Published on 28 Feb 19
by THE TAX INSTITUTE
The Tax Institute welcomes the opportunity to make a submission to the Treasurer in relation to the 2019-20 Federal Budget. We refer to the media release issued by the Assistant Minister for Treasury and Finance, Senator the Hon Zed Seselja, inviting submissions for the 2019-20 Federal Budget where the Government has expressed its intention ‘to keep the economy strong and guarantee the essential services on which Australians rely’.
The Tax Institute considers that a structurally sound Australian tax system is required to support the Government’s goal of keeping the economy strong and ensuring sufficient revenue is raised to support the provision of essential services relied upon by Australians.
To achieve a structurally sound Australian tax system, one must cast an honest and critical eye over the current system and decide whether all the features of the current system should remain or should be removed in favour of new or modern features that better support Australia’s economic needs. Such a pursuit requires a strong political will.
The Tax Institute is Australia's leading professional association and educator in tax, with offices in most major cities. Focusing solely on tax, the Institute provides the best resources, education and networks. Our mission is to equip tax professionals with everything they need to demonstrate the highest level of expertise and increase the advancement of public knowledge and understanding.
We are also committed to propelling members into the future and onto the global stage with the introduction of the Chartered Tax Adviser designation.