The Tax Institute was quoted in the Weekend Australian Financial Review on Saturday 19 March 2011: “Tax cuts an efficient path”. With regard to Ross Garnaut's tax ideas, The Tax Institute says that his remarks show the importance of having a broad tax debate at the tax summit and it must include a broad-ranging debate on the carbon tax, using tax cuts as compensation, the mining tax, GST, flattening the income tax scales and state taxes.
The Tax Institute was quoted in reference to the tax summit in the Australian Financial Review: “Swan signals threshold rise” and Smart Company on Monday 21 March 2011. In the articles, The Tax Institute said that there was no issue with the delay of the tax summit but it needed more than two days and should debate all aspects of the system including GST and carbon tax.
On the same issue, The Tax Institute was quoted in the Australian Financial Review: “Business hits out on tax summit" and "Calls for early start to debate on reform" and The Australian: In the article, The Tax Institute calls for a structured approach in the lead-up to the forum to ensure tax specialists are engaged with the issues in advance. The main messages included:
- Tax reform is too important to try to rush a discussion over two days.
- There must be a structured approach with a series of working groups engaged well before the tax summit.
- The Government spends a good part of a year working up its budget, and yet it expects tax reform to be sorted in two days.
- The forum must include a discussion to look at ways to eliminate the most inefficient and poorly designed taxes in the country, such as state insurance taxes and stamp duty on property sales.
- On the delay from June to October, the important point is that we have a structured, systematic approach to identifying tax reform opportunities.
The Tax Institute was quoted in the Australian Financial Review on Wednesday 23 March 2011: “GST still on wish-list for tax forum” in reference to the inclusion of GST discussion at the tax summit. In the article, The Tax Institute says that Treasurer Wayne Swan ruled out an increase in the rate of GST, not discussion at the tax forum.
In relation to the Inspector-General of Taxation’s “Review of Reviews”, The Tax Institute was quoted in the Australian Financial Review on Wednesday 23 March 2011: “Millions hit by ATO’s lack of binding advice”. In the article, The Tax Institute says that the report showed the importance of external review of the processes and hopes that the ATO will accept the Inspector-General’s recommendations from his recent change program review (which is yet to be publicly released). A strong and independent advisory board, as recommended in the Henry Review, would assist with the implementation of recommendations.