Australia’s top online and store retailers have supported the opportunity to participate in a comprehensive and broad discussion to modernise Australia’s tax system.
The release of the federal Government’s tax discussion paper follows an election commitment to have a pragmatic and honest conversation about Australia’s tax system.
Australian National Retailers Association CEO Anna McPhee said this is an important step in creating a system that is efficient, equitable and transparent without creating distortions or adding to the compliance burden.
“This is a significant opportunity to modernise the tax system that will boost productivity, encourage workforce participation and drive economic growth into the future,” she said. “We are encouraged by the Government’s holistic approach, with a particular focus on engaging with the states in reforming inefficient taxes that are a drag on growth and the economy.
“It is a timely discussion to address tax integrity issues to support the modern economy. The rise of the digital economy means current legislation does not create a level playing field for all businesses, particularly Australian retailers and service providers.”
The news comes as ANRA last week made a submission to the Fair Work Commission 2015 Annual Wage Review of a 1.4 per cent wage increase, considering current economic conditions, retail prices on cost of living and unemployment forecasts. The increase equates to a $9 a week rise to the national minimum wage.
Ms McPhee said any increase in the minimum wage should reflect upon retail price growth.
“Retail price growth continues to remain below inflation and the sector hopes the Fair Work Commission makes a determination that will not impact jobs growth,” she said.