The Federal Government has released a discussion paper to stimulate thinking and debate in advance of the Tax Forum to be held on 4 and 5 October 2011. Click here to view the discussion paper.
There will be a broad range of taxes and related topics separately discussed at the Forum, including personal tax, transfer payments, business tax, state taxes, environmental and social taxes, and tax system governance. Attendees at the Forum will be drawn from governments, federal, state and local, industry associations, unions, community groups, academia and tax practitioners.
The Government has underscored that its tax reform agenda will span over a decade, not least because of the economic headwinds.
The Forum is intended to assist Government identify priorities for future tax reforms, that build on these objectives nominated by the Treasurer:
In the prevailing tight fiscal conditions, should the Forum identify reforms with broad community support, it will assist the Government in balancing the competing priorities. The Government has been frank in stating that any proposed reductions in taxes would have to be accompanied by suggested funding measures.
Deloitte will continue to keep clients closely engaged in the tax reform agenda through this dedicated web page.