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MEDIA RELEASE

Thursday, 29 September 2011

Tax reform needs ongoing community engagement


A robust tax reform agenda is predicated on the involvement of community stakeholder groups, with the government needing to connect with the public in order to achieve optimum tax policy, according to the Institute of Chartered Accountants in Australia (the Institute). The Institutes tax counsel, Yasser El-Ansary, says the federal government, business groups and the community are jointly responsible for continuing the conversation beyond the governments two day tax forum in Canberra next week. He says community groups must have a place in ongoing dialogue with policy-makers in the coming years if major structural reforms are to be realised. The community needs to be on board with tax reform they cant simply have it forced on them. The reality is any change to the tax base could potentially impact all areas of society, so its critical the community has confidence and trust in the process, he says. The Institutes position on the future design and implementation of a more streamlined tax system has been highlighted in a new policy paper, Tax reform: Laying the foundations, which has been produced in conjunction with KPMG. Tax reform: Laying the foundations outlines key tax reform measures needed in building on work completed in Dr Ken Henrys Australias Future Tax System review, and identifies the focal points for further economic analysis and community debate. Mr El-Ansary will be discussing the future of necessary reform measures at next weeks tax forum. Ends Judith Tydd Senior Communications Consultant The Institute of Chartered Accountants in Australia 0423 791 647 / 02 9290 5562 Judith.tydd@charteredaccountants.com.au
Notes to editors The Institute of Chartered Accountants in Australia The Institute of Chartered Accountants in Australia (the Institute) is the professional body representing Chartered Accountants in Australia. Our reach extends to around 70,000 of todays and tomorrows business leaders, representing approximately 57,000 Chartered Accountants and 13,000 of Australias best accounting graduates currently enrolled in our world-class Chartered Accountants postgraduate program. Our members work in diverse roles across commerce and industry, academia, government and public practice throughout Australia and in 108 countries around the world. We aim to lead the profession by delivering visionary leadership projects, setting the benchmark for the highest ethical, professional and educational standards, and enhancing and promoting the Chartered Accountants brand. We also represent the interests of members to government, industry, academia and the general public by engaging our membership and local and international bodies on public policy, government legislation and regulatory issues. The Institute can leverage advantages for its members as a founding member of the Global Accounting Alliance (GAA), an international accounting coalition formed by the worlds premier accounting bodies. With a membership of over 800,000, the GAA promotes quality professional services, shares information, and collaborates on international accounting issues. Established in 1928, the Institute is constituted by Royal Charter. For further information about the Institute, visit charteredaccountants.com.au