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Accounting bodies have welcomed the appointment of Dr Daniel Mulino as Assistant Treasurer and Financial Services Minister for what they hope will be a period of “renewal and reform”
New minister offers opportunity for 'fresh perspective' on reform, says CA ANZ
13 May 2025
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8 minute read
CA ANZ, CPA Australia and other professional associations have congratulated Dr Daniel Mulino on his appointment as Assistant Treasurer and Financial Services Minister and Dr Anne Aly on her appointment as Minister for Small Business.
CA ANZ chief executive Ainslie van Onselen acknowledged Mulino's wealth of experience as an economist and also having previously worked in policy areas relevant to the role.
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Van Onselen said the appointment of the minister was an "opportunity for fresh perspective on reforms that impact the profession, clients and the wider community".
“Rather than making piecemeal changes, we call on the Albanese Government to undertake longterm tax reform in its second term," Van Onselen said.
“We stand ready to work closely with Dr Mulino through what we hope will be a period of renewal and reform.”
The accounting body has already urged Mulino to work with the Treasurer to delay the implementation of Payday Super for up to two years, to ensure that the administrative and legislative systems can support employers to implement this change.
It is also encouraging the Labor government to go back to the drawing board with its planned tax on unrealised gains for superannuation balances above $3 million.
“We [also] look forward to consulting with Dr Mulino to ensure that the government’s plans to widen the range of sanctions available to the Tax Practitioners Board will be fit-for-purpose and right sized," van Onselen said.
CPA Australia chief executive Chris Freeland AM likewise welcomed the cabinet announcements by Prime Minister Anthony Albanese.
Freeland said the appointments and re-appointments in the Treasury portfolio provided continuity for the accounting and business sectors and the opportunity for the government to make swift progress on strengthening the economy.
“CPA Australia believes the second Albanese Government and Dr Chalmers have a once-in-a-generation opportunity to reform and rebuild the economy,” he said.
“Dr Chalmers’ stated focus on improving productivity in this new term is vital to boosting Australia’s prosperity. Consultation with business and experts is critical, and we look forward to working with the Treasurer and his colleagues on measures that will revitalise business, deliver tax reform, reduce regulatory burden and repair the Budget.”
Freeland said he hoped the second term of the Albanese government would include open and thorough consultation and the development of meaningful fit-for-purpose solutions.
“Advisers and accounting professionals are critical to the implementation of the government’s reforms including Payday Super, not-for-profit reporting, AML/CTF obligations and standard-setting for financial and accounting standards," he said.
“The accounting profession is well equipped to provide its expertise to discussions on a wide range of critical topics including tax reform and tax administration, deregulation, retirement savings and financial advice, incentives for business, especially SMEs, and sustainability reporting.”
The SMSF Association said it was also looking forward to forming a constructive relationship with the new minister and working with him in a positive vein to address issues that are important to our vibrant self-managed super fund community.
Burgess said the association sees the adoption of sound tax policies that underpin the sustainability of the superannuation system, and implementing measures that will improve access to affordable, quality financial advice, as key policy priorities for our members.
“We are confident that the government appreciates the importance of the SMSF sector to the economy as investors and, in many cases, as self-reliant retirees, and we look forward to working with Minister Mulino to ensure the ongoing viability of the SMSF sector," he said.
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