OECD tells Australia to raise GST rate to fund corporate tax cut
- 28 February 2013 | Richard Asquith
The Organisation for Economic Co-operation and Development has recommended that Australia raise its Goods & Sales Tax rate above the current 10% rate. Such a rise would fund a reduction in the relatively high 30% corporation tax rate.
In 2012, an attempt to cut the corporation tax rate by raising mineral extraction taxes was blocked by the Labor Party.