By the time you read this, we will have heard at least some of the outcomes from the snap ‘reform summit' the Prime Minister hosted yesterday in Canberra, from which we hope there is a clear indication of where the tax reform debate may next head.
For the latest, we have Roger Brake from the Treasury delivering the ‘inside perspective' on the Tax White Paper at our VIC 3rd Annual Tax Forum on 8 and 9 October. The Forum will be rounded out by a panel featuring the new Assistant Treasurer and Minister for Small Business, the Hon Kelly O'Dwyer MP, together with the Shadow Assistant Treasurer, the Hon Dr Andrew Leigh MP. We encourage members interested in the tax reform debate and a broad range of CPD options to come along – just register here.
This coming Monday, the OECD will release the ‘BEPS package' to reform the international tax system to tackle tax avoidance. What is key here is how Australia responds to the package of recommendations, that is, which recommendations we will adopt into our own international tax system. The Tax Institute has consistently urged the Government to wait for these outcomes and then consider which of the recommendations to bring into our system. The release of the recommendations next week will mean Australia can now move on any international tax reforms that have stagnated pending the release of the OECD's BEPS package.
Stephanie Caredes CTA is a Tax Counsel of The Tax Institute.