October Forum to consider GST increase
The October Tax Forum, convening next week, will consider increasing the base rate of GST charges.
The Corporate Tax Association of Australia (CTA), who represents the country’s largest company’s tax interests, says the GST base should be broadened incorporating tax on fresh food, health and education services.
Even though the organisation is also calling for “inefficient” state taxes like stamp duty to be abolished, they acknowledge the move to broaden the GST will be politically unpopular.
"It would still involve some political risks and that's why both the major parties have run a mile from the proposal," said CTA executive director Frank Drenth to ABC News.
"The problem though is that that leaves income taxes, both personal income tax and corporate company tax, having to do all the heavy lifting."