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Australian Governments Discuss Tax Reform Options

by Mary Swire, Tax-News.com, Hong Kong

14 December 2015


Australia's federal, state, and territory governments will continue to explore all options for tax reform, with the states agreeing that their taxes and tax bases "will be part of the discussion," federal Prime Minister Malcolm Turnbull has said.

Turnbull was speaking after a meeting of the Council of Australian Governments (COAG). "We've agreed to continue investigating a full range of Commonwealth and state tax and revenue-sharing options. We've reiterated our commitment to changes to the tax system being fair with a growth-enhancing tax mix and base and we have all reiterated our commitment to keeping tax as low as possible," he told a press conference.

COAG is next due to meet in March 2016. According to Turnbull, the Council will "not simply consider the work we've done." It will instead "aim to take action" when governments "have had a further opportunity to discuss the many issues and approaches that have been canvassed around."

When prompted as to whether the federal Government will put its own preferred tax plan to the March meeting, Turnbull stressed that "March is not very long before the federal Budget so whatever tax plans we take to the Budget you would imagine would be highly, would be well advanced by March."

TAGS: tax | goods and services tax (GST) | Australia | ministry of finance | tax rates | tax reform | services

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