Speaking at the Tax Institute’s national convention in Cairns, president Tracey Rens said its national council and executive team had undertaken a ‘major strategic review’, resulting in a new vision and new strategic objectives.
Its vision revolves around “three strategic pillars”: knowledge, support for members and advocacy.
The strategic objectives include implementing effective governance systems, maximising tax community reach, and focusing on knowledge and advocacy initiatives.
“Together, our vision and our strategic objectives reflect the Tax Institute’s determination to play a central role in shaping the future of the tax profession and in the future development of the Australian taxation system,” Ms Rens said.
The Tax Institute’s chief executive, Vince Lendrum, said on a practical level, members will see an increase in products and services, including services to serve a wider range of stakeholders “for whom tax is central to their professional success”. Mr Lendrum replaced long-serving chief executive Noel Rowland, who resigned suddenly in September last year.
“This is already evident in the launch of the Women in Tax National Congress and the Women in Tax website, designed to support the career progression of female practitioners,” said Mr Lendrum.
“[Also], we have launched a new national mentoring program to support younger practitioners and will be launching new tax tools for SME practitioners.”
Mr Lendrum also said the Tax Institute will be looking to make better use of its tax-technical knowledge repository.
“We will continue to identify the current and future needs of the profession, then design, create and curate appropriate, high-quality content from purely tax-technical information to advice on soft business skills, which we will deliver to current and future members in ways that suit their varying needs,” he said.
Lastly, the Tax Institute will be focusing on advocacy as it identifies areas for reform for the future of the tax system.
“By engaging with the membership, assimilating ideas and concerns, formulating well-considered opinions and insights, and having the appropriate links and relationships with relevant government and private sector stakeholders, the Institute – and, by extension, its members – will have the satisfaction of positively influencing the direction and implementation of the tax system as a whole,” said Mr Lendrum.
Jotham Lian is the editor of Accountants Daily, the leading source of breaking news, analysis and insight for Australian accounting professionals.
Before joining the team in 2017, Jotham wrote for a range of national mastheads including the Sydney Morning Herald, and Channel NewsAsia.