Publication date: 30 Mar 15 |
Source: THE TAX INSTITUTE
30 March 2015: The Tax Institute welcomes the release of the Federal Government’s Tax Discussion Paper today to formally begin the much awaited national conversation on tax reform.
According to Stephen Healey, President of The Tax Institute, the discussion paper clearly indicates the scope of the challenges facing the Government regarding the existing structure of the Australian tax system.
“This first step is essentially a blank sheet of paper providing an excellent platform for a broad-ranging holistic debate about the future of our tax system.
“Tax reform in recent years has tinkered round the edges of the tax system leading to increasingly onerous regulation and compliance rather than simplicity.
“Australia’s tax system was designed for a different economy at a different time. The challenge is to keep up with the pace of change in the modern world as well as to create a fairer, simpler and more equitable tax system.
“The Tax Institute has long advocated for a meaningful and mature debate on structural reform to our tax system focusing on the nation's long term interests. We will work closely with our expert members in the months ahead to formulate insightful contributions to the tax reform process.
“Tax reform requires trust, community support and a bipartisan approach - to this end we see the discussion paper as an excellent start to the process,” he said.
For more information contact:
Noel Rowland, CEO, The Tax Institute: 02 8223 0011
Dylan Malloch, Sefiani Communications Group: 0407 620 613
The Tax Institute is the country’s leading professional association and educator in tax. Its 15,000 members include tax agents, accountants and lawyers as well as tax practitioners in corporations, government and academia. The Tax Institute supports the tax profession through education and professional development and works to continually improve tax law and its administration.