Time for leaders to put major tax reform on the table

Thursday 10 December, 2015 | By: Default Admin | Tags: tax reform, GST, payroll tax, COAG

Queensland small businesses deserve a State Government which is focussed on modernising the taxation system.

The first step for that to happen is when the nation’s Premiers and Treasurers meet in Sydney this week (December 10-11).

The Palaszczuk Government has a fantastic opportunity at COAG to sit down with State and Territory leaders and take a front seat in driving taxation reform for the benefit of all Queenslanders.

Queensland small businesses consistently identify the compliance costs of State Government taxes as one of the biggest constraints on growth.

Recently, the business community expressed disappointment as the Palaszczuk Government has been ruling taxes out rather than building a modern tax system that allows businesses to innovate, grow and create jobs.

CCIQ believes a priority for tax reform should be eliminating inefficient state taxes. Increasingly relying on revenue from Queensland businesses has eroded our competitive position in recent years, both domestically and internationally.

For example, the payroll tax continues to act as a break on economic growth and opportunities for this state. This is because a payroll tax is essentially a charge on employing more Queenslanders. This needs to change.  

CCIQ calls for a serious discussion about the huge challenges Queensland businesses experience from an outdated and complex national and state taxation system.

The priority for small business is for the reform process to consider the taxation system broadly, with a focus on addressing the complexity, reducing the reliance on income taxes in favour of consumption taxes like the GST and allowing the removal of inefficient state taxes.

Queensland’s continued prosperity will rely in part to the barriers to growth such as the ‘outdated’ taxation system being reformed.

This will ensure an even playing field allowing small businesses to successfully compete again businesses in other parts of the world with modern taxation systems.

CCIQ is committed to representing small business and ensuring that the taxation settings are right to provide businesses the confidence to grow, invest and create jobs.

 

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