When we released our Federal Budget Review for 2015-16, we noted that among the changes in tax there was little in the way of ‘big ticket’ tax reform, and speculated that this was because the Government was leaving this for its much anticipated Tax Reform White Paper process. Now that this has fallen by the wayside, along with addressing more of the underlying structural aspects of the tax system in Australia, and some of the larger elephants in the room such as the rate and