05 Feb Five problems with the Australian tax system – and the changes to Stage 3

Key Points:

• The Australian Government’s changes to the Stage 3 tax cuts have refocused attention on the need for tax reform.
• The Australian tax system has five key problems: it’s heavily reliant on income tax; it’s complicated by numerous tax concessions; it’s highly progressive; it has ongoing problems with “bracket creep”; & suffers from several anachronisms.
• Failure to reform the tax system risks further damaging productivity growth and Australians’ living standards.

To read the full article click here.