Wesfarmers: Axe payroll tax instead of extending JobKeeper

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Wesfarmers CEO, Rob Scott, has called on governments to cut payroll taxes in place of extending JobKeeper:

“It [JobKeeper] is a very expensive program for taxpayers, so longer-term we need to look at what we can do to encourage job growth and stimulate investment”…

Explaining his opposition to the payroll tax, he argued that “to have a tax that is levied against jobs seems to be working against what we’re trying to achieve, which is creating jobs for Australians. In a world where technology and digital are disrupting industries, there’s currently a disadvantage in the tax system for businesses that rely on people.”

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.