Tax Reform Summit: Brendan Rynne analysis

Tax Reform Summit: Brendan Rynne analysis

Brendan Rynne, Chief Economist, KPMG Australia, provides summary analysis of the 'Individual tax and the welfare system' roundtable from Day 2 of the 2015 AFR Tax Reform Summit.

Partner, Chief Economist

KPMG Australia

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Key insights

  • Our progressive tax arrangements are like the ‘Battle of Britain’ – Never was so much owed by so many to so few.
  • Taxpayers are using negative gearing on property as the primary method to reduce their tax exposure as the current tax arrangements provides a high incentive to do so – if it was less extreme then possibly the tax up of property as an investment vehicle might be more moderate.
  • The youth are really the ones losing out in terms of government allowances.

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