Unrealised Gains: The Competitive Possibilities of Tax Reform

14 June 2009

The BCA has launched its final submission to the Henry review of taxation, titled Unrealised Gains: The Competitive Possibilities of Tax Reform, which sets out a long-term vision for tax reforms that drive economic growth.

The submission calls for a tax system that maximises community wealth.

Among the reforms proposed in Unrealised Gains are lower corporate tax and lower taxes on local savings, measures that support a shift in focus over time away from taxing the means of production to taxing consumption.

In the tougher economic environment of the next decade, our biggest growth opportunity will come from attracting a larger share of scarce global investment capital.

Lower corporate tax and lower tax on local savings will boost investment. And higher investment in turn will raise productivity, wages and living standards over the next 20 years.

As the population ages we must also reduce Australia’s reliance on income taxes over time and consider the potential for indirect taxes to underpin stronger growth.

Download a copy of Unrealised Gains: The Competitive Possibilities of Tax Reform here.

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• Unrealised Gains: The Competitive Possibilities of Tax Reform