A new report predicts that the total amount of revenue collected by federal and state governments in Australia will reach a 23-year high this year. Australian households are currently devoting up to 45% of their income to taxes, which is the highest tax take since 2000-01.
Australia n households are devoting up to 45 per cent of their income to taxes, according to a new report predicting the total amount of revenue collected by federal and state governments will hit a 23-year high this year. The figure would represent the highest tax take since 2000-01, when taxes amounted to a record 30.3 per cent of GDP.
The strong increase in tax revenue over the past 12 months meant the federal and state governments collected $29,700 in tax for every adult and child this financial year. “Governments are not focused on the overall tax burden and are not attempting to control it,” CIS senior fellow Robert Carling said
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