The NSW Government has commissioned a review of the State’s entire taxation system.
A tax economist, Neil Warren, and the Independent Pricing and Regulatory Tribunal will conduct the review.
The terms of reference for the review are:
- Given the existing GST agreement, assess the impact of the current system of Commonwealth-State fiscal relations on the NSW revenue mix and the ability of NSW to fund essential public services.
- Compare the efficiency of the taxes available to NSW and the Commonwealth.
- Review the existing NSW tax system according to standard taxation principles (that is, efficiency, equity, simplicity and transparency) as well as the interstate competitiveness of NSW taxes.
- Recommend options to improve the efficiency, equity, interstate competiveness, simplicity and transparency of the NSW tax system, given the taxes available to it.
Further detail on the background to the review is available here.
At this stage no discussion paper has been released, although one is expected in the near future. The NSW Urban Taskforce will be making a submission to the review. If any members wish to contribute to this submission please contact Aaron Gadiel on 9238 3955 or by e-mail.