The Australian Government has promised that it will hold a debate on tax reform in parliament next year that will encompass a re-examination of the Henry tax review, plus any other reform measures that come out of the tax summit.
In her opening speech to parliament on Tuesday 28 September, the Governor-General, Quentin Bryce AC, said that during this term the government would: pursue the earlier announced plans in the tax and superannuation area to reduce the tax burden on the business sector; enhance retirement incomes; simplify tax returns for ordinary taxpayers; and obtain a more equitable distribution of the nation’s natural wealth through the Minerals Resource Rent Tax.
