How highly taxed are we compared to other countries?
While many of us may feel that we’re already paying enough to the taxman, recent Organisation for Economic Co-operation and Development (OECD) data reveals that Australia is in fact the fifth-lowest taxed nation of the 34 OECD member countries. (Statistics are taken from 2012 or the latest available year.)
Australian total tax revenue was measured by the OECD at 26.5% of national GDP. The USA is rated third-lowest taxed nation at 24.3%. The lowest taxed is Mexico, at 19.6%. Higher taxed countries include Canada (30.7%) and Britain (35.2%), but the highest taxed OECD member country is Denmark, at 48.0% of that nation’s GDP. The average across all OECD countries is 34.6%.