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Chartered Accountants Australia and New Zealand (CAANZ) has urged the federal government to avoid piecemeal tax announcements in the upcoming federal Budget.
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Budget should stay clear of tax, says CAANZ
16 February 2015
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4 minute read
Instead, head of leadership and advocacy, Rob Ward, has called for change on a larger scale, warning that taxpayers will continue to lose if the federal government does not bring to life its promise of genuine tax reform.
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“We acknowledge constraints that the government is under but they should uphold their promise of tax reform that is of genuine national and strategic importance," he said.
“Australians need to see the bigger picture and understand the trade-offs necessary for achieving outcomes that provide for our nation’s future needs.
“While the government has shown signs of wanting to pave a clear roadmap to tax reform with the tax white paper, the delay in its release continues to reduce public and business confidence," added Mr Ward.
CAANZ has just released its 2015/2016 pre-Budget submission which focuses on deregulation and measures to protect the current tax base, including:
• Simplifying and clarifying the tax law
• Protecting the tax base through legislative and administrative means
• Setting the objectives for our retirement incomes system
• Collecting tax and other debts owed to the government, particularly from the cash economy
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