Date posted: 29/04/2019 3 min read

Policy Advocacy News April 2019

CA ANZ’s updated policy priorities and recent advocacy ahead of the Australian Federal Election on 18 May.

In Brief

  • CA ANZ has released updated 2019 policy priorities and a 2018 advocacy snapshot
  • Our recent Federal Election advocacy has focused on Labor’s proposed tax and super policies

Policy priorities

Chartered Accountants Australia and New Zealand (CA ANZ) advocates in the interests of our members and the profession and in the public interest.

Our major policy areas are tax, financial advice, superannuation, reporting and assurance, business reform, small business and professional standards.

This year our policy priorities include:

  • Australian Banking Royal Commission
  • Future of taxation in New Zealand (Tax Working Group recommendations)
  • Australian Federal Budget and Election
  • Financial Adviser Standards and Ethics Authority (FASEA) reforms in Australia
  • Key developments in other areas such as audit, tax, superannuation and business reform (AU and NZ) and
  • State Government advocacy on policy issues relevant to members in their local regions (AU).

We have prepared a downloadable summary of our 2019 policy priorities and policy positions for advocacy as well as a snapshot of our 2018 advocacy activities and achievements.

Australian Federal Election

CA ANZ is continuing to advocate with the Government and the Opposition in the lead up to the Australian Federal Election on 18 May 2019. Our advocacy is currently focused on the tax and superannuation policy issues at the heart of the political debate.

Our policy team has recently spoken with advisers to the Shadow Treasurer and Shadow Assistant Treasurer to discuss questions and concerns raised by our members and their clients about Labor's proposed negative gearing policy, which is scheduled to commence from 1 January 2020 should Labor win government.

We have also set out questions and issues for consideration on Labor's other proposed tax and superannuation policies, including the following which are intended to take effect from 1 July 2019:

  • the $3,000 cap on managing your tax affairs
  • limiting the refundability of franking tax offsets, and
  • the imposition of a 30% tax on discretionary trust distributions.

Should Labor win office, CA ANZ will continue working to ensure that our member's views are considered in the design, drafting and implementation of the new legislation.

We have summarised how the tax and superannuation policies of the major parties may impact your clients and your business, our recent expert commentary and media.