Chartered Accountants ANZ Hails New Assistant Treasurer
Chartered Accountants ANZ (CA ANZ) CEO, Ainslie van Onselen, congratulates Dr Daniel Mulino MP on his appointment as Assistant Treasurer and Financial Services Minister.
“Dr Mulino’s appointment is an opportunity for a fresh perspective on reforms that impact the profession, their clients and the wider community,” said Ms van Onselen.
“Rather than making piecemeal changes, we call on the Albanese Government to undertake long-term tax reform in its second term.
“We stand ready to work closely with Dr Mulino through what we hope will be a period of renewal and reform.”
Ms van Onselen acknowledged Dr Mulino’s wealth of experience as an economist and also having previously worked in policy areas relevant to the role.
“We look forward to consulting with Dr Mulino to ensure that the government’s plans to widen the range of sanctions available to the Tax Practitioners Board will be fit-for-purpose and right sized.
“We will also encourage the government to go back to the drawing board on its planned tax on unrealised gains in superannuation balances over $3 million.
“This policy has significant issues that need to be addressed, as it is likely to incur higher administrative costs than the revenue it will generate.”
CA ANZ is also urging Dr Mulino to work with the Treasurer to delay the implementation of Payday Super for up to two years, to ensure that administrative and legislative systems can support employers to implement this change.
After working closely with Stephen Jones on the first stages of the Delivering Better Financial Outcomes package, CA ANZ hopes his successor will implement this policy in full.
“Chartered Accountants in public practice can be part of the solution to the financial advice shortage in Australia – but they need to be supported by the appropriate regulatory reforms,” Ms van Onselen said.