Former Treasury Secretary Dr Ken Henry, who published a 1,000-page review of Australia’s tax system in 2010, has urged fundamental tax reform, arguing the current system is an “intergenerational tragedy”.
Henry says Australia’s tax system is worse than it was 15 years ago, and young people are paying the price via higher tax burdens (lower disposable income), as well as worse access to necessities like housing.
He also says the inequities will worsen as the population ages and reliance on income taxes grows.
