Costello must tackle reform.

Australasian Business Intelligence, June, 2003

Jun 04, 2003 (The Australian Financial Review - ABIX via COMTEX)

Treasurer Peter Costello's leadership test must be to redraft Australian taxation legislation. The Board of Taxation has signalled that 10,000 pages of tax legislation needs to be refocused on how tax is collected. This project requires the high-level political leadership that only Costello can provide. Adam Smith's treatise "The Wealth of Nations" outlined the case for simplifying tax rules: taxes need to be fair, well-organised to collect, firm and easy to pay. The University of New South Wales's Atax Centre made another compelling case in 1999, when it estimated that unmerited deductions cost $A10 billion annually.

Publication Date: 5 June 2003

AUSTRALIA.  DEPT OF THE...

            
        
    
    	    
                
                
	

		

					 
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