Post by Chartered Accountants Australia and New Zealand

CA ANZ appeared before the Senate Economics Legislation Committee today to provide feedback on the Government’s proposed tax reforms, including changes to negative gearing and capital gains tax.   Representing CA ANZ were Susan Franks CA, Australian Leader - Tax, Superannuation and Financial Advice; Geraldine Magarey FCA, Group Executive Policy and International; and Damian Ogden, Group Executive Advocacy, Public and Government Affairs.   The priority of any major tax reform is that it is clear, coherent and genuinely workable in a self-assessment system. In our appearance, we focused on three key themes: 🔷 Clarity in the law: core policy settings should be in legislation, not left to explanatory materials. 🔷 Complexity and compliance costs: new CGT categories, valuation rules and record‑keeping obligations will add real burden for taxpayers and advisers. 🔷 Practical improvements: including changes to loss ordering, access to indexation, and extending indexation to companies. To read our full opening statement, click here: https://caanz.com/els26 #CAANZ #DifferenceMakers