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Norfolk Island and Its Tax Haven

Norfolk Island and Its Tax Haven The first Pacific Islands offshore financial centre was born in 1966 on Norfolk Island. This paper analyses the historical trajectory of Norfolk Island’s tax haven in terms of its dialectical tensions with the Australian federal government — tensions between self‐determination and subordination which emerge from Norfolk’s anomalous status as a self‐governing external territory of Australia. Promoters of Norfolk Island’s tax haven have seen its potential to become a major global offshore financial centre blocked by the Australian federal government. Yet, at major critical junctures (in 1976, 1991 and 2000) the Australian federal campaigns that threatened Norfolk’s residential tax haven disintegrated in the face of concerted local opposition, although the danger has never entirely disappeared. The island’s political economy and external relations are likely to remain inextricably bound to its tax haven. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Australian Journal of Politics and History Wiley

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Publisher
Wiley
Copyright
Department of History & School of Political Science and International Studies, The University of Queensland and Blackwell Publishing 2002.
ISSN
0004-9522
eISSN
1467-8497
DOI
10.1111/1467-8497.00259
Publisher site
See Article on Publisher Site

Abstract

The first Pacific Islands offshore financial centre was born in 1966 on Norfolk Island. This paper analyses the historical trajectory of Norfolk Island’s tax haven in terms of its dialectical tensions with the Australian federal government — tensions between self‐determination and subordination which emerge from Norfolk’s anomalous status as a self‐governing external territory of Australia. Promoters of Norfolk Island’s tax haven have seen its potential to become a major global offshore financial centre blocked by the Australian federal government. Yet, at major critical junctures (in 1976, 1991 and 2000) the Australian federal campaigns that threatened Norfolk’s residential tax haven disintegrated in the face of concerted local opposition, although the danger has never entirely disappeared. The island’s political economy and external relations are likely to remain inextricably bound to its tax haven.

Journal

Australian Journal of Politics and HistoryWiley

Published: Jun 1, 2002

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