The Institute has called on the Federal Government to address business, indirect and personal tax reform issues, superannuation and financial reporting standards. 
 
The Institute has recommended that the government: 

• Continues to address issues that are important to small business 
  
• Reinstates the ability of companies with income of more than $100 million to rely on the same business test (SBT) to recoup prior year losses and claim bad debt deductions  
  
• Makes legislative changes to enhance the Australian property funds industry  
  
• Pursues a Fringe Benefits Tax (FBT) reform agenda where consideration is given to taxing of fringe benefits in the hands of the employees rather than the employer 
  
• Introduces a CGT taper relief for business assets held for the medium to long term 
  
• Reforms the GST arrangements in relations to cross-border services, financial services and property transactions 
  
• Commences consultation on a more general reform of the Institute’s personal tax regime including; addressing effective marginal tax rate inequities and optional tax returns (for taxpayers whose income is subject to withholding at its source) 
  
• Reviews the current Superannuation guarantee legislation 
  
• Considers allowing superannuation funds to borrow up to a total of 50 per cent of assets, reflecting the use of gearing as an important tool in maximising investment returns 
  
• Allows the superannuation guarantee to be applied to HECS debts for an undergraduate degree in the first three years of employment, or until the debt is paid off. Such reform would enable HECS debts to be repaid sooner, making available later after tax income for use in investment or increased savings.