10 May 2009

Tax system under scrutiny

6:58 am on 10 May 2009

The country's tax system is to be reviewed by a working group.

The Tax Working Group, made up of academic experts and members of the financial sector, will scrutinise all aspects of the tax system and examine whether the Government's goal of a 30% top rate for personal and company tax is achievable.

Revenue Minister Peter Dunne says the working group will consider the Government's medium-term fiscal position, the advantages and disadvantages of possible reform options and whether any should be dismissed as unworkable.

The group's chair, Dean of Victoria University's Faculty of Commerce and Administration Bob Buckle, says the team will look at the full range of tax options, to consider what might be the most appropriate to enhance productivity and efficiency.

A conference will be held by the end of the year, and information gathered by the working group will be taken into account for the 2010 Budget.