CAs say bold productivity reforms needed: start with tax overhaul

CHARTERED Accountants ANZ (CA ANZ) is adamant that bold tax reform is needed to boost Australia’s productivity.

CA ANZ is part of the coalition of 27 groups representing small, medium and large businesses, universities and the investment community, led by the Business Council of Australia, which delivered a joint submission to the Economic Reform Roundtable.

said the Joint Group of Industry Associations has outlined four priority areas to boost Australia’s economy ranging from the practical to the ambitious.

In addition to its input into the BCA-led submission, CA ANZ also made a separate submission to Treasury on the Economic Reform Roundtable on behalf of its more than 140,000 members, which outlines about 40 recommended actions including mandating digital reporting.

“Australia’s tax architecture is overdue for renovation,” Ms van Onselen said. “Let’s build a system that encourages rather than hinders investment into Australia, rewards innovation and supports sustainable growth.

“We need a tax system that powers productivity, not one that penalises progress – be it individuals or business. Reform must be bold, broad and built for the digital economy,” Ms van Onselen said.

“That said, there are immediate actions the Federal Government can do to get things moving on the productivity and economic front – and CA ANZ strongly believes that this should be mandating digital reporting.

“Digital reporting is the low-hanging fruit of productivity and economic reform. Ninety percent of the world’s major economies already do it, streamlining compliance and unlocking real-time insights that drive smarter decisions. So, it’s time for Australia to catch up,” Ms van Onselen said.

CA ANZ’s full submission to the Economic Reform Roundtable can be downloaded here: 20250725_Economic Reform Submission_CA ANZ.pdf

www.charteredaccountantsanz.com

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