Critical Tax Policy levers shaping the battleground for the next election

Speaking today at The Tax Institute’s 33^rd National Convention in Cairns, Queensland, the Hon David Coleman MP, the Assistant Minister for Finance, indicated to delegates that tax policy is a useful lever with which to pursue economic growth.

Following that theme, Tax Institute Senior Tax Counsel Professor Bob Deutsch CTA commented that “Tax policy is critical to the development of the Australian economy. The next Federal election is likely to be a real battle of ideas about which levers of tax policy should be pulled’.

The Assistant Minister also told the delegates that while the Coalition believes that tax should be as low as possible, tax must be paid at the relevant legislated levels. He said the Government has worked tirelessly to put in place the right legislative framework to ensure that outcome, referencing in particular the Diverted Profits Tax and the Multinational Anti Avoidance law.

Professor Deutsch also reflected on the Commissioner of Taxation’s earlier message to delegates on the need to build trust, confidence and integrity in the tax system.

“As the Assistant Minister has reminded us this morning, sound tax policy is critically important but this must occur in an environment in which all players are confident in the integrity of the system as mentioned in the Commissioner’s address”. 

ENDS

For more information, please contact: Sharon Lenton, Media Relations Contact: 02 8223 0011

The Tax Institute is the leading forum for the tax community in Australia. Our reach includes membership of 12,000 tax professionals from commerce and industry, academia, government and public practice and 40,000 Australian business leaders, government employees and students.  We are committed to representing our members, shaping the future of the tax profession and continuous improvement of the tax system for the benefit of all, through the advancement of knowledge, member support and advocacy.

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