The tax institute has released a 287 page report on how to fix the Australian tax laws which have cost the nation about $50 billion in compliance costs, while inefficient taxes are costing even more in lost economic growth.
The report argues that Australia is over-reliant on personal and company income taxes. And that there should be a higher rate and/or broader base for the GST, which may include taxing education, health and fresh food.
Finally, according to the tax institute, Australia's super system is too complex and the tax breaks remain far too generous, and that a modest inheritance tax should be included to ease some of the pressure.