GST not on the agenda

The Gillard government has pushed the GST off the government's tax summit agenda.This is despite business and state calls for its inclusion and new research into the inefficiency of alternative taxes. "There is absolutely no way in the world that the government is going to be revisiting rate of GST questions," she said.

The decision to quarantine the issue comes despite last year's promise to key independents, who helped return Labor to power, of a wide-ranging discussion of tax reforms.

Australian Chamber of Commerce and Industry chief executive Peter Anderson said the same omission at the tax summit would not only compromise federal tax reform but the competitiveness of state economies.

The Business Council of Australia has been among those to argue for a higher rate of GST and the abolition of less efficient, more onerous state taxes such as stamp duty. To read the full article click here.

For up to date information on Australian GST Legislation try TimeBase's GST Point-in-Time product for free!