefore highly taxed, blue collar workers in Australia’s mining industry in the 1990s. In the latter half of the twentieth century ‘unacceptable’ tax planning went from highly expensive, individually ‘tailor made’ structures afforded and used only by the very wealthy, to inexpensive replicated structures marketed to skilled and unskilled tradespeople and labourers. By 1998 over 42 000 Australian taxpayers were engaged in tax avoidance schemes with the highest proportion focussed in the mining regions of Western Australia. In the remote and inhospitable mining community of Pannawonica, which has one of the highest paid workforces in Australia, the Australian Taxation Office identified that as many as one in five taxpayers were engaged in a mass-marketed tax avoidance scheme. The paper will identify the causes of these changes, including the advent of the computerised information technology which permitted ‘mass production’ of business structures designed to exploit business incentives in the Australian taxation system in the 1990s. It will also set these developments within the broader context of the tax compliance culture prevailing in Australia and overseas during this period

    Exploring the dynamics of compliance with community penalties

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    In this paper, we examine how compliance with community penalties has been theorized hitherto and seek to develop a new dynamic model of compliance with community penalties. This new model is developed by exploring some of the interfaces between existing criminological and socio-legal work on compliance. The first part of the paper examines the possible definitions and dimensions of compliance with community supervision. Secondly, we examine existing work on explanations of compliance with community penalties, supplementing this by drawing on recent socio-legal scholarship on private individuals’ compliance with tax regimes. In the third part of the paper, we propose a dynamic model of compliance, based on the integration of these two related analyses. Finally, we consider some of the implications of our model for policy and practice concerning community penalties, suggesting the need to move beyond approaches which, we argue, suffer from compliance myopia; that is, a short-sighted and narrowly focused view of the issues

    Postglacial fringing-reef to barrier-reef conversion on Tahiti links Darwin's reef types.

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    In 1842 Charles Darwin claimed that vertical growth on a subsiding foundation caused fringing reefs to transform into barrier reefs then atolls. Yet historically no transition between reef types has been discovered and they are widely considered to develop independently from antecedent foundations during glacio-eustatic sea-level rise. Here we reconstruct reef development from cores recovered by IODP Expedition 310 to Tahiti, and show that a fringing reef retreated upslope during postglacial sea-level rise and transformed into a barrier reef when it encountered a Pleistocene reef-flat platform. The reef became stranded on the platform edge, creating a lagoon that isolated it from coastal sediment and facilitated a switch to a faster-growing coral assemblage dominated by acroporids. The switch increased the reef's accretion rate, allowing it to keep pace with rising sea level, and transform into a barrier reef. This retreat mechanism not only links Darwin's reef types, but explains the re-occupation of reefs during Pleistocene glacio-eustacy
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