democrat synopsis of tax reform.

Trawling through crikey’s coverage of the Federal Budget, I came across Senator Andrew Murray’s short and sharp summary of what needs to be done:

“A structural income tax reform plan should include raising the tax free threshold significantly to take millions of Australians out of the income tax system; indexing the rates to account for bracket creep; broadening the base by cutting out tax concessions that are inequitable, inefficient, outdated, unnecessary, or distortionary; reforming the tax welfare intersects to encourage welfare to work and remove inequities; and ensuring nominal tax rates remain fair and competitive”

I can’t say much more than that, apart from lamenting the fact that there is no mention of this in the Treasurer’s budget speech to the National Press Club.

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Filed under austray-ya, pol econ, quotes

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