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Incoming Coalition government’s commitment to tax reform debate welcome

Publication date: 11 Sep 13 | Source: THE TAX INSTITUTE

Wednesday, 11 September 2013: The Tax Institute congratulates Prime Minister-elect Tony Abbott on the Coalition’s Federal Election victory and looks forward to engaging with the incoming government on the tax reform white paper process.

As the country’s leading professional association in tax, The Tax Institute commends the incoming Coalition government on their commitment to a meaningful and mature debate on tax reform.  

“Ensuring our tax system is fair, simple, efficient and sustainable should be at the top of our list of national priorities,” said Tax Institute President, Steve Westaway.

“Tax professionals look forward to working with the incoming government to progress this important and ongoing process which commenced with the Henry Review.”  

Mr Westaway said he was also pleased to note the incoming government’s plans to appoint a respected business leader to produce the white paper on tax reform and appoint four new external Second Commissioners to the ATO. 

“Injecting greater private sector expertise into tax administration, policy and law design will produce more commercially viable results in the national interest.” 

The Tax Institute also encouraged the incoming government to set out an implementation plan to effect the widely welcomed 1.5% company tax rate cut as a matter of priority.

“We also urge the incoming government to provide greater clarity in relation to the over 100 announced tax law measures that remain un-enacted, as well as essential but long-outstanding reforms such as the taxation of trusts,” Mr Westaway said.

ENDS

Contact: 

  • Deepti Paton, Tax Counsel, 0405 286 598