17 September 2004

Ageing Impacts Study
Productivity Commission
P.O. Box 80
Belconnen   ACT   2616

By email:  ageing@pc.gov.au

Dear Sir/Madam

Subject:	Economic Implications of an Ageing Australia
As Australia’s largest professional body, with over 100,000 members, CPA Australia welcomes the opportunity to contribute to the Productivity Commission’s inquiry into Economic Implications of an Ageing Australia.

As leaders in finance, accounting and business advice, our interest in this review is as a consequence of our ongoing commitment to ensuring that, amongst other things, both current and future government economic and social policy contributes to creating and maintaining an environment that maximises economic efficiency, and makes Australia a better place to live, work, save and invest.

It is becoming more widely understood that the ageing population is not a phenomenon unique to Australia - internationally people are living longer, their overall fertility rates have reduced and the baby boomers are now moving into the retirement phase of life.  However, it is encouraging to see that the government and others are turning their minds to what presents as a very significant challenge to the social and economic fabric of the country.

The short period of time has limited our ability to provide much input at this time.  However in the interim and as part of this letter we would like to highlight the following ageing population issues we intend to discuss in our subsequent submission:

•	The Integenerational Report and the challenges of effective modelling
•	Federal and state government tax policy
•	Tax and welfare interaction issues
•	Retirement and savings issues
•	Budgetary and related public sector reporting issues
•	Business issues including succession planning, the labour market, rural/ regional challenges and an enterprise culture
•	Education and labour force skilling
•	Other matters arising from the Productivity Commission’s Interim Report

We understand the Productivity Commission’s interim report will be available some time in November 2004.

We hope this information may be of some use in the Productivity Commission review.  If you have any questions regarding the above, please do not hesitate to contact me on 03 9606 9701 or via email – paul.drum@cpaaustralia.com.au.

In the interests of the members of CPA Australia and the community generally, this letter will be made available via our website at www.cpaaustralia.com.au.

Yours sincerely

PAUL DRUM FCPA
Senior Policy Adviser
CPA Australia

T:	+61 3 9606 9701
F:	+61 3 9642 0228
E:	paul.drum@cpaaustralia.com.au