National Tax Reform Summit

The National Tax Reform Summit was held in Canberra on October 3-5 1996. The Summit was presented with a number of tax reform options. The Summit also formulated a list of criteria for a good tax system. The Debit Tax Council was invited to participate in the Tax Reform Summit and to present a submission for consideration. The Debit Tax complied with all the "Criteria For A Good Tax System" as agreed by the National Tax Summit 1996. Tax Summit Options (1) P.A.Y.E. Pay As You Earn - System Extension (2) V.A.T. Value Added Tax (3) W.S.T. Wholesale Sales Tax (4) C.T.R. Consumption Tax Reform (5) P.A.Y.B. Pay As You Buy (6) P.A.Y.S. Pay As You Spend (7) P.A.Y.G. Pay As You Go (8) G.S.T. Goods and Services Tax (9) Debit Tax The National Debit Tax The Criteria For A Good Tax System (A) The Tax must be simple. (B) It must have a low compliance cost. (C) It must be transparent (ie. no hidden taxes). (D) It must not be avoidable. (E) It must be adequate (raise sufficient revenue). (F) It must be socially equable. (G) It must be efficient. To learn more or to offer comments about the Debit Tax - Write to this address Return to The Debit Tax Home Page © 1996 - 2001 Gray&Severn