Already a subscriber?Matt Comyn’s closest advisers had little idea he planned to go “off script” and put his head above the parapet to advocate for detailed tax changes.Politicians responsible for regulating banks might not appreciate the free advice and tabloid media could latch on to a banker calling for income tax cuts, a higher GST and limiting tax deductions, among other changes.AFR
After six years as chief executive and a leader in corporate Australia which has become increasingly frustrated about the inability of Canberra to implement productivity-boosting tax changes, Comyn wanted to gently encourage the government to be bolder. Instead, he suggested abolishing state payroll tax and stamp duties on property purchases and insurance. “They make us less competitive,” Comyn said.
Comyn, who has been on speed dial with treasurers since the COVID-19 pandemic, said publicly and privately that Chalmers is doing an “excellent” job.
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