Statement by Robert Milliner, Chair of the BCA Business Reform Task Force, on the Henry Taxation Review and the Resource Super Profits Tax
The BCA has today released a statement on the government’s response to the Henry tax review. The proposed Resource Super Profits Tax does not rate well against the BCA’s high-level principles for tax reform. Of most concern to the BCA is the failure of the RSPT to meet the principle that the taxation framework be characterised by stability and predictability, with any change prospective so as not to adversely affect existing investments or create perceptions of sovereign risk.
The government’s response to the Henry tax review is not the bold tax reform that was promised. The BCA will continue to press for tax reform that will enhance Australia’s future prosperity.