Your shopping cart is empty

New Taxation Institute President urges Government to get on with the reform job

Publication date: 08 Feb 11 | Source: THE TAX INSTITUTE

New Taxation Institute of Australia President Peter Murray has implored the Gillard Government to show it is fair dinkum about its planned Tax Forum by providing some detail.

The Tax Institute says there is an information vacuum that the Government seems reluctant to fill despite hints before Christmas that terms of reference and a timetable were in final drafting.

Mr Murray has used his first communication with the Institute's 13,000 tax practitioner members throughout Australia (including tax advisers from large to small businesses, and in-house corporate advisers) to lament the pre-election timing of the 2010 Henry Review.

"The Henry Review was comprehensive and provided a positive blueprint for tax reform, despite being precluded from reviewing the GST," Mr Murray said.

"It is unfortunate that the report was released in the lead up to the Federal election, as it meant both parties were focussed on vote-winning rather than nuts and bolts reform.

"The Forum arose from a deal struck between the Independents and the Labor Government, and its purpose and agenda is yet to be made clear.

"The Taxation Institute has written to the Treasurer to stress that the forum should cover GST, as well as the recommendations arising from the Henry Review."

Mr Murray's clear message on GST is balanced with praise for the Government's commitment to re-writing Australia's trust income tax laws.

Mr Murray said although the initial intention is to address uncertainties arising from the Bamford case in the High Court, there would be scope to resolve broader issues.

Taxation of trusts was highlighted by Institute members as one of the most pressing areas for law reform in the run to the 2010 Federal election.

Mr Murray will be attending the Taxation Institute's Financial Services Taxation Conference in Queensland on 10-11 February 2011.

"After the devastation of the floods, I am pleased that the Taxation Institute has confirmed its commitment to the economic recovery in Queensland by hosting the Financial Services Taxation Conference as planned."

Mr Murray is a Senior Tax Partner at KPMG. He has been a Partner for 16 years and is the firm's National Leader for Tax Consolidation. He assumes the Institute presidency from David Williams.

Mr Murray is a member of the ATO/Treasury Consolidation Joint Design Team, as well as a number of ATO Consolidation working parties. He is also a member of the ATO's National Tax Liaison Group, where he continues to advocate for a strategic approach to addressing issues of tax interpretation and administration. He has advised a number of KPMG's clients on consolidation issues, as well as domestic and international tax matters.

Aged 51, he has three children aged 22, 19 and 14. His interests outside of work include rugby union, travel and spending time at his family farm in rural Victoria.


About the Taxation Institute of Australia:  The Taxation Institute is Australia's leading professional association in tax.  Working together with the tax profession they aim to improve the tax system and the delivery of tax services through education, sharing of information and consultation.

For more information:

Robert Jeremenko, Senior Tax Counsel, Taxation Institute of Australia, T: 02 8223 0011, M 0468 987 300

Craig Regan, Lighthouse Communications, 02 9692 8811, 0408 448 527.