In its pre-budget submission to federal government, the Institute put business tax reform high on the agenda. As an initial step, the Institute has requested that certain tax measures already put in train by the previous government be dealt with as a matter of priority. In addition, the submission makes a number of key recommendations focusing on reviewing the corporate tax base and developing a more favourable tax treatment in areas including company loss and bad debt rules, international tax, taxation of rights, the property fund industry and specific small business issues. 
 
In relation to the GST, the Institute has also urged the government to give immediate attention to GST treatment of cross border services and financial services, the application of GST to property transactions and supply of going concern concession. 
 
Other tax matters raised include:

• The introduction of statutory privilege to protect the confidentiality of the communications between suitably qualified and regulated non-legal tax advisors and their clients
• A process within government that allows the regular and rapid introduction and passing of technical corrections to the taxation legislation
• Increase in funding for Treasury and legislative drafting.
• Maintaining the role of the Inspector General of Taxation.

• The Institute:Lobbying
• The Institute:Pre-budget submission