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Tax reform: With 2020 vision

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Published on 01 Aug 20 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

It is universally agreed that tax reform in Australia is necessary but obtaining agreement from all stakeholders on the design of an improved system, and implementing those improvements, seems an impossible task. Previous tax reform made some inroads, but our tax system has been creaking under its own weight for far too long. The COVID-19 pandemic may provide the impetus for reform. The Henry review remains a blueprint for the reform of Australia’s tax system and many of the recommendations contained in the report are worthy of consideration, even 10 years on. Against this backdrop, this article considers issues with the taxation of fringe benefits, the corporate tax rate, the top marginal tax rate and the CGT discount, the taxation of trusts, small business tax concessions, Div 7A, individual tax residency, the personal services income rules, the superannuation guarantee regime, and the state of consultation on legislative amendments.

Author profile

Robyn Jacobson CTA
Robyn Jacobson, CTA, is the Senior Advocate at The Tax Institute. She is an avid advocate, social media commentator, columnist, blogger, webcaster, presenter and the host of The Tax Institute’s TaxVibe podcast. She is also frequently quoted in the media. In her role as Senior Advocate, Robyn champions improvements to our tax system, with a focus on SMEs and supporting practitioners. Robyn regularly consults with the Treasury, ATO and professional bodies on technical issues, including as Co-Chair of the ATO’s Tax Practitioner Stewardship Group and a member of various other working groups Robyn has more than three decades in the profession, including a public practice background and more than 20 years guiding the profession in her various roles as a professional tax trainer. Robyn is a Chartered Tax Adviser of The Tax Institute, and a Fellow of both CA ANZ and CPA Australia. - Current at 10 April 2025
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