IAG's release of the Australia's Future Tax System Review's Consultation Paper

Introduction

Insurance Australia Group (IAG) welcomes the release of the Australia's Future Tax System Review's Consultation Paper.

IAG agrees with the Consultation Paper that:

• Through a lack of coordination in policy and administration, the federation's tax-transfer system has become disjointed and complex, imposing unnecessary costs on all Australians.

• Reforms which enhance the accountabilities, integration and efficiency of the federation's tax-transfer system can improve the functioning of the federation by reducing costs, removing complexity and improving resource allocation