Probably? Henry was also considering a turnover tax, which he alluded to in one of his post review speeches?
Not too dissimilar to an expenditure tax.
However, I favor a stand alone unavoidable expenditure tax for any number of reasons.
The first because it would be unavoidable, and indeed, completely repair the current structural deficit and forever end the destiny of demography.
Collected in a fee free paradigm via the banking sector; would return an averaged 7% to the averaged bottom line of all domestic business.
At 4.8% expenditure tax would harvest far more revenue than now. (A win/win outcome.)
Moreover, this single tax would collect enough revenue, to enable virtually all other revenue streams to be jettisoned, including things like payroll tax, the ubiquitous cascading GST, fuel excise, PAYE and PAYG!? Adding as much as 30% (averaged) to the local bottom line!
The end of the hated and time consuming GST could be compensated for by some different funding models, like the total federal funding for public education and health, all of which could be means tested.
Easy enough, given most households would be as much as 25% better off; meaning, a 15% noncontributory super would become immediately available!
Finally the tax rate could be microscopically varied region by region, to alone control all inflation or stagnation.
Meaning, interest rates could be lowered and left, to turbocharge, the non mining economy!
A brand new franchised peoples' bank, would almost entirely negate any harm, creating alternative, and vastly more productive career pathways, for those displaced by the reform/changes; the only real downside.
Those that claim they don't see how, don't see the sheer size of current avoidance, or the literal trillions being squirreled away in tax havens?
Rhrosty.

Bryan Kavanagh,
your article makes great sense, though in my opinion the Henry tax review is a) too conservative in its negative prognostications about the future; the drags on the economy, as well as its inherent contradictions, will surely be far more dire than it forecasts. b) The primary tax bases it recommends are thus commensurately conservative; as wealth disparity continues to grow, consumerism will increasingly decay as an engine of growth (we'll no longer be able to feed off ourselves) and luxury goods shall have to be taxed more heavily.
In my view, neither side of politics is interested in the review because of its social welfare components, which they are increasingly (and illogically factoring out of the agenda. Though Labor currently is testing the water for a resurgent democratic capitalism, they've lost the stomach for it and neo-liberalism seems unstoppable.
Clearly the tax base has to be doubled and tripled, whereas manically cutting spending, without raising taxes, will cripple the economy.

AUTHERS/QUOTE..<<..PMG-Econtech modelled Australian taxes and found the existing 40% petroleum resource rent tax had no welfare loss for each additional dollar of revenue raised, none at all; therefore, in attempting to "sell" the RSPT mining tax, the Rudd government failed to educate Australians that this would simply bring mining into line with the petroleum tax which has proved in application to have zero social cost.

At the other end of the KPMG-Econtech modelling scale were royalties and crude oil excises: these show a welfare loss of 70 cents for each additional dollar collected, and are the mining taxes to which prime minister Abbott and treasurer Hockey are wedded once the MRRT, an admittedly poor tax itself, is removed.>>

who is kpmg?
e-con o teq?

thing is a simple tranaction tax is all we need
to buy back the fed..[look at what the yanki fed has done[endebited everyone]..BUT ONLY BY LENDING INTO EXISTANCE..MONEY THAT NEVER WAS.

WELL IF GOVT DID THAT DIRECT
WE WOULDNT ALL BE GOING BROKE..TRYING to pay of the intrest via oUR TAXES

TAX TRANACTIONS
or take back the fed
govt is created under the hard constituted RULE..115..a state shall not coin money/AND THE FED IS A DEFACTO STATE[A PERSON/under the act]
govt needs return back to coin money[at its uninflated values [caused by the fed vboom/bust cycles]

cause..all money is lent..into existence/but the intrest we pay..on it was defaulted by someone else..[see that the fed creates money/but not the intrest

but i explained it so many times/before
but govts wont stop this war on the taxpayer/that deflasted the silver gold values from our coin[debasement..is HIGH TREASON/RETURN THE FACE VALUES OF THE COIN..BACK TO TRUE [UNDEFLATED VALUES]..IE add two zeros to coin face.

Any tax review which does not explain why a transaction tax should not be immediately implemented is not to be taken seriously.

A transaction tax would automate the entire tax system. It is simple, intrinsically progressive and could not be broader.

It is inestimable the amount of currently untaxed business activity it would scoop. All the current disincentives to business would be removed in one swoop. All the lost productivity in tax avoidance and evasion erased.

What is the objection but that the current untaxed buying and selling of shares and derivatives would be caught by a transaction tax. Today, the global derivative market is running at 10 times global GDP and threatening to make the GFC look like a small correction.

The need for a transaction tax is urgent and inevitable.

Transaction taxes punish the poor, and those who don't know that KPMG-Econtech modelled the Henry Tax Review recommendations mustn't have seen "Australia's Future Tax System", a thoroughgoing two-year review of our faltering tax regime. Try Googling AFTS before pushing a transaction tax.

no shhhh it..SAYS THE LITTLE Used BLIND FREddy id
http://forum.onlineopinion.com.au/user.asp?id=49216

kpmg dont like the transaction tax
http://www.google.com.au/search?q=KPMG-SHARE+TRADING

CAUSE THEY BEEN INSIDER TRAding tax free for ever
YOU CANT TRUst wolves..reaping it in big time ON THE CURRENT tax avoidance scam

freDDY..MATE YOUR LIKE QUOTING KPNG..ITS LIE A RED FLAG
how goes your posting histry..two posts THIS YEAR
4 POSTS THE YEAR BEFORE..8 YEAR BEFOre thaT?

AND TO SAY WHAT..THE WORLDS BIGGEST FRONT RUNNING ..DAY TRADER TRADING TRILlions of dollars of transactions cost free..dont like IT

FREDDY..THATS WHY WE LOVE IT
GET IT?

blind freddy can see the bleeding obvious
dont tax us..here tax these guys..not us..

its pathetic
time yA PAID SOME TAX..UNLIKE you leeches....whilE HEAPING EVER MORE Burden..on anyone..but you ..

and you get the TAX-free Deductible lunch.. ON US yet again
your one POST REVEALS MUCH..THEY LOOT AND PLUNDER YOU TOO/UNLESS YOUR just a computer troll..or paID SHILL..PAY THE RENT MATE.