The Australian income tax paid has dropped to its lowest level in nearly four decades as a share of gross domestic product (GDP), according to the Bureau of Statistics.
Tax cuts and the global financial crisis were responsible for the AUS$10 billion (£6 billion) fall in Australian income tax payments in 2008-09, the Age reported.
Total tax take plunged to the lowest share of GDP for 15 years, the bureau added.
Most of the fall was in company tax and stamp duties on Australian property sales, with the majority of taxpayers seeing their biggest savings on Australian income tax.
Overall governments ran a combined deficit of AUS$31 billion in cash terms, compared to a AUS$20 billion surplus last year.
Australian income tax returns could be made simpler after the Henry review is completed as there are proposals for forms to be pre-filled, the Australian reported this week.
Posted by Steve Douglas
Tax cuts and the global financial crisis were responsible for the AUS$10 billion (£6 billion) fall in Australian income tax payments in 2008-09, the Age reported.
Total tax take plunged to the lowest share of GDP for 15 years, the bureau added.
Most of the fall was in company tax and stamp duties on Australian property sales, with the majority of taxpayers seeing their biggest savings on Australian income tax.
Overall governments ran a combined deficit of AUS$31 billion in cash terms, compared to a AUS$20 billion surplus last year.
Australian income tax returns could be made simpler after the Henry review is completed as there are proposals for forms to be pre-filled, the Australian reported this week.
Posted by Steve Douglas
