| tax 2003-02-04 |
| AUSTRALIA has been confirmed as one of the highest-taxing countries in the world, as new research also shows more Australians are paying higher rates of income tax.
Australia is the sixth-highest taxing nation, ahead of countries including the United States, United Kingdom, Japan, Singapore and Hong Kong, according to a report by KPMG. In terms of personal income tax, Australia is also the fourth-highest taxing nation in the developed world. The survey shows nearly one in three Australians will pay the second-highest rate of income tax next year. The big income tax cuts promised by the Howard Government with the start of the new tax system and the GST resulted in merely a "temporary drop". |
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