Latest Intergenerational Report points to stubborn productivity issues that AI cannot fix
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Accounting bodies have called on the government to address the nation’s waning productivity growth, income tax reliance and ageing population for the purpose of future generations.
Accounting bodies have called on the government to address the nation’s waning productivity growth, income tax reliance and ageing population for the purpose of future generations.
The Treasury’s 2026 Intergenerational Report (IGR) revealed that Australia’s productivity growth has slowed since the mid-2000s due to “diminishing returns from previous technological waves, the slower spread of frontier innovations across firms, weaker global growth in physical and human capital, declining business dynamism, and reduced gains from globalisation”.
Accounting bodies have said that these findings have reinforced the need for the government to focus on productivity and tax reform.
With government spending projected to increase over the next 40 years, Treasury said that this was an improvement on the previous intergenerational report.
“Spending is projected to increase from 26.6 per cent of gross domestic product (GDP) in 2025–26 to 27.7 per cent in 2065–66, an increase of 1.1 percentage points,” the report said.
While Australia’s waning productivity growth can be supported by AI, sustained growth requires investment, innovation, and economic reform, with the ageing population and fiscal pressures reinforcing the need for tax reform, the accounting body said.
Currently, the 2026 IGR keeps its long-term productivity assumption at 1.2 per cent per year, identical to that at the 2023 IGR.
“The report assumes long-term productivity growth of 1.2 per cent a year. A lot would have to go right for such an estimate to be achieved,” said CPA Australia chief executive Chris Freeland.
“Australia still has a productivity problem. Without stronger productivity growth, it becomes more difficult to lift wages sustainably, improve living standards and strengthen long-term prosperity,” he said.
Interplay between income tax and an ageing population
The 2026 IGR estimated that over the next 40 years to 2066, the number of Australians in the 85-plus age group will triple (from 625,000 today to 1.9 million), and predicted that most of this growth will occur in the 2030s and 2040s.
“As more people move into older age groups, a smaller share of the population will be in the traditional working ages, placing gradual pressure on labour supply,” the report said.
“Australia’s superannuation system is helping people fund their own retirements and reducing pressure on the Age Pension. But as our population ages, government spending on health, aged care and other essential services will continue to rise. The bigger challenge for policymakers is ensuring our tax system can sustainably fund those services into the future,” Freeland said.
This is exacerbated by Australia’s continued overreliance on income taxes, which the ATO’s latest data reveals currently sits at 52.2 per cent of the government’s revenue – a steady increase since its 2020–21 taxation statistics.
Further research by the Institute of Financial Professionals Australia (IFPA) said that the government’s current revenue structure is made narrow and inflexible by this income tax reliance, reinforced by bracket creep.
“Recent GDP growth has been driven largely by Australians working more hours rather than producing more from the hours they work. That is not a sustainable path to stronger living standards,” Freeland said.
“Bracket creep is not tax reform. It is tax increases by stealth. Australians deserve greater transparency about how much future government revenue relies on workers being pushed into higher tax brackets over time.”
“The report shows Australia will increasingly rely on fewer workers to fund a growing demand for services. This strengthens the case for comprehensive tax reform that supports growth, investment and economic participation.”
AI is not a magic pill
As the AI data centre boom continues, it is having impacts on other parts of the construction sector, with labour supply being drawn away from residential construction, which holds the majority of the 1,834 first-time insolvencies in August, according to CreditorWatch’s August Business Risk Index.
“AI will likely boost productivity by improving efficiency and unlocking new innovations, but there are a wide range of potential future outcomes. Whether the productivity impacts of AI follow the path typical of general-purpose technologies over time will depend on the long-term rates of innovation and adoption, and how Australian businesses, workers and governments engage,” the 2026 IGR read.
While productivity could come out of the AI boom, IPA chief executive Andrew Conway said that tax reform must be implemented in conjunction with investment in AI.
“The Treasurer cannot put the economy and productivity into reverse with tax changes that deter investment and then assume AI will come to the rescue,” Conway said.
“We cannot put all our eggs in the AI basket and hope a possible productivity boost will make up for a shrinking tax base.”
“AI may support productivity over time, but it is not a substitute for policy discipline. Australia needs settings that broaden the tax base, encourage investment and reduce the pressure on workers.”
Freeland added that it is important for Australia to have a clear plan for productivity growth, competitiveness in the global economy, and a more resilient local economy for future generations.
“Australia needs a serious, forward-looking reform process that supports investment, improves productivity and ensures future generations are not left carrying an unsustainable debt burden,” Conway said.
By: Carlos Tse | 29 September 2026 | accountantsdaily.com.au
Modern business demands up to date accurate financial information.
We can take care of all your bookkeeping and accounting needs, including the preparation of your annual accounts and periodic management accounts for tax, business appraisal and planning purposes.
We can also assist with meeting your reporting requirements including Business Activity Statements, PAYG Withholding and Instalment Activity Statements.
We will discuss your requirements with you and provide you with tailored information and constructive advice on a regular basis.
If you would like further information you can contact us on (02) 9300 3000 or .
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Whether you are considering buying or selling a business, we are able to assist you in this transaction by providing experienced advice.
Each transaction is different and needs to be assessed on its individual merits. There are a number of accounting and taxation opportunities with these transactions and our experience can ensure you are maximising your benefits.
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Budgeting
A good budget is a necessity in a good business plan. It is one of the best business tools we have, allowing us to set financial targets and measure our performance.
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Before commencing a new business, the following are some of the key items that need to be considered:
Decide on the most suitable structure for your business – sole trader, partnership, trust or company
Prepare a business plan, cashflow projections, budgets, and trading forecasts
Assess your finance requirements, advise on the best sources of finance, and draw up the necessary proposals
Establish a good working relationship with your bank
Register for a Tax File Number and an Australian Business Number with the ATO
Complete registration procedures with Australian Securities and Investments Commission
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Set up a recording system for your internal use and for complying with statutory requirements
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Charitable institutions are set up to hold money or assets and carry out activities for the benefit of the community. In Australia, a variety of charitable institutions exist including:
Various forms of charitable trusts
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Each type of charitable institution brings with it different requirements and benefits. We know the practicalities of these institutions and are able to assist you by:
Co-ordinating the preparation of constituent documents
Applying to the ATO for an Australian Business Number and Tax File Number
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Attending to all compliance and statutory filings
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Company Secretary
Company legislation requires businesses to perform many administration tasks which take up a lot of valuable company time.
We are able to assist you in the following areas:
General advice on company law
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Having the right financial structure in place for your business or your family means looking at your individual circumstances and ensuring that your assets are being maximised whilst being adequately protected.
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Effective structures for asset protection
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Every transaction has GST implications. We have experience with these issues and are able to offer expert advice on the implications of GST for your business. The GST related services we offer include:
Assistance with registering for GST
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Advice on GST related issues
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Management Consulting
We are practiced in acting as a sounding board for management, bringing to the relationship years of experience in business growth and analysis.
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We can provide a comprehensive and confidential payroll service including:
Administration of PAYG Withholding, statutory sick pay, annual leave etc
Australian Taxation Office filing
Summaries and analyses of staff costs
Administration of incentive schemes, bonuses and termination payments
Assistance with payroll tax and workers compensation obligations
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Rental Properties
We can assist in a variety of areas in relation to residential and commercial property including:
Advice on funding
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Our Strategic Planning Service is designed to assist our clients to develop financially towards the achievement of their lifetime objectives. Our experience and proven results provide our clients with the security that their financial goals will be met.
Wybenga Financial Pty Ltd is an organisation providing wealth creation and management services to private clients.
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Superannuation
Self-managed superannuation is a flexible means of saving for retirement. It allows you to take control of your superannuation, adopt a customized investment strategy and control fund administration costs.
Superannution law is a delicate area and personalised planning is required for each individual. We have extensive experience in all areas relating to superannuation and can assist in establishing a superannuation fund that will effectively allow you to reach your financial retirement goals.
Services we offer include:
Establishment of Self Managed Superannuation Funds
Advice concerning Compliance Matters
Advice concerning Taxation Benefits
Advice on Employer obligations
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Taxation
We offer a complete range of taxation services and advice based on proven knowledge and experience. Our proactive approach ensures we deliver a consistent service and build solid relationships.
We will work with you to help reduce your tax exposure and provide services including:
Advice on all areas of direct and indirect taxation
Preparation and lodgement of annual income tax returns for all types of entities
Preparation of PAYG withholding variation applications
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Assistance with GST/FBT obligations including preparation and lodgement of relevant forms
Advice on and implementation of tax effective trust structures for asset protection and tax minimisation
Management of any ATO audits or disputes
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Trusts
A trust provides a valuable way of protecting the assets you have accumulated for the benefit of yourself and others. A trust can also be an effective structure for running your business.
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Minute keeping service
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Secure File Transfer
Secure File Transfer is a facility that allows the safe and secure exchange of confidential files or documents between you and us.
Email is very convenient in our business world, there is no doubting that. However email messages and attachments can be intercepted by third parties, putting your privacy and identity at risk if used to send confidential files or documents. Secure File Transfer eliminates this risk.
Login to Secure File Transfer, or contact us if you require a username and password.
Chris is the Managing Director of the Firm who established the practice in August 1994 and has been responsible for its growth and development since that time.
Chris has over 40-years experience in the Chartered Accountancy profession, predominantly spent in small to medium sized firms, advising small and medium sized businesses and individuals in areas such as taxation and accounting as well as business restructuring and superannuation advice.
Chris remains active in the development of young accountants through mentoring cadets at the Firm.
1980 – Commenced employment and part time university studies
1985 – Graduated Bachelor of Business from University of Technology, Sydney
1986 – Admitted as an Associate Member of the Institute of Chartered Accountants Australia & New Zealand
1994 – Established Wybenga & Partners
Dianne Bechara
B.Bus, CA
Dianne is responsible for the day-to-day operations and administration of the practice.
Dianne has over 30-years Chartered Accountancy experience and has significant expertise in providing advice and solutions to high-net-worth individuals and their associated entities. Dianne also has considerable knowledge in the areas of taxation, business services, superannuation, and compliance.
Dianne is active in promoting gender equality in the industry through various programs and mentoring opportunities. Dianne is also committed to the development of young accountants and donates considerable time to sharing her expertise.
1992 – Graduated Bachelor of Business from University of Technology, Sydney
1993 – Commenced employment in acounting profession
1996 – Commenced career with Wybenga & Partners
1997 – Admitted as an Associate Member of the Institute of Chartered Accountants Australia & New Zealand
2002 – Appointed as Director of Wybenga & Partners
Roger Potter
B.Bus, CA
Roger has over 40-years in the Chartered Accountancy profession and significant expertise in providing advice and solutions to small and medium sized businesses and high-net-worth individuals. He also has extensive experience in the areas of Self-Managed Superannuation Funds and retirement strategies.
1985 – Commenced employment and part time university studies
1990 – Graduated Bachelor of Business from University of Technology, Sydney
1992 – Admitted as an Associate Member of the Institute of Chartered Accountants Australia & New Zealand
1998 – Commenced career with Wybenga & Partners
2002 – Appointed as Director of Wybenga & Partners
Tess Uncle
B.Sc, M.Com, CA
Tess has been working in Chartered Accounting Firms since 2001 and in this time has had a broad range of experience in superannuation, taxation, business services and financial strategy.
Since 2016, Tess has turned her attention to Financial Planning, earning a Diploma of Financial Planning in 2015 and leading the financial division of Wybenga Group as a Director of Wybenga Financial.
Tess’s mission is to bring the ethics and integrity of her Chartered Accounting background to the area of wealth management.
As a woman in a male dominated field, Tess is active in promoting gender equality in the industry through various programs and mentoring opportunities.
Using her depth of knowledge and experience in tax and accounting Tess is able to demonstrate a level of competence that is unique in the Financial Planning sector.
2001 – Commenced employment with Wybenga & Partners and part-time accountancy studies
2004 – Graduated Masters of Commerce from the University of New South Wales
2005 – Admitted as an Associate Member of the Institute of Chartered Accountants Australia & New Zealand
2007 – Promoted to Manager at Wybenga & Partners
2012 – Appointed as Associate Director
2015 – Awarded a Diploma in Financial Planning
2016 – Appointed as Director of Wybenga & Partners Pty Ltd, Wybenga Group Pty Limited and Wybenga Financial Pty Ltd
Schedule a Meeting with Tess
Adam Roberts
B.Bus, B.Sc, CA
Adam has over 18-years experience in Chartered Firms and in this time has had a broad range of experience in superannuation, taxation, and business services. In particular, Adam has had significant experience in MYOB and assisting clients with periodic management reporting.
Adam is responsible for the implementation of technology in the Firm and sourcing new areas of innovation and efficiency.
Adam is active in the development of young accountants and donates considerable time to sharing his expertise.
2005 – Commenced employment with Wybenga & Partners and part-time Accountancy Studies
2005 – Graduated Bachelor of Science from the University of Western Sydney
2007 – Graduated Bachelor of Business from the University of Western Sydney
2010 – Admitted as an Associate Member of the Institute of Chartered Accountants Australia & New Zealand
2010 – Promoted to Manager at Wybenga & Partners
2012 – Appointed as Associate Director
2016 – Appointed as Director of Wybenga & Partners
Schedule a Meeting with Adam
Hussein Oubani
B.Bus, CA
Hussein brings over 20 years of experience working in Chartered Accounting Firms, during which he has gained extensive expertise in taxation and business services. He provides advice on various tax issues, including capital gains tax, fringe benefits tax, goods and services tax, and Australia’s tax treaties.
Hussein is dedicated to fostering the growth of young accountants and generously devotes a significant amount of time to sharing his knowledge and expertise.
2008 – Commenced employment with Wybenga & Partners and part-time Accountancy Studies
2010 – Graduated Bachelor of Business from the University of Western Sydney
2012 – Admitted as an Associate Member of the Institute of Chartered Accountants Australia & New Zealand
2024 – Appointed as Director of Wybenga & Partners
Accounting Cadetships
Build your career with expert guidance from our accounting cadetships program, based in Sydney NSW.
Wybenga & Partners offer accounting cadetships at our location in the CBD of Sydney NSW. You’ll receive expert guidance as you work in the industry.
Each year we offer several school leavers or undergraduates the opportunity of beginning their career with us via an Accounting Cadetship. If you are interested in pursuing a career in accounting please read the information below. Our accounting cadetships could be perfect for you!
What is an Accounting Cadetship?
An Accounting Cadetship enables you to commence your career whilst attaining the necessary university qualifications by studying part-time.
How Does It Work?
Generally, our cadets complete a Bachelor of Commerce (BCom) or Bachelor of Business (BBus) degree at the University of New South Wales, the University of Technology Sydney, Macquarie University, or the University of Western Sydney.
The firm provides 3 hours paid study leave per week to attend University. This can either be taken at the one time or broken between days depending on the individual’s requirements. In addition, the Firm provides paid study leave for both mid-semester and end-of-year exams.
We take the work life balance very seriously at Wybenga & Partners and our cadets are encouraged to have a fulfilling life outside the office. A typical day will have you arriving at the office at around 8.30am with most days concluding at 5.30pm.
What Are the Benefits of Accounting Cadetships with Wybenga and Partners?
Our cadets benefit from the following:
Career path – on completion of their degree our cadets have significant practical experience which will assist them in advancing their careers.
Work helps your studies – by working full-time our cadets are able to apply their practical knowledge in the university subjects.
Camaraderie with other cadets – the Firm has a number of cadets at various stages of their career.
Mentoring – cadets are paired with a senior staff member who oversees their progress and training both at work and with their studies.
Communication and feedback – the Firm has an open door policy which enables all cadets to interact with all members of staff including Directors.
Culture – the Firm promotes a friendly social culture with a number of functions throughout the year.
Modern environment – including ‘socialising’ areas such as pool table and break out area.
Training – ongoing support and technical training. We also provide internal and external training on a monthly basis.
Remuneration – working full-time provides a market salary and independence with salaries being reviewed every 6-months.
The completion of your degree is the first step of what we hope to be a long and successful career with us. The next step is the commencement of your CA Program with the Institute of Chartered Accountants Australia and New Zealand whilst at the same time continuing your employment with us.
A number of cadets have progressed to Seniors, Managers, and Directors within the firm.
Who Should Apply?
Current Year 12 students or first/second year University Students who:
want to commence their career in accountancy;
are due to commence or are currently completing a part-time business or commerce degree at university with an accounting major;
want to gain valuable hands-on experience while completing their qualifications;
are looking for a friendly working environment;
are team players who display initiative;
have a commitment to self-development;
possess excellent personal presentation and communication skills; and
are motivated and mature minded.
How Do I Apply for an Accounting Cadetship?
To apply for a Cadetship position at Wybenga & Partners send us your details. Please also include in your covering letter why you wish to do a cadetship, include relevant qualities you possess, main interests / achievements, and any previous employment.
Interested candidates should initially forward a resume/covering letter of no more than 3-pages. Please provide full details of contact information (telephone or e-mail).
What If I Have More Questions?
For further information about our Cadetship program, please send your enquiry to .
Skilled Accountants
Wybenga & Partners offers a stimulating work environment giving you the opportunity to develop your future success.
Wybenga & Partners recognises and promotes that there is more to life than work. We know that your needs change and we provide support to balance your work, academic and lifestyle pursuits.
We welcome enquires from trained accountants regarding a career with Wybenga & Partners. Please email us your details to .
