Coalition must come clean on plans for GST

Man O' Lies!

There is almost unanimous agreement among mainstream economists, tax experts, Treasury, business and even politicians albeit very quietly that the Goods and Services Tax will have to be increased and broadened.We can leave aside the flat earth Hayekians and their prescriptions to abolish most taxes and almost all Government spending. At the moment, the GST is at the rate of 10% and applies to about 60% of all transactions. Fresh food, health, education and childcare are among the exemptions, costing about $15 billion in “lost” revenue.The current consumption wariness among Australia’s workers means that the GST collections have slowed over the last few years.

via Coalition must come clean on plans for GST.

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