Chalmers Wins Tail Wind On Tax Reform From Roundtable

(MENAFN- The Conversation) Government has obtained from its economic reform roundtable broad support to work on three major areas of tax reform.

Treasurer Jim Chalmers told a news conference after the three-day meeting there had been several hours of debate about the future of Australia's tax system.

“Where we landed was that there was a lot of support for trying to put a structure around the work that we will now do as a government in a consultative way, collaborative way to really try and address three objectives in the tax system.”

The three priority areas are:

• achieving“a fair go for working people” including in terms of intergenerational inequity

• finding“an affordable, responsible way” to encourage business investment

• and making the tax system“simpler, more sustainable” to fund services, particularly with an ageing population.

But Chalmers ruled out a comprehensive, independent tax inquiry.“Instead, the government will develop its own options and consult with the group going forward on any changes”, he said.

“We undertook to them that we would consider tax reforms in those three areas.”

Chalmers, who is anxious to push reform as far as possible, said the tax system was“imperfect”.

“One of the most troubling imperfections is best seen through an intergenerational lens.

"Almost everybody around the table had a similar view, which is, we take our responsibilities to the coming generations seriously.”

He said this had implications for the tax system“and if there was one kind of defining element of the contributions that people made around the table, it was intergenerational”.

Those stressing these issues included former Treasury secretary Ken Henry, ACTU secretary Sally McManus, Professor Bob Breunig, a tax expert from the ANU and crossbencher Allegra Spender, among many others.

“We recognise that we as people of influence with this opportunity have responsibilities in lots of ways, but especially intergenerational responsibilities and we take them very seriously.”

The meeting gave strong support to a road user charge scheme and to removing, streaming or accelerating a host of regulations and approvals, especially in the areas of housing and environmental approvals.

The treasurer sorted these into different categories, including“reform directions” for the government moving forward and“quick wins” for cabinet ministers to take on“with some urgency”.

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