CA ANZ submits recommendations to Productivity Commission

Core Viewpoint - Chartered Accountants Australia and New Zealand (CA ANZ) has submitted recommendations to the Productivity Commission aimed at modernizing Australia's tax system and enhancing economic collaboration [1][3] Tax System Recommendations - CA ANZ advocates for a more efficient tax mix and a lower corporate tax rate, suggesting a reduction to 20% for all companies, while acknowledging the budgetary challenges this poses [1][3] - The organization supports the transition towards an efficient tax structure but warns that moving to a Cash Flow Tax could be complex and costly, emphasizing the need to modernize the existing framework instead [2] Environmental Policy Support - CA ANZ endorses the expansion of the Safeguard Mechanism to include more industrial facilities and improve carbon leakage provisions, recommending a phased approach for the inclusion of new facilities [4] AI Regulation Stance - The organization believes that AI-specific regulation should be a last resort, advocating for a flexible regulatory environment that can adapt to the rapid evolution of AI technologies [4] Professional Advisory Sector - CA ANZ supports the removal of unnecessary occupational entry regulations in the financial advisory sector and advocates for qualified accountants to provide strategic financial advice to address the shortage of professional financial advisers in Australia [5] Education Initiatives - The organization has expressed support for reintroducing accounting as a standalone subject in the NCEA Level 1 curriculum starting in 2028 [5]