Treasurer Rules Out GST Hike Despite IMF Push, Focuses on Other Tax Reforms

• Treasurer Jim Chalmers refuses to increase the GST rate, despite IMF recommendations.
• The IMF praised Australia’s economic management but urged tax and expenditure reforms, including raising the GST and removing exemptions like fresh food.
• The government is considering changes to the capital gains tax discount for property investors, but no commitment has been made.
• Unions support reducing the capital gains tax discount, while the Opposition opposes it, citing concerns about housing supply.
• The IMF also called for a comprehensive strategy to address housing supply constraints.

Source: canberratimes.com.au

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.

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