Why we need tax reform
Every Australian wants to leave the next generation better off.
But when I talk to young Australians – they don’t feel they'll be better off than their parents.
As our population ages, the tax burden is falling on a shrinking pool of younger working people. These are the same young people who are saddled with high housing costs and student debt.
The system is completely unsustainable.
Tax is central to this and many of the big issues we're facing right now. We can't afford to ignore reform any more.
My Tax Green Paper
I've conducted roundtables with experts and stakeholders, sought community feedback, and engaged on this issue with more than 1,300 people in Wentworth.
I’ve used this to develop my Tax Green Paper. Of the 1,200 MPs that have sat in parliament since federation, this is the first time a non-government MP has taken on such a task.
My Tax Green Paper sets out the challenges that tax reform should address, how experts and stakeholders suggest these goals can be achieved, and the process we need for reform in the next parliament.
The paper sets out six reform priorities:
- Lower income taxes on working Australians.
- Rebalance tax settings in favour of home ownership.
- Boost productivity and growth through incentives for innovation and business investment.
- Stabilise our revenue base so that it can endure changes to demographics and consumption patterns.
- Support the energy transition through better tax settings.
- Implement institutional reform, including a Tax Reform Commission.
The Paper identifies a possible process for significant tax reform in the next parliament.
Download my Tax Green Paper here
Share your feedback on the Green Paper here
Watch and listen
- Sky News - Allegra Spender push to end bracket creep (link)
- ABC Insiders – Allegra talks tax and future generations with David Speers (link)
- ABC RN Breakfast – 'Our tax system is not set up for the future': Allegra Spender (link)
- Sky News – ‘Profound’ impact on young Australians without tax reform push, Spender warns (link)
Read more
- Australian Financial Review - Teals push to index income tax thresholds to inflation (link)
- Australian Financial Review – There's a logic to Teal MPs tax reform push: The AFR View (link)
- The Daily Telegraph – ‘Big picture’ tax reform call (link)
- Canberra Times – Tax on the front line as calls grow for bolder reform (link)
- Sydney Morning Herald – Spender to hold own tax summit (link)