Original article by Matthew Cranston, Tom McIlroy
The Australian Financial Review – Page: 7 : 9-Jul-20
A report from the Organisation for Economic Co-operation & Development shows that corporate tax accounted for about 5.5 per cent of Australia’s GDP in 2017. This compares with an average of three per cent across all OECD member nations. The US and the Bahamas are among 15 jurisdictions whose corporate tax rates comprise less than two per cent of GDP. Treasurer Josh Frydenberg contends that Australia’s lower value add tax is a key reason for the nation’s personal and corporate income tax rates being higher than the OECD average.
ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, AUSTRALIA. DEPT OF THE TREASURY