Leaders Panel: Australian Taxation reform

10/10/2018 06:30 pm 10/10/2018 08:30 pm Australia/Melbourne Leaders Panel: Australian Taxation reform

Australian taxation reform: What will it mean to the economy?

A responsive and relevant taxation system is critical to our country’s well-being and future. Taxation sets the ‘rules of the game’ for employees, entrepreneurs, companies and even governments. Even as we speak, policymakers and politicians are attempting to reform Australia’s tax system. But reaching a consensus on these reforms has always proven difficult. As we now confront new digital business models, weak wage growth and a credit squeeze, delaying a reform process will not be an option for much longer.

Will we undertake reforms at the margin or will we adopt a more fundamental (and bipartisan) approach that confronts the unavoidable challenge of an ageing population with fewer taxpayers? Australia’s tax revenue problem needs solutions that are holistic and socially sustainable. Monash Business School’s Leaders Panel series invites prominent industry and academic speakers to tackle our most compelling public issues and inspire new ideas, approaches and perspectives.

In our latest panel, we’ve asked an authoritative panel of industry and academic experts to debate what should be the future direction of Australian taxation reform.

Chaired by Tony J Johnson, Monash Business School Business Advisory Board.

Panel members

  • Michael Andrew AO, Chair of the Board of Taxation
  • Alf Capito, senior tax partner and Leader of EY’s Tax Policy Group in Oceania
  • Dr Diane Kraal, Department of Business Law and Taxation, Monash Business School

Register today

Speaker profiles

Michael Andrew AO
Mr Andrew was Chairman and CEO, KPMG International from May 2011 to July 2014. He is the first Australian CEO of one of the “big four” accounting firms and the first to be based in the Asia-Pacific region. A partner in KPMG since 1988, Michael practiced in Tax Law and was Partner in Charge of KPMG Tax Practice 1995-2000 and was Partner in Charge of KPMG International Tax Centre in Amsterdam from 1992-1994. Michael was Chairman of KPMG Asia-Pacific and Chairman, KPMG Australia from 2007 until 2011.Mr Andrew was the Chair of the Australian B20 Working Group on Anti-Corruption and Transparency and its Global CEO Forum.

Mr Andrew is a former member of the Business Council of Australia and the International Business Council of the World Economic Forum.

Mr Andrew has a degree in Law and Commerce from Melbourne University. He is a qualified Barrister and Solicitor of the Supreme Court of Victoria and Fellow of the Institute of Chartered Accountants. He was recently awarded an Honorary Doctor of Laws by Monash University and an Honorary Doctor of Commerce by Melbourne University.

Mr Andrew was appointed Chairman to the Board of Taxation in January 2015 and his term renewed for a further two years commencing 1 January 2018.

Mr Andrew was appointed Chairman to the Black Economy Taskforce in December 2016 with the Taskforce to provide a final report to Government in October 2017.

Alf Capito
Alf Capito is the leader of EY’s Tax Policy Group in Oceania. Alf has more than 30 years’ experience and has been closely involved in the reform of Australia's international tax regime, and a regular presenter and commentator on tax issues. Alf co-authored the White Paper prepared by the Business Council of Australia (BCA) which was used as a basis for the Australian Government’s Review of International Tax Arrangements (RITA).  He was a member of the Treasury Steering Committee overseeing the design of the RITA measures.

Alf also served as a member of the Australian Financial Centre Task Force, which authored the “Johnson” Report used to reform the tax landscape for Australia’s financial services sector. He has been an adviser to the Board of Taxation and continues to be involved in tax policy and tax design reforms impacting corporate Australia as well as the region. Alf holds a Bachelor of Commerce and Bachelor of Laws from University of Melbourne and a Master of Laws from Monash University. He a member of the Institute of Chartered Accountants and Tax Institute of Australia.

Tony Johnson
Tony Johnson is the Chief Executive Officer of EY in Oceania, a member of EY's Asia Pacific Operating Executive and Global Practice Group.  Over the past 25 years Tony has combined leadership roles within the firm with successfully leading client account teams to deliver strategic, operational, transaction, governance, assurance, risk, due diligence and regulatory reviews and services.  His career has been primarily focussed on the financial services sector locally and internationally.  Prior to his current role Tony was the Regional Managing Partner for EY's financial services business in Asia Pacific with responsibility for 5,000 professionals in eight countries.  Tony has a Bachelor of Economics, Master of Business Administration (Executive), Graduate Diploma of Applied Finance & Investment and is a Fellow of the Chartered Accountants Australia and New Zealand, Fellow of Finsia and a Member of Australian Institute of Company Directors (AICD).

Diane Kraal
Diane has held roles in the minerals resource sector as a management and financial accountant. She is an experienced CPA professional having worked with the ‘Big 4’. For eight years she was Manager (Taxation and Banking) at La Trobe University. Diane has worked in the financial services sector as the taxation manager with Australia's largest administrator of industry superannuation funds. Diane has presented tax research papers at conferences both in Australia and overseas, including at the University of Cambridge, University of Houston and Groningen University. Diane was a Visiting Fellow at the Australian National University followed by a visit to the International Monetary Fund (IMF) in Washington DC to pursue extractive industry tax issues.

The National Research Institute of Papua New Guinea (PNG) and the PNG Treasury appointed Dr Diane Kraal and Dr Craig Emerson (former Minister with the Australian government) to research petroleum and mining tax reform. Tax reform in PNG has the support of the IMF. PNG's National Budget 2017 broadly includes Kraal and Emerson’s petroleum and mining tax reform initiatives. In 2017-2018 Diane is conducting further research for the National Research Institute of PNG.

In July 2017 Diane was called as an expert witness to the Federal Senate inquiry into corporate tax avoidance in relation to Australia's offshore oil and gas industry. In 2018 Diane received the Monash Business School Dean’s Commendation for Research Impact. Diane’s latest research concerns tax and policy around biofuels.

What is a Leaders Panel?

Our Leaders Panels showcase Monash Business School’s thought leadership as a source of inspiration for new thinking, as the seed for creating communities of knowledge, and as a point of reference for national debates. The Leaders Panels bring together prominent members of our Business Advisory Board, as well as guest speakers to focus on issues of national importance which merit public discussion and debate.

A typical Leaders Panel will include a discussion between three to four contributors to stimulate and shape debate, followed by a Q&A. Registration and networking will begin at 5.30pm with light refreshments upon arrival. After the Leaders Panel join us also for networking with alumni, industry representatives and friends.

Event Details

Date:
10 October 2018 at 6:30 pm – 8:30 pm
Venue:
Monash University, level 7, 271 Collins Street, Melbourne
Categories:
Business Law and Taxation

Description

Australian taxation reform: What will it mean to the economy?

A responsive and relevant taxation system is critical to our country’s well-being and future. Taxation sets the ‘rules of the game’ for employees, entrepreneurs, companies and even governments. Even as we speak, policymakers and politicians are attempting to reform Australia’s tax system. But reaching a consensus on these reforms has always proven difficult. As we now confront new digital business models, weak wage growth and a credit squeeze, delaying a reform process will not be an option for much longer.

Will we undertake reforms at the margin or will we adopt a more fundamental (and bipartisan) approach that confronts the unavoidable challenge of an ageing population with fewer taxpayers? Australia’s tax revenue problem needs solutions that are holistic and socially sustainable. Monash Business School’s Leaders Panel series invites prominent industry and academic speakers to tackle our most compelling public issues and inspire new ideas, approaches and perspectives.

In our latest panel, we’ve asked an authoritative panel of industry and academic experts to debate what should be the future direction of Australian taxation reform.

Chaired by Tony J Johnson, Monash Business School Business Advisory Board.

Panel members

  • Michael Andrew AO, Chair of the Board of Taxation
  • Alf Capito, senior tax partner and Leader of EY’s Tax Policy Group in Oceania
  • Dr Diane Kraal, Department of Business Law and Taxation, Monash Business School

Register today

Speaker profiles

Michael Andrew AO
Mr Andrew was Chairman and CEO, KPMG International from May 2011 to July 2014. He is the first Australian CEO of one of the “big four” accounting firms and the first to be based in the Asia-Pacific region. A partner in KPMG since 1988, Michael practiced in Tax Law and was Partner in Charge of KPMG Tax Practice 1995-2000 and was Partner in Charge of KPMG International Tax Centre in Amsterdam from 1992-1994. Michael was Chairman of KPMG Asia-Pacific and Chairman, KPMG Australia from 2007 until 2011.Mr Andrew was the Chair of the Australian B20 Working Group on Anti-Corruption and Transparency and its Global CEO Forum.

Mr Andrew is a former member of the Business Council of Australia and the International Business Council of the World Economic Forum.

Mr Andrew has a degree in Law and Commerce from Melbourne University. He is a qualified Barrister and Solicitor of the Supreme Court of Victoria and Fellow of the Institute of Chartered Accountants. He was recently awarded an Honorary Doctor of Laws by Monash University and an Honorary Doctor of Commerce by Melbourne University.

Mr Andrew was appointed Chairman to the Board of Taxation in January 2015 and his term renewed for a further two years commencing 1 January 2018.

Mr Andrew was appointed Chairman to the Black Economy Taskforce in December 2016 with the Taskforce to provide a final report to Government in October 2017.

Alf Capito
Alf Capito is the leader of EY’s Tax Policy Group in Oceania. Alf has more than 30 years’ experience and has been closely involved in the reform of Australia's international tax regime, and a regular presenter and commentator on tax issues. Alf co-authored the White Paper prepared by the Business Council of Australia (BCA) which was used as a basis for the Australian Government’s Review of International Tax Arrangements (RITA).  He was a member of the Treasury Steering Committee overseeing the design of the RITA measures.

Alf also served as a member of the Australian Financial Centre Task Force, which authored the “Johnson” Report used to reform the tax landscape for Australia’s financial services sector. He has been an adviser to the Board of Taxation and continues to be involved in tax policy and tax design reforms impacting corporate Australia as well as the region. Alf holds a Bachelor of Commerce and Bachelor of Laws from University of Melbourne and a Master of Laws from Monash University. He a member of the Institute of Chartered Accountants and Tax Institute of Australia.

Tony Johnson
Tony Johnson is the Chief Executive Officer of EY in Oceania, a member of EY's Asia Pacific Operating Executive and Global Practice Group.  Over the past 25 years Tony has combined leadership roles within the firm with successfully leading client account teams to deliver strategic, operational, transaction, governance, assurance, risk, due diligence and regulatory reviews and services.  His career has been primarily focussed on the financial services sector locally and internationally.  Prior to his current role Tony was the Regional Managing Partner for EY's financial services business in Asia Pacific with responsibility for 5,000 professionals in eight countries.  Tony has a Bachelor of Economics, Master of Business Administration (Executive), Graduate Diploma of Applied Finance & Investment and is a Fellow of the Chartered Accountants Australia and New Zealand, Fellow of Finsia and a Member of Australian Institute of Company Directors (AICD).

Diane Kraal
Diane has held roles in the minerals resource sector as a management and financial accountant. She is an experienced CPA professional having worked with the ‘Big 4’. For eight years she was Manager (Taxation and Banking) at La Trobe University. Diane has worked in the financial services sector as the taxation manager with Australia's largest administrator of industry superannuation funds. Diane has presented tax research papers at conferences both in Australia and overseas, including at the University of Cambridge, University of Houston and Groningen University. Diane was a Visiting Fellow at the Australian National University followed by a visit to the International Monetary Fund (IMF) in Washington DC to pursue extractive industry tax issues.

The National Research Institute of Papua New Guinea (PNG) and the PNG Treasury appointed Dr Diane Kraal and Dr Craig Emerson (former Minister with the Australian government) to research petroleum and mining tax reform. Tax reform in PNG has the support of the IMF. PNG's National Budget 2017 broadly includes Kraal and Emerson’s petroleum and mining tax reform initiatives. In 2017-2018 Diane is conducting further research for the National Research Institute of PNG.

In July 2017 Diane was called as an expert witness to the Federal Senate inquiry into corporate tax avoidance in relation to Australia's offshore oil and gas industry. In 2018 Diane received the Monash Business School Dean’s Commendation for Research Impact. Diane’s latest research concerns tax and policy around biofuels.

What is a Leaders Panel?

Our Leaders Panels showcase Monash Business School’s thought leadership as a source of inspiration for new thinking, as the seed for creating communities of knowledge, and as a point of reference for national debates. The Leaders Panels bring together prominent members of our Business Advisory Board, as well as guest speakers to focus on issues of national importance which merit public discussion and debate.

A typical Leaders Panel will include a discussion between three to four contributors to stimulate and shape debate, followed by a Q&A. Registration and networking will begin at 5.30pm with light refreshments upon arrival. After the Leaders Panel join us also for networking with alumni, industry representatives and friends.


E-Mail
buseco-events@monash.edu