Australia has a relatively high tax rate compared to some other countries. The country’s overall tax burden, which includes taxes on income, consumption, and wealth, is among the highest in the developed world. In 2019, the overall tax burden in Australia was 33.7% of gross domestic product (GDP), which was higher than the average for OECD countries of 28.9% of GDP. However, Australia’s tax system is progressive, meaning that people with higher incomes are generally subject to higher tax rates. In addition, the country offers various tax incentives and exemptions that can reduce the tax burden for some individuals and businesses.
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