CPA Australia has supported the recent announcement by Treasurer Jim Chalmers that the Board of Taxation will be tasked with identifying strategies to lessen compliance burdens within the country’s business tax system. 

The move is part of a strategy to enhance “productivity and stimulate economic growth”. 

The institute has highlighted three key compliance issues that warrant attention for the government’s productivity reforms.  

These include the simplification of Business Activity Statement (BAS) reporting, the establishment of a more straightforward Fringe Benefits Tax (FBT) regime for small businesses, and the amendment of unworkable technical GST provisions that have been problematic for taxpayers and tax professionals alike. 

CPA Australia tax lead Jenny Wong is calling on the Board of Taxation to prioritise reforms that will yield immediate benefits for small businesses.  

BAS reporting simplification and simplified trading stock rules expansion are steps that would reduce compliance costs and allow business owners to concentrate on their operations, she said. 

Wong also pointed out the need for reform in the FBT regime, which currently places a disproportionate compliance burden on small businesses.  

She suggests that the government should seek inspiration from New Zealand’s approach to FBT and conduct a review to simplify and better target the tax.  

Moreover, Wong emphasised the importance of rectifying longstanding technical issues in GST legislation, which have been a source of frustration for many years. 

CPA Australia also acknowledged the appointment of Andrew Mills as the Board of Taxation acting chair, starting 1 October 2025, for a three-month term.  

Additionally, Wong commented on the Productivity Commission’s upcoming five-year GST distribution review, noting that while important, it should not detract from the need for comprehensive tax reform. 

Wong said: “Reform of the GST is central to resolving the structural weaknesses in Australia’s tax system. Most tax specialists believe that increasing the GST is the key to broadening the overall tax base and reducing the reliance on personal income tax, which would put more money in people’s pockets and ultimately generate more revenue to help drive economic growth. 

“It’s crucial that the inevitable wrangling between the states about how the GST is carved up does not distract from these broader objectives.” 

Recently, CPA Australia signed a memorandum of understanding with CFA Institute to provide increased career opportunities for members of both organisations.