Commission of Audit – if you don't need it, you're not getting it | McSweeney CA | Consulting Accountants
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Commission of Audit – if you don’t need it, you’re not getting it

“Business as usual is not a viable option for Australia” … the Commission of Audit’s much anticipated report has just been released.

The message is clear, if you don’t absolutely need something from Government, you’re not going to get it in future.

In the lead up to the 13 May Budget, the recommendations are significant and fundamentally rework access to the age pension, health care, family benefits, and the efficiency of the Government and the services it delivers.

Of course, not all (if any) of these recommendations will be introduced, however it will be an interesting political battle to see how this level of reform rolls out.

As anticipated, the report heavily focuses on the services provided by the public purse, who is accessing them, and why.  Co-payments are a key theme.

Key recommendations from Phase 1 include:

Family

Superannuation

Pensions

Health care

Working parents

Employment & Unemployment

Business incentives & assistance

Privatisation

Privatise government bodies that operate in commercial markets across the short, medium and long term including:

Overall, the report recommends abolishing 7 Government bodies, merging 35, consolidating another 22 into the portfolio department, privatising 9, and reviewing another 26.

It will be interesting to see what the Government adopts in the Federal Budget on 13 May 2014.

Sources

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