In 2010 we had budget changes, the Henry Review, Cooper Review and the Ripoll Inquiry, all trying their level best to complicate the tax system even more than it already is. There has been an overwhelming about of industry and public backlash over an increasingly unworkable and complicated tax system.
Finally the Government has bowed to public pressure and agreed to a tax summit by June 2011. The objective of the summit will be to, once and for all, consider all of the proposed tax simplification measures and develop a consensus for change.
Our vision is a much simpler tax system where benefits are automatically delivered rather than relying on individuals and business having to complete vast volumes of paperwork. Cutting out hundreds of millions of dollars wasted money and time will allow better services for all Australians and, just as importantly, more money in all our hip pockets!
Would you like a say? We would love to hear your opinion on how the tax system could be improved or simplified for the betterment of all Australians. So please starting posting your opinion now!
Comments
one suggested in Europe- a tax levied on banks for their financial transactions. It should no longer be possible for wealthy corporations/individuals to pay less tax than the PAYG taxpayer. Our country can no longer afford the luxury of permitting these unjustified
exceptions. The principle should be "the more you have, the more you can afford to pay."
it mainly benefiting the affluent elderly?? What about the sustainability of retirement income for those less fortunate, especially with the ageing population??