The Business Council of Australia has just published a paper which sets out clearly and concisely the problems with our system of taxation. It explains precisely how our tax base is too narrow, how the rate of tax on both PAYG and business tax payers is too high, how GST revenue is being eroded and the cost of the inefficiencies in the taxation and transfer systems. For those who would like more detail, you can find the paper here:,bca.au/publications/reports-and-papers. For those who do not have the time, some of the recommendations are reduce the company and personal tax rates, increase the GST, apply the GST to everything, eliminate the FBT and simplify the whole system. These are all the things that The Australia Together Party has been arguing for over the last two years. The Government must act soon because the longer the delay in commencing this reform, the less productive our economy becomes.
Posted on: Thu, 11 Sep 2014 08:43:01 +0000
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