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Australia needs major tax reform that considers all aspects of the tax system, not just the GST, according to the IPA.
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GST debate too narrow, says IPA
15 January 2015
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4 minute read
“While we do not disagree that there has to be a debate over the GST which represents one of our efficient indirect taxes, it is not the only tax to be discussed,” said IPA chief executive officer, Andrew Conway.
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The tax white paper is an ideal opportunity to elevate public debate about the best taxation system for enhancing our productive capacity, according to the IPA.
The institute said genuine tax reform is about improving the structure of the tax system to reduce the cost that raising revenue imposes on the economy.
As such, Mr Conway said the IPA is calling on the government to educate the public around the total tax mix and what it means to drive future productivity, and hence the future prosperity of the country.
"Australia faces interconnected twin challenges: ensuring fiscal sustainability, as outlined in the recent Budget update, combined with the need to boost productivity growth to sustain growth in living standards," he said.
“The public needs to assess whether the complete reform package delivers fair outcomes that are in the national interest. The current debate focusing solely on the GST is not preparing the public for a mature debate on the optimal tax mix.
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“People need to be aware of the necessity for the reforms ahead; be forewarned and prepared so we can all enjoy the economic wellbeing that will be delivered if we get serious about tax reform,” Mr Conway said.
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