Populism and polarisation in Canberra mean that a sensible debate about tax policy was never likely to happen ahead of an election due by May 2025. Major reform of Australia’s economically damaging taxation system would help boost business investment and lift falling productivity to help finally tame inflation. Real structural tax reform would seek to cut taxes on personal and company income and shift more of the tax burden onto consumption and land.
It’s a policy lever the political class should pull to stimulate Australia’s stagnant economic growth and generate more prosperity for all Australians. But both Labor and the Coalition refuse to engage with the mainstream, incentive-sharpening taxation reform principles that are backed by non-partisan tax experts and economists.
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