In a move to improve governance, administration and taxation policy development, corporate Australia has called for a board of directors for the Australian Taxation Office.
An opinion poll conducted at the Company Director Conference 2002 revealed that 78% of directors supported this finding.
The survey also revealed that 80% of directors believed Australians' long-term retirement savings needs were not being addressed by the current superannuation system and 87% said the minor measures outlined in the Budget would not help solve this problem.
This finding supports the Australian Institute of Company Directors' (AICD) statement that a complete review of Australia's superannuation regime was urgently needed.
"Australia remains the only country in the world to tax retirement savings at three levels and the current level of compulsory superannuation savings is insufficient to fund a comfortable retirement," AICD chief executive officer, John Hall, says.
Other key findings:
- 79% of respondents considered the Budget to be economically responsible, but with minimal impact on corporate profitability
- 76% believed Telstra should be fully privatised
- 73% said the increase in the cost of prescription medicines was economically sound
- 61% of women and 38% of men said that paid maternity leave should be a standard condition of employment and 13 weeks was the favoured term for this paid leave. The survey also found that big business was supportive and appeared willing to fund paid maternity leave while small business required government support to finance the leave.
This qualitative data was collected from 306 respondents attending the AICD "Catch the Future" Company Directors Conference 2002.