The Coalition's version of the Henry Tax Review would have you think we pay far more in income tax than other countries and far more company tax. On income tax, it's over-egged the pudding.

Yes, income and company tax do make up a larger proportion of our measured tax take than other OECD nations, but that's partly because the 'tax take' of the others is boosted by including so-called social security contributions. These superannuation-like contributions typically account for one quarter and up to 40 per cent of total taxation in the countries that have them. We don't. We have super instead, which isn't counted in our tax base. Comparing like with like (which the Treasury doesn't do) our tax system probably isn't that much out of whack with everyone elses.

The Treasury's big contribution isn't to tell us we pay too little GST (that's been common knowledge for a while) it's to tell us that the tax concessions we offer for savings are a mess. The safest, bank deposits, get no concession, negatively geared property gets a lot and compulsory super gets even more. Labor put the whole thing up for discussion at a tax summit in 2011. It invited the Coalition, which didn't attend, labelling it a stunt.

Now, many of what were Labor's problems are its problems. It wants us to help it out. We should. While our tax system is nowhere near as bad as misleading international comparisons suggest, parts of it are a mess.