The combination of fiscal and monetary support has worked and the development of vaccines in record time has allowed our society to return to more normal functioning earlier than was thought possible. Australians have also proven to be resilient and have adapted to the changed circumstances. As a result of these developments, unemployment has come down quickly.
If one adds revenues from Corporation Profits tax to this, the share of this group of taxes rises to around 30 per cent of total tax revenue. This would be around 4 times higher than the share of this same group of taxes two decades earlier.