10 December 2006

Urgent reform is needed to avoid Australia’s corporate tax burden climbing to levels not seen since business taxes were cut following the Ralph Review in 1999, a new BCA report says.

The BCA’s Corporate Taxation: An International Comparison (2006 Update) compares the overall burden of taxes on Australian companies with taxes in competitor countries, such as our trading partners, the OECD and the European Union.

The report, prepared in conjunction with KPMG, found Australia’s corporate tax burden has risen to 5.7 per cent of GDP, up from 5.1 per cent a year ago, more than double that of the United States and almost double the level in the United Kingdom.

View the news release and the report at the following links.