The rate of GST in Australia is currently 10%, however the possibility of raising the rate has been under consideration for some time. An increase in the GST rate could be used to fund reductions in tax on labor and in corporation tax, helping to maintain a competitive economy. Also, the budget deficit has been increasing and additional government revenue would be useful to stabilize the public finances.
Related Posts
US, Australia sign customs mutual assistance agreement
June 29, 2026
US Customs and Border Protection, on behalf of the US, in a release on 25 June 2026, announced that it signed a Customs Mutual Assistance Agreement with Australia in Brussels, Belgium. The CMAA is a bilateral agreement that enables both countries
Read More
Australia: ATO updates guidance on taxation of permanent establishments
June 29, 2026
The Australian Taxation Office (ATO) updated its guidance on the taxation of permanent establishments (PEs) on 24 June 2026, outlining when enterprises may be subject to tax in Australia or overseas under Australia's double tax agreements
Read More
Australia: ATO issues new guidance on security arrangements for fiscally transparent entities
June 29, 2026
The Australian Taxation Office (ATO) has issued new guidance under its Private Capital Program on 26 June 2026, outlining security arrangements and evidentiary requirements for fiscally transparent entities to support compliance by large
Read MoreAustralia: ATO announces GIC, SIC rates for Q1 2026-27
June 26, 2026
The Australian Taxation Office (ATO) announced the general interest charge (GIC) rates and shortfall interest charge (SIC) rates for the fourth quarter of the 2026-27 income year on 5 June 2026. For the quarter commencing on 1 July 2026, the GIC
Read More
Australia: ATO revises guidance on mutual agreement procedure requests
June 26, 2026
The Australian Taxation Office (ATO) has updated its guidance on 19 June 2026 regarding requests for mutual agreement procedures (MAPs) to resolve cross-border tax disputes arising from alleged violations of double taxation agreements (DTAs). This
Read MoreAustralia raises small business GGT threshold, unveils startup tax concession plans
June 23, 2026
The Australian government has announced additional implementation details for its tax reform package on 18 June 2026 following an extensive first phase of post-Budget consultations. The package includes a significant expansion of small business
Read More