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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.
IPA's pre-Budget submission: http://bit.ly/2jxoU7L
About the Institute of Public Accountants
The IPA, formed in 1923, is one of Australia’s three legally recognised professional accounting bodies. In late 2014, the IPA acquired the Institute of Financial Accountants in the UK and formed the IPA Group, with more than 35,000 members and students in over 80 countries. The IPA Group is the largest SME focused accountancy organisation in the world. The IPA is a member of the International Federation of Accountants, the Accounting Professional and Ethical Standards Board and the Confederation of Asian and Pacific Accountants. The IPA was recognised in 2012 as Australia’s most innovative accounting organisation and listed in the top 20 in the 2012 BRW Most Innovative Companies List.
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