Statement by Business Council of Australia Acting Chief Executive Maria Tarrant
The announcement today by the Treasurer Wayne Swan of details of the tax forum is an important step in regaining momentum on tax reform.
Reform of Australia’s tax and transfer system is a vital area of unfinished business.
It is widely acknowledged that improving Australia’s tax and transfer settings will assist in improving rates of workforce participation and offers the prospect of higher rates of productivity growth.
The BCA does not underestimate the challenge of progressing tax reform, but the task will be aided immeasurably if community and political leaders can be provided with a compelling case for reform.
The tax forum provides a tremendous opportunity to further this cause.
It will of course not be practical to solve every problem with Australia’s tax and transfer system at the forum, but the BCA believes a worthwhile goal will be to work towards an agreement on what sort of tax system Australia should aspire to in the longer term.
The BCA looks forward to participating in the tax forum as well as to generating ideas and contributing to the debate in the lead-up.
We encourage all political parties – and the wider community – to engage constructively in this debate.