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Chartered Accountants callfor collaboration and leadership at Economic Reform Roundtable

CHARTERED Accountants ANZ (CA ANZ) is urging the attendees of this week’s Economic Reform Roundtable at Parliament House to place collaboration and leadership front of mind to ensure opportunities that put Australia on the path to a stronger, fairer economic future are not missed.

CA ANZ CEO Ainslie van Onselen said there was a real opportunity to achieve consensus on a long-term plan to address tax reform.

“We’ve long held the view that Australia’s tax architecture is overdue for renovation,” Ms van Onselen said.

“CA ANZ has advocated for a system that encourages rather than hinders investment in Australia, rewards innovation and supports sustainable growth.

“This week’s discussion is an opportunity to work together to deliver impactful reform. We need a tax system that powers productivity, not one that penalises progress – be it individuals or business, and we strongly encourage those sitting around the table in Canberra to put the nation first.

“Our recommendations of simplifying fringe benefits tax, reducing industry levies, and harmonising state taxes such as land tax and payroll tax, would go a long way to reducing red tape and we’re ready to support the government on a way forward,” Ms van Onselen said.

“Tax reform, aside, there are other productivity boosting measures that should also be on the agenda across the next few days.”

Ms van Onselen said these should include:

Mandatory digital reporting

On top of CA ANZ’s wish list is mandatory digital reporting – a critical reform which could deliver billions of dollars in net productivity gains.

“The Productivity Commission recommended mandatory digital reporting for disclosing entities just this month so progressing this key reform at the Roundtable this week is the logical step forward,” Ms van Onselen said..

“This reform will unlock productivity, improve accessibility to our capital markets, and bring Australia in line with global best practice.

“Australian companies are still stuck using PDFs and hard copy papers, while the world’s largest economies are already mandating or phasing in digital financial reporting.

“This is a negligible outlay for potentially billions in investment and productivity, which is a no brainer.” 

Implementing a road user charge

Introducing a road user charge would create a fairer, more sustainable way to fund Australia’s road network, Ms van Onselen said.

“As vehicles become more fuel-efficient and electric vehicles grow in popularity, relying on fuel taxes to cover road maintenance costs is no longer viable. A modern road user charging system ensures that everyone who uses the roads contributes to their upkeep, regardless of what powers their vehicle,” sshe said.

“Australia’s current road user charging is due for a 21st-century upgrade. With tolls, registration fees, licence charges, fuel taxes, and luxury car levies all in play, the current patchwork of charges is complex and outdated. Streamlining these systems would simplify the experience for drivers and better reflect today’s technology-driven transport landscape.”

Make ASIC searches free to clamp down on money laundering

CA ANZ has long argued for the removal of fees associated with company checks when accessing information on the Australian Securities and Investments Commission (ASIC) registers.

The introduction of approximately 80,000 professional service providers and real estate entities to the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Regime is estimated to cost $13.9 billion over 10 years,” Ms van Onselen said. "This will include those entities accessing company registers to identify and verify companies, directors and office holders.

“Many businesses have to obtain information from ASIC registers to fulfill their statutory obligations, and this disproportionately impacts small businesses, including those who will be obliged to undertake identity verification checks required under the AML/CTF Regime,” Ms van Onselen said.

“We recommend the Corporations (Fees) Act 2001 be amended to remove all fees associated with searching ASIC registers.”

CA ANZ is also part of the coalition of nearly 30 groups representing small, medium and large businesses, universities, farmers, pharmacies and the investment community, led by the Business Council of Australia (BCA), that delivered a joint submission to the Economic Reform Roundtable.

Read CA ANZ’s submission at www.charteredaccountantsanz.com

 

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Public Works Committee starts three new inquiries

THE Parliamentary Standing Committee on Public Works will consider three new referrals under the Public Works Committee Act 1969.

The referred projects have been proposed by Airservices Australia and the Department of Infrastructure, Transport, Regional Development, Communication, Sports and the Arts (the Department). The proposed works were referred by the Minister for Finance, Senator Katy Gallagher, on July 31, 2025.

1. Airservices Australia—Aviation Rescue Fire Fighting Services NexGen Project for the End-of-life Facilities Upgrades – Phase 1A (Queensland and Victoria) – $163.4 million.

The works will support Airservices Aviation Rescue and Fire Fighting Services by updating and modernising select end-of-life training facilities. This will improve their capacity to store new ultra large fire fighting vehicles, and enhance regulatory compliance and workforce engagement.

2. Airservices Australia—PFAS Remediation of the Former Fire Training Ground at Rockhampton Airport, Queensland – $24.975 million.

The works will remediate per- and poly-fluoroalkyl substances (PFAS) contamination resulting from historical firefighting operations at the former Firefighting Training Ground at Rockhampton Airport.

3. Department of Infrastructure, Transport, Regional Development, Communications, Sports and the Arts—Proposed Fit-out of New Leased Premises at 7 London Circuit, Canberra City – $32.5 million.

The works will fit-out the department’s new leased office at 7 London Circuit, Canberra to enable vacation of existing office accommodations.

The committee will conduct public hearings for the inquiries over the coming months. The committee has invited interested individuals and organisations to make submissions by Friday, September 12, 2025. More information is available on the Committee’s website.

Committee chair Tony Zappia MP said the committee was "dedicated to ensuring that public money is spent wisely to serve the public interest for every inquiry it considers".

"Committee members are looking forward to continuing this vital role over the course of the 48th Parliament," he said.

Note: the Parliamentary Standing Committee on Public Works is not involved in the tendering process, awarding of contracts or details of the proposed works. Enquiries on these matters should be directed to the relevant Commonwealth entities.

 

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Speaker takes Parliament to North Queensland

THE Speaker of the House of Representatives, Milton Dick MP has officially kicked off his civics program for the 48th Parliament, committing to visiting all 150 federal electorates. The first electorates being visited are in North Queensland.

Over the next three days, the Speaker will be delivering his Parliament in Schools program and the Australian Parliament House Flag Roadshow in partnership with local Federal Members.

This is the first time both programs will be delivered together, providing students a classroom education session, followed by a practical hands-on session, delivering a once in a lifetime experience.

The Parliament in Schools is delivered in a classroom environment, utilising Parliamentary Education Office resources, teaching students about federation, democracy and the Australian Parliament. Students have the opportunity to hear first-hand from the Speaker and their local member on what a typical day looks like in their electorate and when they are in Parliament House for sitting weeks.

The Australian National Flag Roadshow will teach students about the history and importance of our National Flag, finishing the program by furling the 12.8m x 6.4m APH National Flag on their school oval.

On Monday August 4, the Speaker will visit:

On Tuesday August 5, the Speaker will visit Currajong State School, with the Federal Member for Herbert, Phillip Thompson OAM MP.

On Wednesday August 6, the Speaker will visit:

Speaker Milton Dick said, "My civics programs are multi-partisan initiatives to make civics education accessible to students regardless of their location.

"As Speaker of the House of Representatives, I recommit to uplifting civics education and knowledge across this country, and this starts with our youngest generation," he said.

"Not all students will get the opportunity to travel all the way to Canberra. This is why I am taking these programs on the road and bringing it to them.

"Last parliament I visited over 160 schools across over 70 electorates – from King Island to Far North Queensland to Nullagine," Mr Dick said.

"These students are our future leaders, and it is important that we equip them with the information and tools they need, to go on to be active and engaged citizens."

www.aph.gov.au

 

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Union joins push to wind back 'unfair' investor tax breaks

The Australian Council of Trade Unions (ACTU) has called for the winding back of negative gearing and the capital gains tax discount as the government prepares to hold its economic reform roundtable this month. 

The union’s call adds to mounting pressure from politicians, economists, think tanks, housing advocates and other organisations and experts demanding housing tax reform.

Everybody’s Home spokesperson Maiy Azize said ending property investor tax concessions would be good for housing affordability, wealth equality and productivity. 

“The union movement is showing real leadership by calling for property tax breaks to be wound back. Workers across Australia are being priced out by investor breaks, so the union’s push for reform makes perfect sense,” Ms Azize said.

“These tax breaks most benefit those who don’t need it, while the majority of hardworking Australians pay the price. Billions of taxpayer dollars are lost every year to these tax breaks that are making housing more expensive for everyone - and making inequality worse

“Everyday workers are being pushed to the brink because of Australia’s housing crisis, forced to live further away from their jobs and forgoing the basics just to afford a roof over their heads. Regional employers are also struggling to attract workers because there are not enough affordable homes.

“A productive workforce needs safe, stable, affordable housing. You can’t improve productivity without addressing the housing crisis. Ending these tax breaks is a crucial part of the solution. Ending unfair investor tax breaks will take heat out of the housing market and improve the budget bottom line meaning more funds can be spent on productive investments, like building more social housing.

“Poll after poll shows more Australians are open to winding back investor tax breaks because they know it’s unfair and unproductive. We’re seeing more politicians, economists, think tanks, unions and other organisations calling for reform.

“This month’s economic reform roundtable offers the federal government a critical opportunity to take decisive action on housing and end unfair investor tax breaks for good - it can not afford to let this chance slip away.”

www.everybodyshome.com.au

 

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Joint ATO, AFP and Services Australia operation exposes major scam syndicate

TODAY, officers from the Australian Taxation Office (ATO), Australian Federal Police (AFP) and Services Australia executed search warrants at four properties across Western Sydney associated with individuals allegedly involved in an identity, tax and welfare fraud syndicate targeting innocent Australians.

The ATO-led operation, which commenced in October 2024, has identified four individuals who are alleged to have engaged in an array of offences, including tax fraud, identity fraud, welfare fraud and money laundering. 

The alleged fraud involved the distribution of scam emails to unsuspecting Australians which contained links to websites that, when clicked on, enabled the fraudsters to gather their personal information and take over their identity. 

When the ATO’s systems identified the fraud pattern, the syndicate is alleged to have then turned to recruiting its victims to become complicit money mules, so that it could continue the fraud.

During the searches, officers found multiple devices containing personal identifiable information and documentation that did not belong to the offenders that could allow them to fraudulently access taxpayers accounts.

The syndicate didn’t confine its wrongdoing to Australians. The individuals are alleged to be part of a sophisticated offshore criminal syndicate that specialises in identity takeovers, romance scams and money laundering, through international money transfers and cryptocurrency transactions. 

ATO Deputy Commissioner and Serious Financial Crime Taskforce (SFCT) chief John Ford said this early intervention would protect many more Australians from having their personal information stolen and used by this syndicate to commit fraud in their names.

"Through the warrant activity today, we are sending a clear message to the community: our approach to fraud is unwavering and we will hold these individuals to account. Engaging in offences such as these carries a penalty of up to 20 years imprisonment," Mr Ford said.

"The information and capability sharing between our partner agencies means we are able to track down syndicates like this at the source, disrupt the activity and ensure they face the full force of the law.

"We have also bolstered the strength of our security systems and ATO online services to stop fraud before it happens."

AUSTRAC gets involved

AUSTRAC acting national manager for law enforcement, Markus Erikson, said AUSTRAC was able to provide crucial financial intelligence to the ATO so it could investigate fraudulent activity.

"AUSTRAC works with Commonwealth partners and law enforcement agencies providing financial intelligence to help identify and track down entities that are directly controlling money mule networks," Mr Erikson said. 

"In this instance AUSTRAC also shared, with the ATO, additional mule account data observed in other crime types to assist with understanding the extent of fraudulent activity."

ATO said people should be aware of what information they shared and to never click on a link from a text or email asking for personal information. Once the scammers have personal information, they can access bank accounts, sign in to myGov accounts, steal money and commit fraud in the victim's name.

The new protective features on the ATO app, such as real-time messages and quick account locking, are now an extra safeguard that people can add in keeping personal information safe. It can be downloaded from the app stores.

The SFCT brings together the knowledge, resources and experience of relevant law enforcement and regulatory agencies to identify and address the most serious and complex forms of financial crime. SFCT's message is clear to those who evade or cheat the tax system: there is no place to hide.

For more information about the SFCT, visit www.ato.gov.au/sfct.

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