Twenty-five years ago, Australia pulled off one of the most ambitious and contentious tax policy overhauls in its history.
After decades of false starts, political blow-ups and reform failures, the 10 per cent goods and services tax started on July 1, 2000, reshaping the way the country raised revenue and handing the states a growing source of funding. It was sold as a once-in-a-generation fix: simpler, fairer and better for the economy.
Michael ReadEconomics correspondentMichael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
John KehoeEconomics editorJohn Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
