Further work “to reduce tax burden”
Treasurer Scott Morrison and his state and territory counterparts have agreed to look at further modelling of the tax system.
Morrison said all the Treasurers at today’s meeting in Sydney accepted there needs to be a growth-friendly tax system.
“From the Commonwealth perspective, the only models that we will be looking at will be ones that don’t lead to an increase in the tax burden in this country,” Morrison told reporters after the meeting.
"Quick break in the Treasurers COAG meeting. Have to say one of the most productive meetings I've ever been in. Well done @ScottMorrisonMP"
"— Tom Koutsantonis MP (@TKoutsantonisMP) December 10, 2015"
Morrison said the objective of any future changes to the tax system is to ensure there’s a reduction in the overall tax burden on taxpayers.
He said there was certainly a different set of views around the room, with the states setting out their challenges and the Commonwealth setting out its own.
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“But the one thing we’re all focused on is growth,” he said.
“If you can address economic growth, whether it’s through the innovation statement or the changes to the tax system or our $50 billion national infrastructure plan … it’s growth that counts, because that’s what delivers jobs and that’s what grows revenue, not jacking up taxes.”
The meeting also discussed competition law, following the Turnbull government’s recent response to the Harper review, and foreign investment.
The prime minister, premiers and chief ministers will meet tomorrow for the Council of Australian Governments.
-AAP
