The Tax White Paper wish list
10 Mar 15 |
CCH TAX WEEK
Issue: Issue 7, 27 Feb 2015
Pages: pp 1-4
Australia is not a high taxing country. We are around the bottom of the pack in terms of tax percentage of GDP. However, the global position masks a capricious system riddled with incongruity, complexity, distortion and inequity. Some aspects of the tax system provide a welfare state for the middle class and the wealthy. At the same time we have a highly progressive personal tax rate structure constructed with very complex rules - particularly in the small business area - which hinders entrepreneurship.
There are some key problem areas which should be addressed as part of any root and branch review of the tax system.
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Mark Friezer is a taxation partner at Clayton Utz. He advises on income tax law, focusing on finance, corporate tax and international tax. He has an extensive understanding of business tax reform from his participation in various government consolidation committees. Mark is the 2013 National Chairman of the Law Council of Australia Tax Committee and also a member of the National Tax Liaison Group (NTLG), and is on the Advisory Panel for the Board of Taxation.
- Current at
16 July 2013