Celebrating 70 years of supporting the tax profession: 1960s
Last month, we related the founding of The Tax Institute in a special anniversary edition of Taxation in Australia. This month, we look at the Institute’s history during the booming 1950s and 1960s, as it begins to take the shape of the organisation we know today.
As the 1960s began, the Liberal Party remained in government and made few changes to the tax system. Decimal currency was introduced in 1966 and the economy continued to boom, with the mining sector growing from the lifting of restrictions on iron ore exports.
Institute membership also continued to grow, reaching 2,000 members part way through the decade, and the first state conventions were held around the country.
The 1960s also marked the birth of Taxation in Australia, with the journal replacing traditional circulars and memorandums in September 1963. By the end of the decade, the journal was at 32 pages and featured news, reports of changes in tax legislation, and articles by some of the best and brightest in the profession — sound familiar?
In 2013, The Tax Institute is celebrating 70 years of supporting the tax profession.
The Tax Institute is Australia’s leading professional association in tax. Its 13,000 members include tax agents, accountants and lawyers as well as tax practitioners in corporations, government and academia.