Jul 3, 2026 – 12.58pmAustralia has been singled out by the Organisation for Economic Co-operation and Development for having an over reliance on the taxation of wages and salaries to fund the budget, which economists said was unlikely to change despite Treasurer Jim Chalmers’ $250-a-year tax cut for workers.Australia collected 62.1 per cent of its tax revenue from personal income and corporate profits in 2023, according to the latest figures from the Paris-based OECD – well above the 36.4 per cent average for advanced economies.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
OECD singles out Australia’s over-reliance on income tax
Despite Labor’s $250-a-year tax offset for workers, personal income tax in Australia is projected to climb to its highest share of the economy since the mid-1980s.
106 words~1 min read
