Towards a stronger, smarter and fairer tax system

A strong, smart and fair tax system is central to maintaining the strength and resilience of Australia's economy and delivering the quality public services that Australians expect and deserve. It underpins the Government's ambition to spread opportunity to every Australian and supports the delivery of enduring reforms such as the Government's National Plan for School Improvement and DisabilityCare Australia - our new National Disability Insurance Scheme.

The world we live in is changing rapidly and we need to make sure that Australia's tax system keeps up with these changes. By keeping pace, our tax system will continue to support improvements in our standard of living and help us make the most of the challenges and opportunities in the 21st century, including those of a transforming economy, evolving international business practices, an ageing population, and the unfolding of the Asian century.

Continuing the process of tax reform is key to being able to ensure that, as a community, we are well placed to meet these challenges and opportunities. That is why the Government has pursued tough reforms such as introducing the Minerals Resource Rent Tax; reforming the personal tax system to provide a fairer reward for effort and lift workforce participation; improving the fairness and sustainability of the superannuation system; and strengthening the integrity of the corporate tax base in a modern economy.

In this Budget, we are rolling out the next wave of reforms to ensure the tax system supports a stronger, smarter and fairer Australia, including measures that respond to threats to the corporate tax base, deliver greater fairness in the superannuation and personal tax systems, and provide a secure funding source for a better deal for Australians with disability.