Fed: Accountants want no more tax reform to catch up

AAP General News (Australia)
08-22-2001
Fed: Accountants want no more tax reform to catch up

The Institute of Chartered Accountants in Australia says there should be no more tax
reform until taxpayers and their advisers absorb the massive changes already introduced.

The institute says taxpayers and advisers are still struggling with the paperwork burden
brought on by the new measures.

ICAA chief executive STEPHEN HARRISON says tax reform was meant to make things simpler,
but it hasn't.

He says tax accountants still cannot meet the extended BAS and IAS deadlines more than
one year into the new system and are now being deluged by personal income tax returns.

Mr HARRISON says it might look like a bonanza, but two-thirds of small practice members
expect their profits to fall.

He says the reason is because they cannot pass on all the increased administrative costs.

AAP RTV jph/daw/wz/jn

KEYWORD: TAX ICAA (CANBERRA)

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