Original article by Tom Dusevic
The Australian – Page: 2 : 30-Jun-21
The Business Council of Australia has released a discussion paper which calls for an overhaul of the nation’s tax system. The BCA contends that tax revenue is too heavily skewed toward the largest companies and the three per cent of individuals who pay the highest personal income tax, and the tax system must evolve in line with a changing economy. BCA CEO Jennifer Westacott says the 30 per cent company tax rate in particular needs to be reviewed, given that the OECD and the Group of Seven have proposed a global minimum corporate tax rate of just 15 per cent.
BUSINESS COUNCIL OF AUSTRALIA, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, GROUP OF SEVEN (G-7)