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 Idiotic OECD urges OZschwitz to increase the GST

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RR Phantom

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PostSubject: Idiotic OECD urges OZschwitz to increase the GST   Idiotic OECD urges OZschwitz to increase the GST Icon_minitimeFri Dec 14, 2012 8:35 pm
THE Organisation for Economic Co-operation and Development has urged the federal government to consider raising the GST and widening the mining tax, in a bid to shore up the budget's long-term health.

Idiotic OECD urges OZschwitz to increase the GST Artincrease20the20gst62



In its latest review of the nation's economy, published on Friday, the Paris-based think tank also gave the Treasurer, Wayne Swan, the green light to delay the return to budget surplus this financial year if the economy deteriorates more than expected.

With growth in the $50 million-a-year GST slowing due to weaker household spending, the OECD said the tax's rate of 10 per cent was low compared with other countries.

As part of a suggested tax overhaul, it urged the government to look at raising the tax's rate, and removing exemptions for spending on fresh food, medical services and school supplies.
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It also said the mining tax, which is levied on to coal and iron ore miners, should be broadened to apply to other natural resources, and corporate taxes cut.

Read more: http://www.smh.com.au/business/the-economy/increase-the-gst-urges-oecd-20121214-2bf5y.html#ixzz2F52CMIoP

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