The Real Estate Institute of Australia (REIA) has called on the Government to commit to substantial tax reform following the release today of the Treasury’s Intergenerational Report – Australia in 2055.
REIA CEO, Amanda Lynch says, “The Report clearly identifies the increasing expenditure in health and education and that this is simply not sustainable under existing policy settings.”
“If policies, including taxation arrangements remain unchanged, then we know from this report that it will result in an ever widening gap between expenditure and revenue. Yet, the Report also indicates that under the Government’s proposed policy settings, Australia’s underlying cash balance can be brought into surplus around 2019-20.”
