The Ralph Review of Business Taxation, which was to make recommendations on the fundamental redesign of the business tax system. ( Australian Tax Handbook 2004 P790 ) The Ralph report made a radical recommendation
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Introduction: In August 1998, the Government released details of tits plans for reform of the Australian taxation system. In the same month, the Treasurer appointed Mr John Ralph as chairman of the Ralph Review of Business Taxation, which was to make recommendations on the fundamental redesign of the business tax system. ( Australian Tax Handbook 2004 P790 ) The Ralph report made a radical recommendation that, for all taxpayers, the existing system of determining taxable in come by replaced by a " cash flow/ tax value" method. Originally referred to as " option 2", this became know as the Tax value Method. One of the key recommendations of the Ralph Review of Business Taxation --- the adoption of a new method of calculating taxable income, called the Tax Value Method. The tax value method was recommended by the Review of Business Taxation as a better way to calculate your taxable...


