We should be able to enjoy the collective peace of mind that there is enough funding for the services we need, such as quality education, health, aged care, childcare and a decent income support system. A good government would make sure our tax system is up to the task by removing loopholes so that the wealthy and corporations give back fairly to our society. One of the big worries for older people is whether they can afford health and aged care. Instead of relying on user charges such as hefty aged care deposits, governments should raise the revenue they need fairly in order to guarantee those services to all who need them, including by reducing unaffordable tax breaks for wealthy retirees.
ACOSS economics and tax policy work is concentrated upon policies that will strengthen economic development and growth, meaning that people on low incomes benefit from more jobs and improved incomes. Another major focus is the reform of the taxation system in order to raise public revenue for the benefits and services people need.
We have participated in reviews of the tax and transfer system through the development of tax reform options; participation in tax reform working and reference groups; and submissions to the tax reform process.
ACOSS analysed the impact of the Government’s three-stage income tax package on public revenues, the future of essential services, and jobs and income growth. These briefing papers can be found under ACOSS Economics and Tax publications.