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Coalition tax plan shows positives but dodges much needed reforms

Publication date: 12 Aug 10 | Source: THE TAX INSTITUTE

A promised taxation white paper to enable further public debate and consultation on future tax reforms has some positives, but is still not tackling the real business of reform, the country’s leading taxation professional body said today.     
Taxation Institute of Australia Senior Tax Counsel Robert Jeremenko said the Coalition’s promise of a green paper followed by a white paper in pursuit of a second-term mandate for a comprehensive tax reform agenda at least leaves the door open for reform.

"Encouraging a full and frank Australia-wide debate on the future of our tax system is good, but it amounts to a plan to have a plan," Mr Jeremenko said.

"Both major parties are shying away from the business of reform. Today the Coalition has ruled out some 40 recommendations of the Henry Tax Review, which is on par with Labor's rule-out rate.

"Neither side of politics has enough commitment for the challenge of tax reform to risk ruling anything in." Mr Jeremenko said both parties have spoken around tax reform with neither having promised anything substantial.

"The Coalition's promise to send 10 million thank-you notes and receipts to taxpayers to show how their tax has been spent, is another example of the lamentable level of tax reform debate in this election campaign," Mr Jeremenko said.


For more information:

Robert Jeremenko, Senior Tax Counsel, Taxation Institute of Australia, T: 02 8223 0011, M 0468 987 300 or Craig Regan, Lighthouse Communications, 02 9692 8811, 0408 448 527; John Hanrahan, 02 9692 8811, 0411 212 965