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Australia's tax-to-GDP ratio lags OECD average, impacting household wealth and economic productivity.
Australia's tax-to-GDP ratio is below the OECD average at just under 30%, translating to a potential $12,000 extra per household if it matched the OECD average.
Despite this, the country's general government net operating balance has decreased to $18.9 billion, with net debt reaching 31.7% of GDP.
The Australian Industry Group warns that the tax burden is harming economic productivity, calling for corporate tax cuts and system simplification to boost investment and employment.
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La relación entre impuestos y PIB de Australia está por debajo del promedio de la OCDE, lo que afecta la riqueza de los hogares y la productividad económica.