This video discusses the principles which should underpin an efficient and equitable tax system. It says that any Australian Government intent on advancing genuine tax reform should be prepared to genuinely engage and reach agreement with state and territory governments about the federal/state financial relations implications of any tax reform. Based on this principle, the video argues that the taxes introduced by the present Commonwealth Government were not designed on the basis of good long-term public policy, but were designed to generate additional cash for the government quickly. These include alcohol taxation, the tax on the northwest shelf gas project, the increase in the luxury car tax, the mining and carbon taxes. The video argues that, having received the Henry Review report recommendations, the government should have engaged in proper, structured, open, transparent and inclusive consultation. Finally, it outlines the Coalition’s preferred approach to tax reform.
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The principles underpinning an efficient and equitable tax system
Author(s): Mathias Cormann