- CPA Australia proposes a five-step plan for GST reform to broaden the tax base and reduce reliance on personal income tax
- The plan includes achieving consensus among state and territory governments
- It involves identifying a broadened tax base and assessing the impact on society
- Developing rebalanced tax settings and designing a thorough implementation program are part of the plan
- The reform aims to address GST’s structural weaknesses and support economic growth
- OECD statistics show Australia’s reliance on income tax is unsustainably high
- The reform will consider the impact on lower-income households and pensioners
- Broad public and political support is deemed essential for the reform’s success
- The proposed reform will be detailed in a submission to the Treasury
- CPA Australia supports a productivity roundtable announced by Prime Minister Anthony Albanese for August 2025
Source: theaccountant-online.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
