Tax Cuts, CPA call for tax cuts in Super

Accountants call for Budget tax cuts January 28, 2005 - 2:59PM

Tax cuts have be called for by CPA Australia. They have called on the federal government to include personal cuts and superannuation reforms in this year's Budget. In its annual pre-Budget submission, CPA said the top personal marginal tax rates should be reduced and brought into line with company tax rates.

CPA also wants superannuation taxes to be reviewed, with the surcharge removed and the 15 per cent up-front contributions tax abolished.

"The current tax system still has disincentives," CPA chief executive Greg Larsen said.

"We want to see a system that encourages Australians to work, save and invest.

"Reform in personal taxation and superannuation is a matter of national interest and necessity."

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The CPA's submission also called for the government to set up a program to monitor the impact of new regulations on small businesses and address the shortage of young academics in Australian universities.

Treasurer Peter Costello is due to hand down the government's Budget on May 10.

Tax Cuts