Five problems with the Australian tax system and the changes to Stage 3 – Oliver’s Insights
AMP’s Dr Shane Oliver discusses the key issues with Australia’s tax system in the context of the changes to the Stage 3 tax cuts in this edition of Oliver’s Insights.
Dr Oliver summarises the key points as follows:
- The Australian Government’s changes to the Stage 3 tax cuts have refocussed 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.
You can access a copy of this edition of Oliver’s Insights here: