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AFTS Review

AFTS Review. Rob Heferen The Community Tax Forum The Second National Tax Reform Symposium 19 May 2009. Timeline. Architecture paper. Budget announcement. 2020 Summit. April 2008. August 2008. May 2008. Consultation paper. Consultation Stage One. Consultation Stage Two.

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AFTS Review

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  1. AFTS Review Rob Heferen The Community Tax Forum The Second National Tax Reform Symposium 19 May 2009

  2. Timeline Architecture paper Budget announcement 2020 Summit April 2008 August 2008 May 2008 Consultation paper Consultation Stage One Consultation Stage Two Public submissions August to October 2008 December 2008 Public meetings March 2009 Focus groups April 2009 Retirement income report Tax policy conference Issues papers (?) July 2009 May 2009 June 2009 Ongoing consultation FINAL REPORT December 2009 July to November 2009

  3. Key directions for reform • Possible radical simplification • Individuals and possibly small business • Improve incentives for workforce participation • Ensure Australia is attractive for productive investment • Continue on improved path for Commonwealth/State relations

  4. Headache of tax/transfer interaction Transfers and taxes by level of income Single income family, two children aged 3 and 8 (2008-09) Source: Australian Treasury 2008, Architecture of Australia’s tax and transfer system, Australian Treasury, Canberra, p. xviii.

  5. Impact on effective marginal tax rates Transfers and taxes by level of income Single income family, two children aged 3 and 8 (2008-09) Source: Australian Treasury 2008, Architecture of Australia’s tax and transfer system, Australian Treasury, Canberra, p. xviii.

  6. Thank you Rob Heferen General Manager Australia’s Future Tax System Review Secretariat

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