Chartered Accountants ANZ (CA ANZ) has called for a focus on collaboration and leadership during the Economic Reform Roundtable held at Parliament House, emphasising the need to capitalise on opportunities that could enhance Australia’s economic landscape.

CA ANZ CEO Ainslie van Onselen pointed out the potential for a unified approach to long-term tax reform.

Onselen said: “We’ve long held the view that Australia’s tax architecture is overdue for renovation. CA ANZ has advocated for a system that encourages rather than hinders investment in Australia, rewards innovation and supports sustainable growth.

“This week’s discussion is an opportunity to work together to deliver impactful reform. We need a tax system that powers productivity, not one that penalises progress – be it individuals or business, and we strongly encourage those sitting around the table in Canberra to put the nation first.”

The organisation has suggested various measures aimed at reducing bureaucratic hurdles, including the simplification of fringe benefits tax, the reduction of industry levies, and the harmonisation of state taxes such as land tax and payroll tax. “We’re ready to support the government on a way forward,” she added.

In addition to tax reform, CA ANZ is advocating for the implementation of mandatory digital reporting, which they believe could lead to substantial productivity improvements.

“The Productivity Commission recommended mandatory digital reporting for disclosing entities just this month so progressing this key reform at the Roundtable this week is the logical step forward,” van Onselen explained.

She further noted, “This reform will unlock productivity, improve accessibility to our capital markets, and bring Australia in line with global best practice.”

On the subject of road funding, CA ANZ has proposed a road user charge to create a more equitable and sustainable funding mechanism for Australia’s road infrastructure.

“As vehicles become more fuel-efficient and electric vehicles grow in popularity, relying on fuel taxes to cover road maintenance costs is no longer viable,” van Onselen remarked.

“A modern road user charging system ensures that everyone who uses the roads contributes to their upkeep, regardless of what powers their vehicle.”

The organisation has also recommended the elimination of fees associated with accessing information from the Australian Securities and Investments Commission (ASIC) registers.

“Many businesses have to obtain information from ASIC registers to fulfil their statutory obligations and this disproportionately impacts small businesses,” van Onselen stated.