Critical tax policy levers shaping the battleground for the next election

SPEAKING today (March 16) at The Tax Institute’s 33rd National Convention in Cairns, Queensland, theDavid Coleman MP, the Assistant Minister for Finance, indicated to delegates that tax policy is a useful lever with which to pursue economic growth.

Following that theme, Tax Institute Senior Tax Counsel Professor Bob Deutsch CTA commented, “Tax policy is critical to the development of the Australian economy. The next Federal election is likely to be a real battle of ideas about which levers of tax policy should be pulled."

The Assistant Minister also told delegates that while the Coalition believes that tax should be as low as possible, tax must be paid at the relevant legislated levels. He said the Government has worked tirelessly to put in place the right legislative framework to ensure that outcome, referencing in particular the Diverted Profits Tax and the Multinational Anti Avoidance law.

Prof. Deutsch also reflected on the Commissioner of Taxation’s earlier message to delegates on the need to build trust, confidence and integrity in the tax system.

"As the Assistant Minister has reminded us this morning, sound tax policy is critically important but this must occur in an environment in which all players are confident in the integrity of the system as mentioned in the Commissioner’s address."

www.taxinstitute.com.au

ENDS