Raise the GST - but only with property tax cuts: REINSW

The Real Estate Institute of New South Wales’ (REINSW) deputy president John Cunningham said they would support an increase in the GST – so long as there is an abolition of inefficient property taxes.

Cunningham said stamp duty and land tax, as well as other property related taxes, are inefficient and should be removed.

These taxes have also been described as inefficient by the Independent Pricing and Regulatory Tribunal.

“We also believe that payroll tax is an inhibitor to employment and should be abolished,” said Cunningham.

“If there is such a thing as a good tax system, it is broad based that will provide government with its revenue and not impede or deter investment.”