Business
Tax system plunders workers and companies – The Australian Financial Review
While Australia is a relatively low-taxing country by international standards, the composition of the tax take is heavily skewed to workers and corporations.
The GST share of tax revenue is almost half of the OECD average of 20.4 per cent for valued added tax (VAT), according to the OECD’s Consumption Tax Trends 2020.
For the past decade, the Ken Henry tax review, business, International Monetary Fund and OECD have urged Australia to shift its dependence from economically distorting personal income tax and 30 per cent corporate tax, towards consumption and land.
Australian National University Tax and Transfer Policy Institute director Robert Breunig…
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