NFF supports call for rational debate on tax reform

The National Farmers’ Federation (NFF) has welcomed the government’s release of its Taxation Discussion Paper.
Simon Talbot, CEO of the NFF, said that the paper would encourage debate and an examination of ideas, which would assist the development of sector-specific policies to take to the next federal election.
“The tax system needs to be simplified. There are 130,000 farm businesses – and most of them are small to medium-sized enterprises,” Mr Talbot said.
“They don’t have time to waste on excessively complex taxation.
“Australian farmers need a tax system that is fair, efficient, and in the national interest,” Mr Talbot said.
“It must encourage investment, innovation and job creation to deliver economic growth.
“In the NFF’s 2015-16 Budget Submission, we stated our support for a substantial shift in policy settings – so that the level of economic growth can increase and a return to surplus can be achieved.
“Together with our member bodies, we will be carefully reviewing the Taxation Discussion Paper; looking at issues such as the depreciation of assets and the role of taxation in encouraging innovation through research and development incentives.
“We look forward to outlining the agriculture sector’s views on tax policies ahead of the next election.
“There are important policy considerations coming from the government that are of interest to the farm sector. Taxation is one. The release of the government’s White Paper on Agricultural Competitiveness is another, as is the review of competition policy.”