LatestGoods & Service Tax (GST) 4 July 2026
Australia's Tax Reliance
The OECD has highlighted Australia's over-reliance on income tax, with the country's 10 per cent goods and services tax being significantly lower than many other countries, including New Zealand and European nations, which could lead to a need for reform to ensure a more balanced tax system and reduce the burden on individuals, Australia's tax system is under scrutiny and may need to be adjusted to be more in line with other developed countries
The Organisation for Economic Co-operation and Development (OECD) has pointed out that Australia's goods and services tax is low compared to other countries.
- Australia's 10 per cent goods and services tax is lower than many other countries, including New Zealand and European nations.
- The OECD's findings suggest that Australia's tax system is not as balanced as it could be, with a *heavy reliance on income tax*, which may need to be reformed to reduce the burden on individuals
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