Business leaders attack Productivity Commission inquiry as too narrow on tax
Business leaders say a Productivity Commission inquiry was crippled when Treasurer Jim Chalmers excluded tax and workplace relations from scope.
The Productivity Commission released interim findings Friday on how to boost business dynamism, but business leaders say the review missed the real problems. Jim Chalmers ruled out tax, industrial relations, and merger laws.
The commission focused on regulations, insolvency laws, and venture capital barriers instead. Andrew McKellar, chief executive of business group ACCI, said excluding tax and workplace relations was like a doctor ignoring the heart and lungs.
Business Council chief Bran Black called them the elephant in the room. The government is pushing a 30 per cent minimum tax on discretionary trusts this month, which business groups oppose.
- 30 per cent on discretionary trusts
- Minimum tax rate
- Treasurer who set inquiry scope
- Jim Chalmers
- Chief executive of ACCI
- Andrew McKellar
- Chief executive of Business Council
- Bran Black
Why it mattersThe rift between business and government over tax policy shapes investment decisions and job creation.
AustraliaAustralian businesses are preparing to lobby against new taxes on trusts and capital gains. The debate will affect how much small businesses and family firms pay in tax and how they invest.
