Tax Discussion Paper released

The release of the tax discussion paper this week looking at how tax is collected and distributed is the start of the Commonwealth's process of engaging the community on the need for significant reforms to our taxation system. The paper does not present options for reform but instead looks at our overall reliance on income and corporation taxes, the nature of the rate and base of the GST (and how it compares with similar taxes in other countries), the reliance of State on taxes such as stamp duty and land tax (including municipal rates), and the arrangements and exemptions for the not-for-profit sector.

ALGA will be making a submission on the discussion paper as will State and Territory Associations and I will be encouraging councils to engage in the process. Information on the Discussion Paper and the broader White Paper process are available here, and the deadline for submissions is 1 June 2015.