GST rethink: Why Australia needs reform now

The goods and services tax (GST) has been a fulcrum in Australia’s tax system since 2000. Designed to be a broad-based, 10 per cent consumption tax, the GST, together with new wine equalisation and luxury car taxes, was meant to replace the sales tax system.

The GST was also designed as a mechanism for the federal government to transfer growing levels of guaranteed funds to state and territory governments.

However, the GST has been beset by complexities, and the economic landscape is very different now compared to 25 years ago. A quarter of a century after its introduction, there are plenty of eyes on the GST as the answer to some of the tax system’s inefficiencies and inequities.

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