THE INSTITUTE of Public Accountants (IPA) has submitted its pre-Budget submission to the Federal Government urging for action on an array of policy fronts -- in particular, the need for genuine and holistic tax reform.
“Our pre-Budget submission is closely aligned with our Australian Small Business White Paper with many recommendations to support the productivity and growth of the sector,” IPA chief executive officer, Andrew Conway said.
“Unless Australia can stem the tide of the flagging productivity levels, our economy will continue to decline and our current living standards will suffer accordingly.
“Taxation is just one area that can stimulate economic growth if done correctly," he said.
“Currently we are seeing tax policy proposals from the Government and the Opposition which are quite disparate and we need all parties to be at least roughly on the same page if true and bold tax reform is to take place.
“The community needs to give the Government and Opposition to have the robust conversation on tax that is required.
“All Australians need to stand up and put the public interest ahead of political and self-interest.
“We will continue to voice our disappointment and frustration with the stalled tax reform process.
“A piecemeal approach is sub-optimal and may even prove harmful to long term reform,” Mr Conway said.
More information on the IPA’s pre-Budget submission: https://www.publicaccountants.org.au/media/2025280/Pre-budget-sub-2019-20.pdf