IPA CALLS ON GOVERNMENT TO HONOUR WHITE PAPER PROMISE
The Institute of Public Accountants (IPA) has used its 2017/18 pre-Budget submission to urge the Government to carry out its commitment for a promised tax white paper.
“Australia desperately needs large scale tax reform if it is to address the current fiscal issues we face,” said IPA chief executive officer, Andrew Conway.
“There have been too many stop-starts when it comes to much needed reform.
“We believe the terms of reference for the white paper should be broad and include the GST as part of the mix; true reform will not be achieved if the total tax mix is not considered.
“The tax reform white paper needs to draw on all of the existing work already undertaken including the Henry Tax review and the 2011 Tax Forum under the former government in formulating a blueprint to prepare for the challenges ahead.
“The current political environment has made ‘big bang’ tax reform extremely difficult for the major political parties. As a way forward, consideration should be given to establishing an independent tax reform commission to support tax policy decision-making,” said Mr Conway.
For more information on the IPA’s pre-Budget submission go to http://bit.ly/2jxoU7L