SOCIOECONOMIC ANALYSES OF AUSTRALIAN TAX SYSTEM

Abstract

In this study, the socio-economic aspects of Australia's tax system have been examined and its role in the development of the country has been tried to be revealed.
Australia, with an area of almost the European continent, is a country with a multi-cultural structure and a very high quality of life. For the last 20 years, the Australian economy has seen continuous and steady growth, low unemployment, controlled inflation, very low public debt and a strong and balanced financial system. With high employment, low unemployment rates, uninterrupted growth for 27 years and per capita GDP of $ 53,794 according to 2018 data, it is a country with high welfare.
Australia has a systematic tax structure with a direct tax weighted tax base. It has made various arrangements to shift the tax mix from direct (company and individual) and inefficient taxes (including property stamp duty) to Goods and Services Tax and land taxes.
With the tax regulations to be made, Australia aims to reduce the tax rates. In this way, it is foreseen that the tax system will be further advanced.
As a result, from a socio-economic perspective, Australia is a developed country that can manage its tax system properly.