Simpler tax system causes doubts for tax assistants
The simplification of Australia’s ‘inordinately complex’ personal tax system has caused concern for the future of Australia’s 40,000 tax assistants.
In a move that Assistant Treasurer Bill Shorten described as “removing the hassle of a shoebox full of receipts”, the reform would see work related tax deductions streamlined with a standard claim to start at $500 in the 2013 tax year and move to $1000 the year after.
Currently up to 40,000 people a year are employed, mostly on a part-time basis, to assist with tax deductions during the July to October period. Large tax consultancy firms have voiced concerns over the pressures on social welfare that would result from such a large scale redundancy.