Henry Future Tax system review

[xXNovaxX]

Just wondering, for Micro economic reforms

Does anyone know of any OUTCOMES, conclusions, suggestions of the review? I know its been a year long review, and it finishes December, but when i checked the website, there's too much information, a lot isn't relevant for VCE economics.

So if anyone has some understanding, could they maybe provide dot points, and explanations? Or links to newspaper articles. 

[xXNovaxX]

....bump.

[Craxe]

To be honest, I have no idea about the Sr. Henry review. To the best of my knowledge, the proposals will revolve around a simplification of the taxation system...which is pretty broad.

Honestly, can't see why you need it though? There have been other taxation reforms in previous years, including cuts in the PAYG (incentivism), capital gains (promoting investment and expansion) and company tax (improving profitability -> drop in closures) which are far easier to understand.

What type of question are you thinking about? Future microeconomic reform to improve efficiency?

[xXNovaxX]

A reply! LOL.

Well it can count as a MER (Micro eco reform), and my book only goes up to 2004-06, and its all tax xhanges which occure din that time frame,

company at 30%
PAYG cuts
Capital gains etc

I  think it would be wiser to have something more up to date, especially since it is a major reform. Liek I would still use the ones I mention above, but just to add a bit more

[Craxe]

The problem is that it is not a reform. It may lead to reform in the future - but in itself, it is not an example of reform. You could throw in a simple phrase at the end along the lines of:

'The Sir. Henry review due for release in December 09' may lead to future reform of taxation, with suggestions in the media implicating that the review will encourage the government to simplify the system. Any such simplification will improve the ability of firms to adapt (dynamic).'

Those three examples of tax cuts are more than enough to gain 3-4 marks, and they are fairly recent. But you are right... this kind of depth could ensure maximum marks.

[xXNovaxX]

ty =) perfect