Respected business and tax leader passes away

Michael Andrew, a well-respected member of the accounting and business community, passed away on Monday. 

Mr Andrew was the chair of the Board of Taxation since January 2015, as well as chair of the Black Economy Taskforce, which was established in 2016 to address the rise in illegal activities taking place outside Australia’s tax and regulatory system. 

Federal Treasurer Josh Frydenberg paid tribute to Mr Andrew, acknowledging his contribution in making the nation’s tax system fairer for Australians. 

“Michael’s ambition was to make the tax system fairer for all Australians and leave it in better shape for future generations. Michael’s legacy will continue well into the future,” Mr Frydenberg said.

“Under Michael’s chair, the board has made valuable contributions on a range of issues spanning the tax system, with Michael bringing a real focus on simplification and red tape reduction.

“On a personal level, over the number of years I have known Michael, I have always found him profoundly decent, professional and possessing a strong sense of public duty.”

Chartered Accountants Australia and New Zealand CEO Rick Ellis similarly commended Mr Andrew’s contribution to improving the nation’s system. 

“In his most recent role as chair of the Board of Taxation, Michael worked tirelessly to provide government with both a business and community perspective on how Australia’s tax laws could be improved,” Mr Ellis said. 

“As an example of his dedication, as chair of the Black Economy Taskforce, Michael worked on a pro bono basis to meet with and understand the concerns of sole traders and businesses, professionals and regulatory bodies.

“With many of the taskforce’s recommendations implemented, many Australians and community groups will benefit from Michael’s commitment to building fairness and equity into the Australian tax and welfare system for many years to come.”

Mr Andrew was also the chair and CEO of KPMG International from May 2011 to July 2014 – the first Australian CEO of a big four accounting firm. 

Additionally, during his long-distinguished career, he was the chair of the Australian B20 Working Group on Anti-Corruption and Transparency and its Global CEO Forum, and was a member of the Business Council of Australia and the International Business Council of the World Economic Forum.

Outside of accounting and business, Mr Andrew was the chair of the Australian Prostate Cancer Research and director of Racing Victoria.

“I wish to express our deepest condolences to his wife Mardi and his daughters Danielle and Monique. I’d also like to record our heartfelt appreciation for the time and effort Michael gave to the advancement of taxation policy in Australia,” Mr Frydenberg said.