This week The Tax Institute provided our statement of reform priorities to the Government ahead of the tax forum on 4-5 October. The statement outlines some of our key tax reform priorities, but is not an exhaustive list. It serves to highlight some of the areas in which we believe the Government must commit to tax reform. You will be able to access the document shortly on the tax reform website.
The Tax Institute calls for a high-powered independent advisory body to be one of the tangible outcomes of the tax forum to keep the reform ball rolling. The Henry Review provided the tax reform vision, now we need further work on developing the road map for its implementation. The Government should demonstrate a commitment to reform by establishing a commission drawing members from the community and business sectors, as well as from the three tiers of government. The Commission would consult widely and have a clear remit to conduct modelling and provide advice to government on implementation options across a range of reform proposals. The Commission would take its initial direction from policy priorities identified by the tax forum.
Other priorities nominated by The Tax Institute are the reform of inefficient state taxes like stamp duty, an overhaul of the tax transfer system and consideration of a system of integrated road user charges.
I will be attending the tax forum and debating many more tax reform proposals to improve the tax system in Australia. Please feel free to be in touch with me at Tax Policy with your comments and ideas.
This morning I will also be representing The Tax Institute at the hearing of the Joint Committee of Public Accounts and Audit at Parliament House in Canberra. Tax Counsel Tamera Lang ATIA will join me in giving evidence to the Committee in the presence of the Commissioner of Taxation. This new format of the Committee’s hearings allows increased public scrutiny of the ATO and our involvement will serve to enhance this process.
If you are keen, the Committee’s proceedings will be broadcast live via the Parliament’s website and we are due to appear from 11.30am.
Robert Jeremenko FTIA