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26 Oct 09 Treasurer's Economic Note on tax reform

In an Economic Note published on Sunday 25 October 2009, the Treasurer, Wayne Swan, spoke (amongst other things) on tax reform. He said:

"Tax reform is another one of the Rudd Government's top priorities. The Henry tax review is the biggest review of Australia's tax and transfer system in the last 50 years. It's consulted tirelessly over the past year and a half, receiving over 1,300 formal submissions and holding almost 200 meetings with members of the public, stakeholders and other relevant organisations. Ken Henry will hand down his report to the Government at the end of this year, and we'll release it with an initial response in early 2010. I'm not going to pre-empt the review before then, but I've made it clear that my vision is for a tax system that is simpler, fairer and more competitive. As things currently stand, individual Australians don't see a tax system – they see a jungle. Almost three-quarters of Australians need professional assistance just to do their annual tax return, which is the highest rate of anywhere in the world. I think Australians have enough on their plate. They deserve a simpler tax system that saves time and is easier to use. The tax review is all about doing the hard yards on tax reform so we can deliver a better tax system for all Australians."

For a copy of the Economic Note, No 2009/032, 25 October 2009, go here


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