The Virtual Summit

24–25 November 2020

Two compelling half-days that consist of keynote sessions, panel discussions and breakout streams. The Virtual Summit will be the culmination of the event and discussion series to date and will present the options, discuss their merits and define the priorities for reform.

Key / Legend

Retirement & Wealth

Business Taxation

Personal Tax and Transfer

Indirect Taxation

Day 1 Program

Tuesday, 24 November 2020 | AEDT

10:00–10:50am

S1: The Case for Reform

In setting the scene for this two-day event, this session will mount the case for reform and consider how tax reform can create the environment for long term economic success for Australia. While recognising an immediate and longer term need to stimulate the recovering economy, the discussion will call out the shortcomings of the current system and set the stage for the conversations ahead.

Speakers

Prof Robert Breunig
Tax and Transfer Policy Institute

Andrew Mills, CTA (Life)
The Tax Institute

Michelle de Niese
Corporate Tax Association

Grant Wardell-Johnson, CTA
KPMG

11:00–11:45am

S2.1: Meeting the needs of global and transnational businesses

This session will identify the obstacles and opportunities to encourage both an outward-looking Australian corporate sector and an attractive environment for foreign capital. It will consider how current settings should be recalibrated to be consistent with leading international trends for corporate taxation and moving beyond the traditional parameters of corporate taxation.

 

Speakers

Prof Richard Holden
UNSW

Steve Southon, ATI
NAB

Tim Neilson, CTA (Life)
White & Case

Amelia Teng
Deloitte

11:00–11:45am

S2.2: Rethinking SME taxation

Drawing on the pathways discussed in the focus session, this session will consider how the taxation of SMEs could be redesigned to:

  • Liberate the flow of capital
  • Reduce compliance costs
  • Reduce complexity while maintaining integrity in the system.

 

Speakers

Paul Banister, CTA
Grant Thornton
Robyn Jacobson, CTA
The Tax Institute
Tracey Dunn
RSM Australia
Vanessa Priest, FTI
Baskin Clarke Priest

12:00–12:45pm

S3.1: Designing optimal workforces for the future economy

The multitude of distinct taxing regimes confront all those who deal with the labour market. In an increasingly globalised economy, how can businesses optimise their workforces having regard to:

  • The employee versus contractor conundrum
  • FBT
  • Payroll tax
  • PAYG withholding
  • Superannuation guarantee regime
  • Employee share schemes.

Speakers

Celeste Black
University of Sydney
Mark Pizzacalla, CTA
BDO
Clint Harding, CTA
Arnold Bloch Leibler

12:00–12:45pm

S3.2: Targeting concessions for small and family businesses

The pathway for small businesses to access tax concessions is overgrown and sorely needs a redesign. This session will consider the possible options to:

  • Simplify the law and reduce unnecessary complexity
  • Reduce compliance costs associated with determining eligibility
  • Streamline the thresholds for consistency
  • Support small businesses and maintain integrity in the system without unnecessary barriers.

Speakers

Robyn Jacobson, CTA
The Tax Institute
Andrew O’Bryan, CTA
Hall & Wilcox
Ron Jorgensen, CTA
Thomson Geer

1:00–1:45pm

S4.1: Designing incentives to advance innovation

The tax system plays an important role in advancing innovation in Australia. This session will consider how well-designed tax incentives can encourage businesses to grow and expand, improve their productivity, and support valuable R&D as well as new technology and industries.

 

Speakers

Yasser El-Ansary
Australian Investment Council
Kimberley Simpson, CTA
Cochlear Limited
Pete Rhodes, ATI
Aristocrat
Scott Treatt, CTA
The Tax Institute

1:00–1:45pm

S4.2: Designing a sustainable superannuation system

This session will look at the fundamental design of the superannuation system, and consider the best reform options to our tax system to:

  • Support a sustainable superannuation and retirement system
  • Encourage improved compliance by employers with the mandatory superannuation guarantee regime
  • Reduce unnecessary complexity and ensure greater consistency in the various superannuation caps and thresholds.

 

Speakers

Graeme Colley
SuperConcepts
Jemma Sanderson, CTA
Cooper Partners
Julie Dolan
KPMG
Liz Westover, FTI
Deloitte

1:45–2:00pm

S5: Day 1 summary

In this wrap-up session to close out Day 1, Scott & Robyn will reflect on the discussions and ideas raised during the day’s sessions. They will then set the stage ahead of a second day of bright ideas and robust debate on how to best reform our tax system.

 

Speakers

Robyn Jacobson, CTA
The Tax Institute

Scott Treatt, CTA
The Tax Institute

Day 2 Program

Wednesday, 25 November 2020 | AEDT

10:00–10:50am

S6: Regulators and policy advisers panel

In this not to be missed panel session with representatives of regulators and key policy advisers, the panel will discuss the opportunities that regulators have and will pursue to make administration world leading. Starting with the improvements to date, the regulators will discuss how they can leverage the data they are accumulating to make interaction with the system painless, quick, and cheap.

 

Speakers

Teresa Dyson
Former Chair of Board of Taxation
Andrew Mills, CTA (Life)
The Tax Institute
Jeremy Hirschhorn, CTA
Second Commissioner, Australian Taxation Office
Paul Tilley
Former Treasury official

11:00–11:45am

S7.1: Taxing private wealth

Some controversial pathways relating to the fundamental design of the superannuation system, the taxation of private wealth and transfer of wealth following death were considered in the focus session. This session will look at how well-designed tax law can provide:

  • A sustainable superannuation and retirement system
  • Increased equity regarding the tax treatment of private wealth assets
  • Appropriate tax outcomes following the death of a taxpayer.

 

Speakers

Leanne Connor, CTA
WGC Business Advisors
Chris Wallis, CTA
Victorian Bar
Paul Sokolowski, CTA
Arnold Bloch Leibler

11:00–11:45am

S7.2: The interplay of state and federal indirect taxes

In a wide-ranging discussion, this session will consider:

  • How the interaction of Federal and State taxes can be improved
  • The case for land tax versus stamp duty as the primary State property tax
  • Whether any inefficient indirect taxes can be removed by broadening the base of other more efficient taxes.

 

Speakers

Anne Collins
Glencore
Geoff Mann, CTA
Ashurst
Nathan Deveson, CTA
MinterEllison
Chris Sievers
Victorian Bar

12:00–12:45pm

S8.1: Streamlining the tax system for individuals

This session will draw on the ideas expressed in the focus session and further consider:

  • How reforms options can improve the interaction of the personal taxation system and the transfer system and remove anomalous outcomes
  • How the rules relating to work-related expenses, residency and personal exertion income can best be simplified
  • Whether the marginal tax rate settings are appropriately progressive.

 

Speakers

Debra Anderson, ATI
Anderson Tax
Neil Earle, CTA (Life)
DFK Benjamin King Money
Prof Robert Breunig
Tax and Transfer Policy Institute

12:00–12:45pm

S8.2: The 2040 vision for GST

The GST is 20 years old and there has been no real change in that time. This session will challenge whether the current settings sustainable for the next 20 years? Overtly omitted from the Henry review in 2009, changes to the GST should be considered as part of a serious tax reform discussion. This session will consider whether it is appropriate to:

  • Increase the rate
  • Broaden the base to ensure an increasing segment of the economy which currently escapes the GST, namely GST-free supplies, should be subject to GST
  • Make any other reforms to the GST.

 

Speakers

Ken Fehily, CTA
Fehily Advisory
Kevin O’Rourke
O’Rourke Consulting
Marg Marshall, CTA
WLF Accounting & Advisory
Alison Marshall, CTA
PwC

1:00–1:50pm

S9: Running the Gauntlet… How to effect change?

This session will draw on the expertise from different jurisdictions and times that the panellists have experienced to outline how reform can be achieved and implemented. What are the key ingredients to making change occur and stick?

 

Speakers

Dr Julianne Jaques, CTA
Victorian Bar
Viva Hammer
Brandeis University
Hon. Dominic Perrottet MP
NSW Treasurer
Rt Hon Sir Bill English
former Prime Minister of New Zealand
Hon. Andrew Leigh MP
Shadow Assistant Minister for Treasury and Charities

1:50–2:15pm

S10: Day 2 summary and Virtual Summit reflections

In this concluding plenary session for the entire event series, Andrew Mills and his fellow commentators will make some final observations about the pathways and options for reform that have emerged from the virtual event. In wrapping up, they will set out the next steps as to how the wide range of enthusiastic ideas and reform options will be packaged up as a ‘Case for Change’, to be presented to the Federal and State governments.

 

Speakers

Andrew Mills, CTA (Life)
The Tax Institute
Peter Godber, CTA
President, The Tax Institute
Grant Wardell-Johnson, CTA
KPMG

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