Media release - Time to ‘re:think’ our tax system

30 March 2015

Today marks the start of a conversation about how we bring a tax system built before the 1950s into the new century.

The tax discussion paper, released today, begins a dialogue on how we create a tax system that supports higher economic growth and living standards, improves our international competiveness and adjusts to a changing economy and new opportunities.

The recent 2015 Intergenerational Report illustrates that we need to take continued steps to boost productivity and encourage higher workforce participation to drive future economic growth.

While the report projects income growth will slow, it also shows that Australia can continue to prosper by making the best of our circumstances and opportunities.

Tax reform is a critical part of the Government’s policy to create jobs, growth and opportunity.

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