The Henry Review’s Tax on Financial Services: An Alternative Approach for Australia

In 2008, the Australian government commissioned a review panel chaired by Ken Henry to review the current tax system. The report drawn up by that panel, informally known as the “Henry Tax Review”, is intended to guide tax system reforms over the next ten to twenty years. In this article, the author discusses the remarkable findings of the panel as regards GST in general and taxation of financial services in particular.