Speak up for tax reform

Australian businesses have been invited to express their views on the current tax system and the impact it has on their operations.

Accounting practice BDO is calling for submissions on GST, corporate tax rate, capital gains tax, superannuation and the FBT system by 31 October 2014.

The responses from its fourth annual BDO Tax Reform Survey will be released in early 2015 and will inform BDO’s contributions to the federal government’s tax reform white paper as well as pre-Budget submissions for 2015-16.

BDO said many small business owners, entrepreneurs and large corporations all continue to grapple with the current taxation system and remain uncertain about when and if genuine reform will occur. 

The survey will aim to gauge whether opinion has changed from the previous consensus that showed 95 per cent of respondents believed the government has been tinkering around the edges of tax reform for too long.

Last year’s survey also showed GST remains a contentious issue with 95 per cent of respondents wanting the tax included in any reform discussion; 67 per cent suggesting all GST exemptions should be abolished; and 59 per cent wanting the GST rate increased to fund the abolition of state payroll taxes and stamp duties.

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