Submission in Response to the Business Tax Working Group Discussion Paper
The Business Council of Australia has made a submission responding to the discussion paper issued by the Business Tax Working Group in August 2012.
The submission incorporates a paper commissioned by the Business Council from Deloitte Access Economics titled ‘Options for Company Tax Reform’.
The submission has rejected the options put forward to fund a cut in the company income tax rate and called on the government to roll the findings of the group into a 10-year reform process.
The process ought to build on the work of the Henry review and involve the whole community in considering all taxes with the goal of achieving a more competitive and efficient, future-focused system that raises enough revenue for Australia's needs.