Tax Reform

Protecting our prosperity - The pathway to a better tax system

It is critical to Australia’s future prosperity that we pursue genuine tax reform. We cannot waste the opportunity offered by the White Paper on Tax Reform process recently initiated by the Commonwealth Government. This process, along with the associated Reform of the Federation White Paper process which is occurring concurrently, creates a unique moment for fundamental national reform.

View PwC’s response to the Commonwealth Government’s Tax Discussion Paper

PwC believes there is a clear need for comprehensive tax reform - done the right way. The 'right way' means increasing those taxes that have the least effect on investment and employment, and at the same time reducing reliance on taxes that distort incentives to work, invest and transact business. It also means addressing those factors which increase the complexity of the tax system and the cost of compliance.

This is an issue that will not go away. As part of a broader community discussion about the challenges Australia faces, we need an informed and intelligent conversation on tax. Leaders of civil society, business, unions and the public policy community must drive this conversation if we are to realise the benefits across all parts of society. The overall objective is twofold: economic growth, and enhancing the well-being of the Australian public.

Australia's tax system: an infographic

Australia's Tax System: an infographicExpand
 

Tax reform: why you should care