30 March 2006
The Business Council has called for Australia’s tax system to be put under ‘permanent watch’ to make sure it remains internationally competitive.
In a paper on tax reform released today, the BCA said it continued to be concerned with the absence of a strategic reform agenda for tax, given the importance of a competitive tax system to Australia’s ongoing prosperity.
It called for the current review of Australia’s tax system not to be a one-off, and avoid focusing exclusively on whether current tax rates are competitive today, but how these rates match up with current global trends.
“Given the fast-moving nature of global tax reform, a competitive tax rate now may become uncompetitive within a short space of time,” BCA President, Mr Michael Chaney said.
“That’s why tax reform must be a permanent item on the reform agenda.”
Read the news release or download the paper via the links below.