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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

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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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Robert
Robert from TAS commented:

There is not just one fix that needs to applied to improve the future tax shortfall.It will require spending cuts, review our welfare payments in particularly for the younger generation combined with youth specific employment programs and then possibly a gst increase. 

Marilyn
Marilyn from QLD commented:

Once again another policy by the government that will impact the standard of living of retirees. If the rate of GST is raised to 15 per cent it comes on top of reducing or removing pensions for some retirees - they will not be compensated by tax cuts as working people will. What is the government going to give them in return for this rise which will impact potentially almost everything? If the GST has to be raised a rate of 12 per cent would appear to be fair and not have as great an impact as a rise to 15 per cent. Notwithstanding whatever level of increase, there should be some level of compensation to retirees as well as working people. 

Warren
Warren from NSW commented:

Those mindless fools the Democrats (Senator Meg Lees) stuffed up the original GST package by excluding food and other expenditure lines under some glorified and misguided principle of “keeping the bastards honest”. NZ have GST it on all commodities, and a few items ‘zero’ rated where appropriate. It was introduced by a Labor Government and the system works well. 

Someone
Someone from VIC commented:

If the government is having trouble meeting the increasing cost of medicare then they should increase the tax rate of the medicare levi, thats what the levi is for. Raising the GST is just an easy way out for the government as they can blame the states for agreeing to the increase. Increasing the GST will hit those that can least afford it the most as the lower paid generally spend all or most of their income on the basics of everyday living. There are many ways governments could save money but they are not game enough to do it in case they loose votes. 

margaret
margaret from NSW commented:

Yep The 10% was only 'foot in the door' and I am surprised it has not been increased by now. At least after the rise of 50% to 15% the next will only be an extra 2.5% to 17.5%. proves the "no need to worry about increases, the population increase and wage growth will make that unnecessary"was for the SUCKERS. 

Patricia
Patricia from NSW commented:

I am concerned re GST being raised at all for pensionsers Every bill I receive contains GST and having enough trouble paying them at all. Food a definite NO NO NO 

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