On 13 May 2008 it was announced that the Federal Government would conduct a review of Australia’s current tax system and make recommendations to position Australia to deal with the demographic, social, economic and environmental challenges of the 21st century.
Known as the Henry Tax Review (named after the Secretary to the Treasury, Dr Ken Henry), the Federal Government’s paper is the most comprehensive review of Australia’s taxation system in over 50 years.
As a member of the Business Coalition for Tax Reform (BCTR), REIA has been involved in the development of a submission to the Henry Tax Review called State business tax reform: Seeding the tax reform debate. The paper examines the scope for reforming inefficient taxes such as property taxes and notes that replacing inefficient business taxes with better revenue sources is a crucial step towards improving the economic health of the nation.
To view a copy of the paper, click here. For more information, contact REIA Manager Policy, Jock Kreitals at jkreitals@reia.com.au. |
