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30 Jul 10 Preamble - Friday, 30 July 2010

A big thank you to all members who took the time to nominate the top three tax issues you regard as the most important in the 2010 Federal election. We were very pleased with the level of response.

On Tuesday 27 July 2010 the Taxation Institute issued a media release with the results of the member survey: "Tax Professionals say tax treatment of Trusts and Superannuation are key Swan-Hockey Debate issues". In this statement we highlighted that the ongoing uncertainty over the tax treatment of trusts has emerged as the top election issue for Australia's taxation professionals. Taxing of trusts was nominated by 50% of respondents as a top tax issue for the election. Implementing a long term policy for the taxing of superannuation (47%), tax incentives for small business (46%) and reducing the number of state and local government taxes (44%) are the other main concerns.

The Taxation Institute has invited Treasurer Wayne Swan and Shadow Treasurer Joe Hockey to meet in a debate about tax policy. Our proposal for a debate was sent to the Government and Opposition well before the start of the election campaign. Both major parties are yet to respond. I will keep members updated on progress as we continue to communicate your key policy concerns.

Please see below for details of other activities this week.

Kind regards
Robert Jeremenko FTIA

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