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Tax reform paper released.



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PRESS RELEASE

Tax Reform Paper Released

Friday, August 26, 2005

Malcolm Turnbull released today a research paper on the financial costs of tax reform.

Entitled "Taxation Reform in Australia: Some alternatives and indicative costings." it was

written by Mr Turnbull and Jeromey Temple from the ANU.

The report models the costs of 274 different types of tax reform to the personal income tax

system, varying rates and thresholds. The paper also models the likely impact of these

changes on different income groups, recognising that tax reform must be seen to deliver

benefits to a broad range of taxpayers and not simply those on the highest rates.

The paper proceeds on the basis that reforms should ideally be revenue neutral, that is to

say that their cost to the revenue be sufficiently small that it can be made up from likely

increases in compliance and labour market responses or from removing tax concessions

(broadening the base).

The key finding from this study is that fundamental reform to the Australian taxation system

is financially feasible. We can afford, Mr Turnbull contends, to lower our tax rates, simplify

our tax system and reduce the heavy burden of compliance and red tape on Australians.

A copy of the paper can be downloaded from the downloads section of this website.

Authorised by M.Turnbull, Level 1, 5A Bronte Rd Bondi Junction NSW 2022