The Tax Institute hits out on tax reform

In a statement released yesterday, Tax institute president Arthur Athanasiou expressed frustration around the current government’s approach to tax reform, saying Australians will now need to wait for a future government to see any meaningful change.

“The Tax Institute is disappointed at the diminished prospect of any real structural tax reform in the immediate future,” he said.

“Instead, minor tinkering to our outdated tax system is likely to occur rather than dealing with the new challenges that confront our tax system that were highlighted in last year’s Re:Think Tax Discussion Paper as the reason for needing reform.

“Ensuring our tax system is fair, simple, efficient and sustainable should be at the top of the government's priority list. By effectively putting the tax white paper process on ice, we now await a future government to achieve modernisation of our tax system and meaningful tax reform," Mr Athanasiou concluded.