Henry Tax Review is an opportunity to lower high costs of tax, says DeloitteDOWNLOAD
Australia's Future Tax System Review (AFTSR) to be released on Sunday by the Federal Government offers the opportunity to increase Australia’s prosperity by lowering the high costs of taxation, according to a brief issued to its clients by professional services firm, Deloitte. The firm also released details of their response and spokespeople for next Sunday’s announcement.
Henry Ergas, Senior Economic Adviser, Deloitte Economics and co-author of the brief, said lowering the cost of taxation is desirable in its own right, but all the more important as Australia faces the challenges of globalisation and of an ageing society.
“An efficient tax system would equalise the marginal excess burden across different taxes. An important objective of tax reform is to reduce reliance on taxes with high marginal efficiency costs, and shift that reliance to taxes with relatively low efficiency costs,” Mr Ergas said.
The Deloitte client brief ‘Australia’s future tax system review: What are the issues? An economic perspective’ discusses some of the main economic issues that have been raised in the tax reform debate. It also examines some of the areas likely to be the subject of reform proposals, and considers some of the possible implications of these changes.
Deloitte makes these observations in the brief:
The economic brief is available from the Deloitte Henry Review website.
Deloitte response to the Australia's Future Tax System Review (AFTSR)
Deloitte will have a team of Tax partners available for comment this coming Sunday (2 May 2010) when the Government releases the Australia's Future Tax System Review (AFTSR).
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