On 13 August 2012, the Business Tax Working Group released a Discussion Paper that sought views from stakeholders about some specific base broadening options to offset the cost to revenue of a cut to the company income tax rate. The purpose of the Discussion Paper was to stimulate discussion, debate and feedback to the Working Group. It was not a position paper and the options canvassed were not recommendations.
Consultation meetings
Following the release of the Discussion Paper, members of the Working Group met with representatives of more than 20 stakeholders - including a mix of individual companies, industry groups and professional bodies. Consultation meetings were held in Brisbane, Sydney, Melbourne and Perth.
Written submissions
The Working Group received 83 written submissions in response to the Discussion Paper, including 62 public submissions and 21 confidential submissions. Public submissions were received from the following organisations and individuals:
- Accommodation Association of Australia
- Australian Academy of Science
- Australian Bankers Association
- Australian Chamber of Commerce and Industry
- Association of Australian Medical Research Institutes
- Australian Council of Trade Unions
- Australian Industry Group
- Australian Information Industry Association
- Alandal Consulting
- Association of Mining and Exploration Companies
- American Chamber of Commerce in Australia
- Australian Petroleum Production and Exploration Association
- Arrium Limited
- AusBiotech
- Australian Shipowners Association
- Australian Trucking Association
- Australian Private Equity and Venture Capital Association
- Business Council of Australia
- BMT Tax Depreciation
- BP Australia
- Business SA
- Chamber of Commerce and Industry WA
- Chamber of Minerals and Energy WA
- Chevron
- CPA Australia
- CSL Limited
- Corporate Tax Association
- Crossing, Edward
- Group of Eight
- Hogg, Craig
- Housing Industry Association
- Immersaview Pty Ltd
- Infrastructure Partnerships Australia
- Institute of Chartered Accountants Australia
- Institute of Public Accountants
- Invensys Operations Management
- IT Industry Innovation Council
- Janssen
- Knowledge Commercialisation Australasia
- KPMG
- Lateral Economics
- Law Council of Australia
- Master Builders Australia
- Medicines Australia
- Menezes, Flavio
- Michael Johnson Associates
- Minerals Council of Australia
- National Tourism Alliance
- NSW Farmers
- Pitcher Partners
- Property Council of Australia
- Research Australia
- Roche Products Pty Ltd
- Sedgman Limited
- The Australasian Institute of Mining and Metallurgy
- The Tax Institute
- Truck Industry Council
- United Voice
- Uniting Church in Australia
- Universities Australia
- Washington Brown Depreciation Pty Ltd
- WWF Australia
Public submissions are available on the Treasury website.
The Working Group encouraged stakeholders to provide evidence based responses to the discussion paper. The Working Group appreciates the effort that many stakeholders made in providing information and analysis for the Working Group's consideration.