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Tax reform on the agenda for WA

State Treasurer Eric Ripper has flagged tax cuts in the May State Budget on the back of Western Australia’s largest ever half-year budget surplus. The government said the public was entitled to see a dividend from the operating surplus of $1.04 billion, but it had yet to decide on how the tax cuts would apply. At the same time, Federal Treasurer Peter Costello has announced a wide ranging inquiry into Australia’s tax system through a review of how national, state and local government taxes compare internationally. The inquiry will benchmark the nation’s tax system against similar overseas countries and is the first of its kind to be undertaken in Australia.

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