Tax system doesn’t support recovery

Original article by John Kehoe, Patrick Durkin
The Australian Financial Review – Page: 6 : 23-Apr-20

Former Treasury secretary Ken Henry has backed calls by Reserve Bank of Australia governor Philip Lowe for an overhaul of the tax system when the pandemic is contained. Henry led a review of the tax system in 2010, and he contends that its findings and recommendations are still relevant. Amongst other things, Henry advocates replacing the GST, payroll taxes and some state-based taxes with a new tax on business cash flow. He has also proposed phasing out stamp duties in favour of a land tax system.

CORPORATES
RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY

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