In 2008 Labor established the Henry Review of taxation ‘for the future’ but failed to follow it through with real change. Instead, new ‘levies’ were imposed on middle Australia, which continues to bear the burden, now at breaking point. Only radical taxation reform can ease Australia’s fundamental financial problems. Sanity must prevail!
The Australian Taxation Reform Group made presentations to the Henry Review in 2009, proposing a one per cent transaction tax that would eliminate all other taxes, capture all levels of business, bringing in twice the current revenue. Capable of being collected electronically, this would also eliminate any need for the often toxic tax bureaucracy. With Australia’s finances in a parlous state, this is the time to bring in real reform before more businesses collapse and more jobs are lost. Shadow treasurer Joe Hockey has talked up real reform. For the nation’s future – talk to us!
Elwyn Matthews, Chair, ATRG, Wonthaggi.