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Tax white paper calls for urgent upheaval

The economy’s reliance on income and company taxes has barely shifted since the tax system was conceived after World War II, highlighting an urgent need for reform, the federal ­government’s tax white paper says.

Phillip Coorey
Phillip Coorey | Chief political correspondentPolitical editor
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The economy’s reliance on income and company taxes has barely shifted since the tax system was conceived after World War II, highlighting an urgent need for reform, the federal ­government’s tax white paper says.

The report, which was supposed to be launched this month but has now been postponed until the new year, will pave the way for a complete upheaval of the tax system, including increasing the rate and broadening the base of the GST, and increasing taxes on superannuation.

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Phillip Coorey is the political editor based in Canberra. He is a two-time winner of the Paul Lyneham award for press gallery excellence. Connect with Phillip on Facebook and Twitter. Email Phillip at pcoorey@afr.com

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    Original URL: https://www.afr.com/news/policy/tax/tax-white-paper-calls-for-urgent-upheaval-20141217-129emx