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National Australia Bank Limited
Response to Review of Business Taxation
" A Platform for Consultation " Discussion Paper 2
National Australia Bank (the National) is an international financial services group providing a comprehensive range of financial services across four continents and 15 countries. At 30 September 1998, globally, the National had:
The National supports the reform of Australias taxation system, including the reform of business taxation. The overriding aim of Discussion Paper 2 of Business taxation (RBT) is the improvement of the competitiveness and efficiency of Australian business. With the increasing globalisation of investment and capital flows, to achieve this aim Australia must have a business taxation system that is internationally competitive. This will allow Australian multinationals such as the National to expand in foreign markets and to raise cost effective capital from overseas investors.
This is particularly important in the context of the Governments stated objective that it wishes Australia to develop as a regional financial centre.
Set out below is a summary of the Nationals views on the various options outlined in the second discussion paper, "A Platform for Consultation" (Discussion Paper 2). Full details are provided in the attached Appendices. The Nationals support for individual options is dependant on the final approach taken on related major issues. A number of the options are linked and if the linkages are modified the Nationals support for individual options may need to be re-assessed.