Australians Warm toward GST Rate Increase
- Apr 15, 2015 | Gail Cole
Australians are warming toward the idea of a Goods & Services Tax (GST) rate increase. The current rate is 10%.
Increasing the GST has been on and off the table for years. Dr. Ken Henry, who served as Secretary of the Treasury from 2001-2011, has repeatedly said that a GST hike is needed to “help broaden and stabilise the tax base.” In March 2014, the idea resurfaced in response to budget cuts in health and education. Yet the public has not supported the idea.
Now, according to a Fairfax Ipsos poll, 37% of 1,404 respondents are in favor of a GST rate increase, and 59% are opposed to it. This is a 7-point swing since May 2014.
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