This excellent article from Mondaq has some gems that we thought were interesting enough to share with you. It’s called Rethinking Tax Reform – It’s Now Or Never.
In it, Melinda Peters shares some thought-provoking suggestions and insights. This one is particularly fascinating:
Perhaps the simplest change, and that likely to have the greatest impact in the immediate term, would see Australia re-visiting its GST regime with a view to both increasing the rate, but also addressing the vast array of goods and services currently excluded from the regime. Coupling reform with reductions in tax payable elsewhere in the system (or assistance packages for those who need it in the short term) should make this more palatable for the Australian public – although of course the ‘elephant in the room’ is that this will require both the Federal and State Governments to agree on the reforms.Melinda Peters
The rest of the article gets even more in-depth. So, if you want to read more of Peters’ perspectives, just click on this link to Mondaq.com.