A co-operative approach to taxation: the application of business taxation to socially oriented co-operative entities in Australia.

Co-operatives are business entities owned by their members and governed democratically with a view to providing benefits for their members and communities. Not driven by the need to maximise short-term profitability, they tend to have a long-term view of business, serving both economic and social needs. With a legal regime that differs from that of commercial, capitalbased companies and a philosophy and purpose that are socially focused and community based, the question arises: how are co-operatives taxed in Australia? This article exposes a regime that is fragmented, ambiguous, inconsistent and complex in its application. Tax policy will become increasingly important as co-operatives, as a business model, increase. This article was inspired by Emeritus Professor John Taylor's contribution to the literature on the taxation of business entities, including his work related to this topic. [ABSTRACT FROM AUTHOR]