Tax reform architect Ken Henry has warned economically damaging "stealth" tax rises on personal income and companies since his 2010 landmark tax review for the Rudd government have left the nation's revenue stream at breaking point.
A decade of lost tax reform, epitomised by a populist $6 billion ad hoc bank tax, had failed Australians on the tests of fairness, economic efficiency, complexity and managing risk during people's lives, Dr Henry said at the NSW Review of Federal Financial Relations forum.
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John 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
Bo Seo is a journalist for The Australian Financial Review based in the Sydney office. Email Bo at bo.seo@afr.com.au
Matthew Cranston was The Australian Financial Review’s United States correspondent.
