Australia to 'rethink taxation from the ground up'; a 'reset on tax policy'

The Sydney Morning Herald reports they've been told all work has been stopped on the tax reform proposals begun by the previous Prime Minister

"From what I have been told, the entire process has been brought to a halt because we 'have to rethink taxation from the ground up' and it's a "reset on tax policy'. They are the words used by the Prime Minister's office," Fairfax Media was told.

More detail at that link (above), but at this stage there is no detail on what will take its place, though it will be something, obviously.

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ps. For the currency at present, the focus is still on the follow-through from the China data earlier ... not on vague tax reform proposals ....