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NewsMEDIA RELEASE: OLDER AUSTRALIANS OPEN-MINDED ABOUT A CHANGE TO THE GST: 2 NOVEMBER 2015
MEDIA RELEASE: OLDER AUSTRALIANS OPEN-MINDED ABOUT A CHANGE TO THE GST: 2 NOVEMBER 2015

MEDIA RELEASE: OLDER AUSTRALIANS OPEN-MINDED ABOUT A CHANGE TO THE GST: 2 NOVEMBER 2015

The news is abuzz with talk of increasing the GST to 15% and close to one in two older Australians agree it is time for reform, according to a survey.

While Cabinet Secretary Arthur Sinodinos is concerned some states may be politically hostile to change the feeling is not necessarily representative in the community.

Out of 20,000 over-50’s surveyed by the FiftyUp Club in recent months:

·      17% believe the rates should be increased above 10%;

·      17% believe the base should be broadened to include more items that are currently exempt; and

·      Another 12% would like to broaden the base and increase the rate.

However, another 46% do not want a change in the GST at all. These are the group of older Australian’s that the government needs to have a conversation with.

Such a fundamental change to the tax system may require other trade-offs in the tax system to compensate Australians.

One change many older Australians would like to see is a change to costly tax concessions on superannuation, which have broadly benefitted higher income earners.

FiftyUp Club research shows almost half of the over-50’s think tax concessions for people with large super balances should be wound back.

“The GST debate needs to be had openly and honestly with the people and while the FiftyUp Club survey indicates older Australians are even split on the need for any change a significant number are open to conversation,” said FiftyUp Club spokesperson Christopher Zinn.

 

MEDIA ENQUIRIES:

Jackie Levett, FiftyUp Club media contact

EMAIL: Jackie@fiftyupclub.com

PHONE: 0434 995 611 

Originally posted on .

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MEDIA RELEASE: OLDER AUSTRALIANS OPEN-MINDED ABOUT A CHANGE TO THE GST: 2 NOVEMBER 2015

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Colleen
Colleen from NSW commented:

A debit tax is the only fair tax on all financial transactions, every one pays including big business. 

Someone
Someone from VIC commented:

The Government should concentrate on stopping rorts like Multi Nationals tax and black money from tradies instead of raising taxes. Also there is a huge amount of waste in Government departments that needs to be addressed. 

Richard
Richard from QLD commented:

Change the current tax loop hole/ laws ,which allow big business with their tricky lawyers and accountants to avoid paying tax in the country they earn their profits. There would be no need for an increase if they paid their fair share. Stop mining companies from avoiding the proper royalty tax by selling to a subsidiary company at a low price ,exporting the product ,and then on selling at the going rate,and while we are on the subject stop subsidising these same companies,small business gets nothing and has to pay their way ,why shouldn't they also 

Peter
Peter from QLD commented:

When all the politicians and economists talk about any kind of tax review. They never talk about THE ELEPHANT IN THE ROOM. Public servants and their cost on the public purse both by outlays and undue influence on the costly buearacratic laws and rules that are thrust apon us. Further they don't give adequate respect to the flow on effect of their diatribe to self funded retirees, partial or full. We went without a lot of luxuries in our working life to retire with dignity. They appear hellbent on taking that away from us. 

Neil
Neil from WA commented:

I don't disagree with tax reform as it is needed. I would suspect reform of any nature will affect older members of the community such as pensioners and the poor the most The pollies talk about the heavy lifting required by the community to get our economy back on track, which I must add it's not in the best of shape, but when will the pollies surrender some of their excessive entitlements which are beyond reasonable and truly unfair. When will they do some lifting? 

Stephen
Stephen from QLD commented:

I'd support a temporary rise in GST if ALL proceeds went to paying off our national debt,not the redistribution of wealth as I think will be the outcome if it in fact goes ahead and when the debt is payed off it should revert back to 10%. 

Nola
Nola from NSW commented:

Whatever happened to the idea of a Debits tax? One cent in the dollar for EVERYONE, including all big business, collected by the banks. All the big businesses and foreign corporations made to pay their fair share. No exemptions for foreign owned businesses (why should THEY be exempt from paying tax?) Can't quite remember details of how debits tax worked, but why not take another look at it? Not taxed until you take the money out of the bank, so banks would surely welcome that idea. Does anyone remember more details? Of course it might put a lot of accountants and financial advisors out of work - perhaps that was the problem? Too simple? 

Pieter
Pieter from NSW commented:

Stop putting the squeeze on ordinary Aussies especially pensioners and low income earners when the big end of town aren't being made to pay THEIR FAIR SHARE of tax. 

graham and lyn
graham and lyn from NSW commented:

i would support a small increase to the GST so long as aged pensioners are fairly compensated by a pension rise or yearly payment of $1000 per couple to allow us to catch up on bills 

Tony
Tony from NSW commented:

50% increase to the GST is an insult to the Australian public. Cut government spending, no more handouts to the UN or foreign aid (food and medical supplies only). Politicians super needs to be aligned as per other workers. Foreign companies to pay a fair Tax. Greater support for self funded retirees. 

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