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Showing posts from March, 2017

Tax changes in the Budget - here's what we predict

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by Bob Deutsch CTA *


With a little over 5 weeks until the Budget, it’s worth considering what tax changes will be included. 

I have assigned a number (between 0 and 10) to each item of possible change – with 10 being ‘very likely’ and 0 being ‘very unlikely’:

Changes to individual tax rates. The main possibility is a continuation of the temporary budget repair levy of 2% for high income earners. The Coalition has indicated it is reluctant to continue with this measure.
Likelihood … 3A reduction in individual marginal tax rates. This is something I personally believe is important, but it doesn’t appear likely as an issue the Coalition will embrace at this stage in the political cycle.
Likelihood … 2A lift in the Medicare levy. This has been mooted in the press and an increase from 2% to perhaps 3% would seem to be politically palatable for the Coalition and likely to pass both houses of Parliament. It will also help to fund Australia's burgeoning health care costs.
Likelihood … 7

The best of both worlds

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by Matthew Pawson CTA *


The impact of technology on the way we do things has been no more evident over the past decade than in the delivery of education services in the professional sector. The Tax Institute is not immune from this trend. In fact, our Institute has responded to member demand by actively improving our online delivery platforms for its structured education, continuing professional development (CPD) and information products.

Members vary in their preferred method of engaging with education programs and CPD events. For example, many of our senior members favour the historically popular method of face-to-face delivery. Our Gen Y and Millennial members, however, increasingly demand the now-entrenched online (primarily webinar) delivery model.

Personally, I straddle these two demographic pillars. I appreciate the time and cost efficiencies offered by digital delivery and can see their appeal to consumers and employers. In fact, I regularly engage with webinars and other onli…

The evolution of The Tax Institute

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by Noel Rowland *


In February, I attended the 2017 “CEO & Chair Symposium” hosted by the Associations Forum in Brisbane.

I spoke about The Tax Institute’s journey, since my appointment almost two decades ago, to develop the structured education program, introduce the Chartered Tax Adviser (CTA) designation, and re-brand.

When I first joined the Institute, it was active and effective in tax policy and advocacy and continuing professional development (CPD).

The journal, Taxation in Australia, was also highly regarded. However, in other areas — such as education, information product delivery and professional recognition for members — the organisation had some work to do to keep up with the times.

There was also a growing appetite for change among members, who understood that the Institute needed to renew and move forward.

My colleagues and I therefore saw an opportunity for the Institute to transform and eventually take a leadership role, over the long term, in the areas that needed …

Are you ready for the 1 July super contribution changes?

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A must-attend presentation at The Tax Institute’s Western Australia Superannuation Intensive this year will be Liz Westover’s workshop on ‘Contributing to superannuation’.

Liz is a Director in the Private Clients division of PwC. She is responsible for growing PwC’s presence in the SMSF market and provides technical support to the firm and its clients in superannuation and related tax matters.

She predicts that workshop participants will walk away with a comprehensive understanding of the opportunities and pitfalls of contributing to super.

“2017 may well be the last opportunity for many to make non-concessional contributions,” Liz says.

Announcing our successful Scholarship applicants

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The Tax Institute is proud to announce that we had an overwhelming response to the recent national education scholarship opportunity. With over 900 individuals expressing an interest in the program, it demonstrates the increasing demand for high quality, and applied, tax training delivered by recognised practitioners.

Our education programs commenced over 10 years ago, and deliver the Institute’s vision of anticipating the needs of future tax professionals. In 2017, we have not only been humbled by the level of interest in our Programs and Single Subjects, but are excited to be sharing this special announcement with you all.