Current tax system

Setting the standard

The National Tax Reform Summit (which was held in Canberra during 1996) set out the criteria for a good tax system. These are:

  • The tax system must be simple.
  • It must have a low compliance cost.
  • It must be transparent (no hidden taxes).
  • It must not be avoidable, especially by the rich.
  • It must be adequate (raise sufficient revenue).
  • It must be socially equitable.
  • It must be efficient.

 

Our current system

The Australian Treasury published a number of reports after it examined our current tax system. Tucked away in a corner is the amazing statistic that we currently have 125 different taxes that affect Australians. The majority of government taxes are from 3 sources, namely:

  • Personal income tax (44.8%)
  • Company tax (22.3%)
  • GST (15.7%)

 

Future tax system

 

 

Our current taxes

Below is a list of a few of the taxes that you pay - from the full list of 125 taxes that exist within Australia. Let's not forget to add to the list the new Carbon Tax.

  • Accounts Receivable Tax
  • Airline surcharge tax
  • Airline Fuel Tax
  • Airport Maintenance Tax
  • Building Permit Tax
  • Cigarette Tax
  • Corporate Income Tax
  • Goods and Services Tax
  • Death Tax
  • Dog License Tax
  • Driving Permit Tax
  • Environmental Tax (Fee)
  • Excise Taxes
  • Federal Income Tax
  • Federal Unemployment (UI)
  • Fishing License Tax
  • Food License Tax
  • Petrol Tax
  • Gross Receipts Tax
  • Health Tax
  • Hunting License Tax
  • Inheritance Tax
  • Interest Tax
  • Liquor Tax
  • Luxury Taxes
  • Marriage License Tax
  • Medicare Tax
  • Mortgage Tax
  • Personal Income Tax
  • Property Tax
  • Poverty Tax
  • Prescription Drug Tax
  • Real Estate Tax
  • Recreational Vehicle Tax
  • Retail Sales Tax
  • Service Charge Tax
  • School Tax
  • Telephone Federal Tax
  • Telephone Provincial and Local Surcharge Taxes
  • Telephone Minimum Usage Surcharge Tax
  • Vehicle License Registration Tax
  • Vehicle Sales Tax
  • Water Tax
  • Watercraft Registration Tax
  • Well Permit Tax
  • Workers Compensation Tax