Industry Groups Respond to Productivity Report

Business Council of Australia

The Productivity Commission proposal to tax business cash flow is an experimental change that hasn't been tried anywhere else in the world.

This tax increase risks putting more pressure on all Australians still struggling under cost-of-living pressures.

While some businesses may benefit under this proposal, it risks all Australian consumers and businesses paying more for the things they buy every day-groceries, fuel and other daily essentials.

This approach punishes some of our most productive companies and industries, which touch our lives every day and employ millions of Australians.

This proposal is based on the premise that tax reform must be revenue neutral-a tax reform discussion must be a holistic one.

The Productivity Roundtable should be focused on practical ideas to lower the cost-of-living-cutting red tape, better regulation-rather than introducing more uncertainty for the country.

While the Commission's focus on cutting red tape is positive, increasing taxes will not increase investment or fix lagging productivity.

This joint statement is on behalf of:

Australian Institute of Company Directors

Australasian Convenience and Petroleum Marketers Association

Australian Airports Association

Australian Banking Association

Australian Chamber of Commerce and Industry

Australian Energy Producers

Australian Industry Group

Australian Investment Council

Australian Retail Council

Australian Telecommunications Alliance

Australian Travel Industry Association

Business Council of Australia

Chartered Accountants Australia and New Zealand

CPA Australia

Corporate Tax Association

Council of Small Business Organisations Australia

Group of Eight

Insurance Council of Australia

Master Builders Australia

Minerals Council of Australia

National Farmers' Federation

Property Council of Australia

Tech Council of Australia

Tourism and Transport Forum

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