ACOSS has welcomed the Treasurer opening the door to a national agenda on tax reform.
"We warmly welcome the invitation from the Treasurer to have an inclusive, frank and ambitious discussion about pressing tax reform," said Dr Cassandra Goldie AO, ACOSS CEO.
"We need a fairer and more effective tax system that both secures the revenue we need to fund essential services and supports as well as encouraging more productive investment to create jobs and lift living standards.
"This can be done with reforms that lift overall revenue without increasing tax rates on low and modest incomes, while also strengthening productivity.
"Our sector stands ready to work with the government and key stakeholders on this opportunity."
ACOSS encourages the tax reform agenda to include:
- Curbing personal tax shelters that waste public revenue, increase wealth inequality and undermine productivity.
- Strengthening taxes on economic rents – such as the use of land and mineral resources – while encouraging productive investment that supports vital economic transitions, including the shift to a clean energy economy.
- Ensuring superannuation serves its core purpose: providing a decent retirement for all, rather than enabling tax avoidance, large accumulations of wealth, or windfall inheritances.
