INTHEBLACK April/May 2024 - Magazine - Page 45
P O D C AS T
WITH INTEREST PODCAST
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The With Interest podcast features economic updates and developments
for the business world. Here are some highlights from a recent episode.
to the podcast
PRIORITY ISSUES FROM THE
PRE-BUDGET SUBMISSION
Each year, CPA Australia makes a range of recommendations
to the Australian Government ahead of the Federal Budget.
Business investment and international lead Gavan Ord highlights
some of the key issues among the 39 outlined in this year’s
pre-budget submission.
TAX SYSTEM UNSUSTAINABLE
“We rely too much on personal income
taxes and corporate tax. As the population
ages, the number of people actually paying
income tax reduces, and, at the same time,
the number of people taking money from
the system through welfare and healthcare
costs increases.
“There is a long-term issue about the
sustainability of our tax system, and we
really need to start addressing that not
only to try to improve productivity in the
economy, but also to try to make the tax
base sustainable for the future. We’re really
concerned about the long-term viability
of our tax system.”
SKILLS SHORTAGES MEASURES
“Government is pursuing two key strategies.
The one that is getting the most publicity
is skilled migration, and the other one is
offering things like fee-free TAFE places
in areas of shortage.
“There are two strategies – the shorter
term is to bring people in, and the longer
term is to increase the supply of skilled
people into the workforce.
“I think both strategies are correct,
but on the education side the government
GAVAN ORD,
CPA AUSTRALIA
could do more to encourage people to
undertake university studies in areas
of shortage like accounting. That could be,
for example, reducing the cost of courses
to study accounting.”
PROFESSIONAL ADVICE FOR NFPS
“We need to help charities and not-for-profits
build their capability to deliver their services.
Part of that is through encouraging them to
seek professional advice.
“That professional advice could be
used to maybe improve how they run
their organisation. It could be used to help
them access new sources of funds, new
donors, apply for grants, and it could be
used to restructure or structure how they
attract volunteers.
“The other thing they need to look at is
the IT or the digital skills of not-for-profits.
There could be efficiencies in delivery
of services if those not-for-profits
and charities become more digitally savvy.
“These are very small enterprises, and
the more that government could help build
those IT digital skills, the more likely these
smaller not-for-profits and charities can
at least be successful or deliver what
the community needs.”
LISTEN
to the full
podcast episode
READ
the pre-budget
submission
intheblack.cpaaustralia.com.au 45
