The Grattan Institute proposes broadening the GST and raising it from 10 to 15 per cent to raise an extra $76 billion a year, with $58 billion going to income tax cuts and welfare for low-income households and the rest to state and territory budgets. It also urges the Commonwealth to reverse a 2018 change to GST revenue distribution, which benefits Western Australia. ACT Treasurer Chris Steel welcomed the report but did not endorse a GST increase, saying any tax changes must protect household budgets. ACT Liberals and Greens opposed the rise: shadow treasurer Ed Cocks said tax revenue is already growing and that ACT tax revenue would rise more than 44 per cent between 2024-25 and 2029-30, while Greens leader Jo Clay argued that regressive taxes like the GST would hit essentials such as fresh food and called for taxes on wealth, windfall profits and polluters instead.
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AUD/USD
• NeutralRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/20/2026 | 0.70040 |
| Change that session | +0.35% |
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