Tax

Before we start another round of tax reviews why not implement outstanding suggestions from the last one.

Ken Henry’s review of the tax system delivered in May last year was a fantastic piece of work with some great suggestions which have been largely ignored or any changes have been half baked..

Our top 3 Henry suggestions to be implemented would be;

. Increase tax free threshold to $25,000 and then a flat tax rate or reduce tax bands. The tax free threshold has been increased, now finish the job with flat tax or reduced tax bands.

. Reduce company tax to 25 per cent. The Government is reducing it to 28 per cent over the next couple of years but make a commitment now to cut to 25 per cent.

. provide a 40 per cent saving income discount on interest income. Capital Gains receive tax concessions by we’re all hit with our full marginal rate on interest returns. Why?