International Tax in the Digital Age: A Blueprint for Allocating Profits. This project aims to investigate tax avoidance by multinational enterprises in the age of the digital economy. It addresses the difficult problem of determining the location in which profits are made. The project expects to generate new knowledge in international tax by developing a blueprint for allocating profits of multinational enterprises between jurisdictions that aligns with profit making activity and reduces intern ....International Tax in the Digital Age: A Blueprint for Allocating Profits. This project aims to investigate tax avoidance by multinational enterprises in the age of the digital economy. It addresses the difficult problem of determining the location in which profits are made. The project expects to generate new knowledge in international tax by developing a blueprint for allocating profits of multinational enterprises between jurisdictions that aligns with profit making activity and reduces international tax avoidance. A systematic structure for allocating profits of multinational enterprises will address the important problem of tax base erosion caused by profit shifting. This will provide the significant benefit of developing a major tool in securing Australia’s revenue base in the digital age.Read moreRead less
Assessing and addressing tax system complexity in Australia. Tax reform and simplification are highly topical in government, business and the wider community, with many initiatives proposed or under way. This project will identify the key factors in tax system complexity, measure the costs it imposes upon taxpayers and develop complexity indices that can test new policy measures and monitor improvements.
Strengthening the Role of Financial Disclosure in the Governance of Superannuation Funds. This project will provide evidence about the usefulness of superannuation fund financial reports and whether funds are disclosing unbiased measures of their financial position and performance. This evidence will directly assist regulators in their deliberations in reforming accounting standards and other disclosure regulation governing superannuation fund financial reporting. Such reforms are necessary to e ....Strengthening the Role of Financial Disclosure in the Governance of Superannuation Funds. This project will provide evidence about the usefulness of superannuation fund financial reports and whether funds are disclosing unbiased measures of their financial position and performance. This evidence will directly assist regulators in their deliberations in reforming accounting standards and other disclosure regulation governing superannuation fund financial reporting. Such reforms are necessary to ensure that all Australians in superannuation funds have access to relevant, reliable and comparable financial information to facilitate full accountability of superannuation fund trustees and informed decision making by stakeholders, and in turn, enhance the security of superannuation savings and maximise retirement incomes.Read moreRead less
The reliability of corporate reporting of greenhouse gas estimates: Determinants, consequences, training for accountants and policy Initiatives. Fundamental to the successful re-allocation of resources to address climate change is that greenhouse gas estimates reported by firms are reliable. The first outcome from this research is the development of tools to assist and train the Australian accountancy profession in the estimation of reliable emissions. The second outcome is identification of fac ....The reliability of corporate reporting of greenhouse gas estimates: Determinants, consequences, training for accountants and policy Initiatives. Fundamental to the successful re-allocation of resources to address climate change is that greenhouse gas estimates reported by firms are reliable. The first outcome from this research is the development of tools to assist and train the Australian accountancy profession in the estimation of reliable emissions. The second outcome is identification of factors associated with the inaccuracy and bias of greenhouse gas emissions reported by companies and the consequences of the inaccuracies for the share market's valuation of emission liabilities. These research findings will identify issues that need to be addressed by regulators to ensure that the greenhouse gas estimates reported by companies are reliable.Read moreRead less
The Role of a Central Bank’s Balance Sheet in Shaping the Economy. In response to the global financial crisis, the world’s major central banks cut their rates to near zero and implemented untested unconventional monetary policies, significantly expanding the size and composition of their balance sheets. More than a decade later, the Reserve Bank of Australia is considering similar balance sheet policies. This proposal aims to develop various frameworks that can be used to simulate and evaluate w ....The Role of a Central Bank’s Balance Sheet in Shaping the Economy. In response to the global financial crisis, the world’s major central banks cut their rates to near zero and implemented untested unconventional monetary policies, significantly expanding the size and composition of their balance sheets. More than a decade later, the Reserve Bank of Australia is considering similar balance sheet policies. This proposal aims to develop various frameworks that can be used to simulate and evaluate when and how to eventually undo unconventional monetary policies in order to prevent a prolonged recession. Thus this research proposal will contribute to the current Australian monetary policy debate while providing some insights on how best to implement such policies, improving the living standards of Australians.Read moreRead less
Quantification issues in corporate valuation, the cost of capital, and optimal capital structure. An estimate of the firm's cost of capital is probably the most important calculation required in corporate finance. It is used as the discount rate in valuation and capital budgeting decisions and forms the basis of pricing structures for many regulated industries. Corporate finance theory has identified the key inputs used to calculate the cost of capital, but the current literature falls short o ....Quantification issues in corporate valuation, the cost of capital, and optimal capital structure. An estimate of the firm's cost of capital is probably the most important calculation required in corporate finance. It is used as the discount rate in valuation and capital budgeting decisions and forms the basis of pricing structures for many regulated industries. Corporate finance theory has identified the key inputs used to calculate the cost of capital, but the current literature falls short of precisely quantifying and measuring many of these inputs. The outcomes from this project will be a framework to quantify three key aspects of the cost of capital - the value of dividend imputation tax credits, the assessment of the optimal capital structure for the firm (in particular, the quantification of bankruptcy and agency costs associated with debt financing), and the estimation of the firm's marginal tax rate.Read moreRead less
The value of financial planning advice - process and outcome effects on consumer well-being. Knowledge of how financial advice contributes to consumer well-being is vital as industry and policy-makers strive to professionalise financial planning and enhance the quality of advice. Outcomes of this research project will inform policy debate and industry practices for improving the value of financial planning advice to consumers and their well-being.
Ensuring Australia's competitiveness by implementing targeted performance measurement systems across the extended supply chain. This project will develop a framework to guide managers in designing, implementing, and using performance measurement systems across the industry supply chain to maximise the potential benefits of supply chain management. The outcomes enhance organisational competitiveness, supply chain competitiveness and boost Australia's economy.
InformationTechnology (IT) Audit Methodologies in the Australian Public Sector: Addressing Mandatory Requirements of International Standards. The primary benefit occurs in relation to National Research Priority 3: Frontier Technologies for Building and Transforming Australian Industries, notably Priority Goal 'Smart Information Use', as it will enable more sophisticated and accurate assessments of current IT audit methodologies. In turn, these improvements will enable more effective IT audits by ....InformationTechnology (IT) Audit Methodologies in the Australian Public Sector: Addressing Mandatory Requirements of International Standards. The primary benefit occurs in relation to National Research Priority 3: Frontier Technologies for Building and Transforming Australian Industries, notably Priority Goal 'Smart Information Use', as it will enable more sophisticated and accurate assessments of current IT audit methodologies. In turn, these improvements will enable more effective IT audits by government audit offices in Australia, bringing reduced risk and increased efficiency to organisations subject to audit, as well as increasing conformance with the new accounting and auditing standards. Furthermore, all Australian citizens, (the indirect clients of public sector audit services), will benefit from well-managed program-delivery systems.Read moreRead less
Supporting Entry and Growth of Australian Businesses via Tax and Transfers. This project aims to characterise the optimal tax treatment of business income for insurance and efficiency purposes. Using new data for Australia, the project expects to first identify key determinants of businesses creation, growth and exit, before and after COVID-19. In light of those determinants, the project expects to develop original macroeconomic models integrating firm dynamics into optimal taxation frameworks. ....Supporting Entry and Growth of Australian Businesses via Tax and Transfers. This project aims to characterise the optimal tax treatment of business income for insurance and efficiency purposes. Using new data for Australia, the project expects to first identify key determinants of businesses creation, growth and exit, before and after COVID-19. In light of those determinants, the project expects to develop original macroeconomic models integrating firm dynamics into optimal taxation frameworks. Expected outcomes include formulating fiscal policies that provide adequate stimulus to businesses, by balancing public insurance and income inequality. This should deliver evidence-based inputs to promote Australia's post-pandemic recovery, through the design of a fairer and more efficient business tax and transfer system.Read moreRead less