is challenging both Labor and the Coalition to go to the May federal election with a commitment to commission an independent review of Australia’s broken taxation system in their first year in office, and commit to incentive-sharpening structural tax reform by the end the next three-year parliamentary term.
The solution is just as well-known: a revenue-neutral tax-mix switch that shifts the tax burden from productive work and investment onto less economically damaging taxes on consumption and land – and perhaps to resource rents and inheritance. The aim would be to raise more taxes by sharpening the incentives to grow the economy.
How would prime minister Albanese pay for Labor promises such as increased funding for aged care? Would he opt for a Medicare-style levy that the Henry tax review said should be removed from the tax system? Mr Howard spent the political capital of the Coalition’s 1996 landslide victory to “buy” a mandate for the GST at the 1998 election.
And Bill Shorten’s half-cocked tax plans targeted those – such as self-funded retirees – “who don’t vote for us”.
Can we just make sure we fix it this time. I don't want to need to look at the. - 1936 - 1997 - 2024 Acts