Speech - An inside perspective on the Tax White Paper
Last week Roger Brake, Division Head, Tax White Paper Task Force gave an address to the Vic 3rd Annual Tax Forum. Here is an excerpt:
Tax reform is not an end in itself. Rather, reform to the tax system should be seen in a much bigger picture of Australia’s economic and social progress.
As the Prime Minister and Treasurer have said, we have extraordinary economic opportunities in Australia. To make the most of them, we need to make our economy more adaptable, more productive and more innovative. Incentives need to be right, including the incentives generated from the tax system.
I want to expand more on what our changing world means for our tax system and focus on the big picture. I will mention three areas of change: the first being the impact of technological innovation and globalisation; the second, the ageing of the population; and last, productivity and the living standards challenge for Australia.