13 Oct 11 Treasurer announces membership and terms of reference of Business Tax Working Group
In media release No 2011/123, issued 12 October 2011, the Treasurer, Wayne Swan, announced the terms of reference and appointments to the Business Tax Working Group (BTWG).
It will focus on reform options that relieve the taxation of new investment:
- in the near term, by looking at changes to the tax treatment of business losses; and
- in the longer term, by looking at options like reducing the corporate tax rate further or alternatives such as allowances for corporate equity.
The working group will also be required to identify options to fund any proposals from within the business tax system.
The Chair of the BTWG is Chris Jordan FTIA, the chairman of the Board of Taxation.
Other members are:
- Jennifer Westacott (Chief Executive, Business Council of Australia)
- Jeff Lawrence (Secretary, Australian Council of Trade Unions)
- Rob McLeod (CEO, Ernst & Young)
- Teresa Dyson (Chair, Taxation Committee, Business Law Section, Law Council of Australia)
- Peter Burn (Director of Public Policy, Australian Industry Group)
- Frank Drenth (Executive Director, Corporate Tax Association of Australia)
- John Freebairn (Professor of Economics, University of Melbourne)
- Rob Heferen (Executive Director, Revenue Group, The Treasury)