Major Tax Reform Proposal in Australia Promises Fairness and Efficiency
The research project aimed to develop a better personal income tax system for Australia. They used surveys and simulations to come up with a model that broadens the tax base by removing certain concessions and introducing new measures like tax credits. The proposed changes are expected to be revenue neutral, fair, and simpler for taxpayers. Surveys showed strong support for the reform among taxpayers, but tax practitioners were more hesitant about the potential impact on their incomes.