Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
What Simplicity?



Download PDFDownload PDF

MEDIA RELEASE

3 December 1998

r v i r v

N a t i o n a l i n s t i t u t e OF ACCOUNTANTS \i Λ mi: ;:;uii.}:i

I I E~Jor<-:· j

What Simplicity?

The National Institute of_Accountants (NIA) is disappointed at the complexity of the GST legislation released yesterday, said Patrick Derham, President of the NIA.

The newly released legislation to give effect to Australia's goods and services tax system will be far too complex in its implementation and does not live up to expectations of the reform of the current tax system. This tax reform has failed to deliver simplicity despite this being promised from the beginning. The complexity of the GST legislation introduced yesterday is equal if not greater in complexity than the existing taxation system. Australia needs a tax system that

is simple and easy to interpret.

The NIA is concerned about the complexity because it will only increase the compliance costs to small business. Unlike the New Zealand GST system which had minimal impact upon its implementation, there is major concern that the proposed legislation will lead to increased costs for business in particular those in small business.

The NIA believes that tax reform must produce a fair tax system that improves international competitiveness and produces an environment favourable to job creation, investment and saving.

The tax regime should be simple, stable and transparent. It must not favour or disadvantage any particular business structure over another or any industry or companies over others. This is a big ask for any government but one which will have the backing of the business community.

Patrick Derham is available for further comment on 0412 713 829.

Enquiries Jocelyn Robinson, Marketing/PR Manager Ph: (03) 9249 5590 Fax: (03) 9249 5551 E-mail: jocelynr@nia.org.au

N a t i o n a l Of fic e