About the Business Tax Working Group
The Business Tax Working Group (BTWG) is one of the initiatives arising out of the Tax Forum held in October 2011.
The Treasurer announced the terms of reference and membership of the BWTG on 12 October 2012.
Terms of reference
Under its terms of reference, the BTWG is required to make recommendations on how the Australian business tax system can be improved to make the most of the challenges and opportunities arising from transformations in the broader economic environment, including the patchwork economy.
The revenue neutral reforms to the business tax system will aim to increase productivity, while delivering tax relief to struggling businesses.
The BTWG is required to focus on reform options that relieve the taxation of new investment:
- in the near term, by reforming the tax treatment of business losses; and
- in the longer term, by reducing the corporate tax rate further or moving to a business expenditure tax system, particularly an allowance for corporate equity.
Under its terms of reference the BTWG is required to produce three reports to the Treasurer:
Membership
The BTWG consists of nine members, including a Chair, with members drawn from a broad range of backgrounds, including business groups, the tax advisory profession, academia, the union movement and the public service.
Current BTWG members