Budget deadline for Henry Review
|
|
Treasurer Wayne Swan has announced the Government’s report into the Henry Review will be released before the Federal Budget in May.
Speaking on the ABC Insiders program, Swan said careful consideration is being given to the taxation review. He added that the Government plans to keep its promise to deliver the report in the first half of the year.
“In terms of Henry, we’re going through that in a very careful and in a very considered way. There will be plenty of time for debate and it will be released by budget time,” he said.
Swan added that the review into the taxation system was a lengthy one that needs careful examination. “This is a decade-long reform program. But what we’re getting from this independent committee headed by Dr Henry is not some budget-ready set of proposals that we can pull out of the report and suddenly insert into a budget this year or necessarily next year. This is a very considered, long-term document that puts a lot of complex issues on the table,” Swan said.
Swan refused to be drawn about the exact date of the report’s release, despite being probed by host Barrie Cassidy about whether it was the government’s intention to release it simultaneously with the budget.
“Our whole objective is not to hide it. Our whole objective is to have a mature discussion about it: to involve the whole community; to involve the business community; to involve the unions; to involve community groups; to involve all of those stakeholders that look very closely at tax,” he said.
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
