Australia: Company tax payments down almost 40%

David Uren from The Australian, as quoted by Mark the Graph:

Last week’s national accounts show company tax payments have fallen from an all-time peak of 6.2 per cent of gross domestic product in 2007 as Peter Costello delivered his last budget, to just 3.8 per cent in the June quarter. This is the lowest share since September 1996, when Costello delivered his first budget. It is less than during the global financial crisis and erodes all the gains in corporate taxation tapped by both governments to finance personal tax cuts, increased family benefits, higher pensions, greater education spending and much more during the past 16 years. No wonder the budget is in deficit.

View some great charts from the National Accounts at Mark the Graph: Tax chartacular.