International Law

Review of Australia?s tax system

Treasury has released the terms of reference for the review of Australia?s tax system confirmed by the Treasurer in his Budget speech.

The review will encompass Australian Government and State taxes, except the GST, and interactions with the transfer system. In doing so the review will reflect the government?s policy not to increase the rate or broaden the base of the goods and services tax (GST); preserve tax-free superannuation payments for the over 60s; and the Government?s announced aspirational goals for personal income tax.

The review will be conducted in several stages. An initial discussion paper will be released by the end of July 2008. The review panel will provide a final report to the Treasurer by the end of 2009.

Full post as published by Australian Regulatory Compliance Review on May 14, 2008 (boomark / email).