Parents sending their children to some of Australia's most expensive private schools could be investigated by the Australian Tax Office for paying tuition fees from off-shore bank accounts.

“The tax cuts enacted since 2000 have been enormously costly and have mostly benefited those who are least in need of help,” said Steve Wamhoff, director of federal policy at ITEP and the lead author of the analysis. “For example, the richest 1 percent received more benefits than the bottom 60 percent. It’s worth asking whether this is the result most Americans wanted from their lawmakers.”