CPA Australia CEO Geoff Rankin FCPA reports on activities carried out on behalf of members.
CPA Australia remains committed to working with governments and their agencies to ensure current and future economic and social policies foster productive capacity and secure sustainable growth. Concurrently with a change in government at the federal level we have prioritised an agenda of issues for 2008 and are actively engaged with ministers, their staff and departmental officials to address the most pressing priorities facing our nation, our profession and our members.
Pre-Budget submission
CPA Australia has lodged its pre-Budget submission with Treasury on behalf of members regarding our priorities for the 2008 / 09 Federal Budget. The submission, developed with input from our Centres of Excellence, business committees and the broader membership, covered a wide range of issues. Of particular note were recommendations relating to climate change and water security, solving the skills shortage, federal / state relations and other key issues with direct budgetary implications, such as superannuation changes and reforms to personal and business taxation as well as potential changes to the role of the inspector general of taxation.
Taking a lead on climate change
The membership of CPA Australia has the experience and expertise to play a significant role in assisting regulated entities to meet their requirements under the National Greenhouse and Energy Act, including measurement, verification and disclosure of data. In a submission responding to the National greenhouse and energy reporting system regulations discussion paper I have sought participation in further consultations, particularly in the areas of external audits and auditors, energy data and public disclosure of data. I have also written to the Climate change group, Department of Prime Minister and Cabinet on abatement incentives prior to the commencement of the Australian Emissions Trading Scheme (AETS) encouraging the government to consider other policy options, including tax and fiscal incentives and seeking clear guidance for the business community on how the AETS will work.
International partnership program
CPA Australia has successfully concluded its first International partnership program designed to build the business expertise of 27 representatives from eight Asia Pacific countries. Participants undertook 16 weeks of intense study of the CPA Program in Australia, including four exams. This month we will issue a report on the program and discuss the outcomes with relevant ministers and public officials in Australia and the participating countries.
State activities
The South Australian Joint legislative review committee has developed a submission on state taxation reform and communicated to the government, opposition and minor parties that reform should proceed in accord with the three principles of harmonisation and rationalisation, support for the achievement of state goals, and simplicity.
As a member of the Joint Accounting Professional Panel, CPA Australia was represented at the Independent Pricing and Regulatory Tribunal's public hearing into the New South Wales tax system. Payroll tax, land tax and federal / state relationships were key themes discussed. The division has also sent letters to the state's treasurer in relation to land tax and duty relief for unit trusts and to the Attorney General's Department regarding the appointment of liquidators to Incorporated Limited Partnerships.
Reference: February 2008, volume 78:01, p. 15
