The Commonwealth's taxing power and its limits - are we there yet?

The Commonwealth's use of its taxing power affects not only Commonwealth, state and territory governments, commerce and industry but Australia's future. Consideration of the constitutionality of the exercise of that power by the Commonwealth is important; some would say essential. Given that there are limits on the exercise of the taxing power, such a review will often provoke the question - have the limits of the power been reached? To understand the complex issues raised by the Commonwealth's use of its taxing power, it is necessary to identify the taxing power and to seek to identify its limits. Only then is it appropriate to review the Commonwealth's use of the power and to ask if the limits of the power have been reached and, if so, in what respects.