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Knowledge@ASB - Tax Reform: Picking Up Pace for Bringing on Henry
It's a year since the release of the report on Australia's Future Tax System Review,
headed by recently retired Treasury chief Ken Henry. The review was
just the start of the Labor Party fulfilling its election promise of a
"root and branch" overhaul of taxation. But one year on, not many of the
review's 138 recommendations – including a resources rent tax, a 5% cut
in company tax and a leap in the personal tax threshold – have been
enacted. However, review panel member, John Piggott, an economics
professor at the Australian School of Business, says there are positive
early signs of change, and several decades for reform.
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It's a year since the release of the report on Australia's Future Tax System Review,
headed by recently retired Treasury chief Ken Henry. The review was
just the start of the Labor Party fulfilling its election promise of a
"root and branch" overhaul of taxation. But one year on, not many of the
review's 138 recommendations – including a resources rent tax, a 5% cut
in company tax and a leap in the personal tax threshold – have been
enacted. However, review panel member, John Piggott, an economics
professor at the Australian School of Business, says there are positive
early signs of change, and several decades for reform.
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