Australia's Future Tax System

Consultation Paper Summary

Background

On 13 May 2008 the Australian Government announced the Australia's Future Tax System Review.

The Review Panel is to make recommendations by the end of 2009 to position Australia to deal with the demographic, social, economic and environmental challenges of the 21st century.

The terms of reference for the review are at Appendix A.

As part of the review, the Australian Government also announced an investigation into measures to strengthen the financial security of seniors, carers and people with disability. The Review Panel will report on this aspect of the review by 28 February 2009.

In August 2008 the Treasury released a discussion paper — Architecture of Australia's tax and transfer system — and on 19 August the Panel called for public submissions guided by four broad consultation questions.

People and organisations from across the community contributed with submissions covering a wide range of ideas, views and issues. The Panel also met with major representative organisations to discuss structural design priorities.

The input provided through this initial consultation process has contributed to the development and release of the Panel's first consultation paper. The Consultation paper outlines the key emerging issues and, through a series of specific focusing questions, sets the foundation for further community engagement into 2009.

This document is a summary of the main Consultation paper.

A separate consultation paper on the retirement income system has also been released to meet the Australian Government's request that the Panel bring forward its consideration of the retirement income system and report to the Government by the end of March 2009. This will allow the Government to consider the issues facing the retirement income system in conjunction with those arising from the Pension Review due in February 2009.