Giving Australians $2,700 tax back while widening GST could help generate $152bn windfall, economist says

Economist who modelled GST estimates his proposed tax reform would lift real GDP by 6%, boost business investment by 11% and increase the number of homes by 8%Get our breaking news email, free app or daily news podcastGiving the average worker a $2,700 income tax cut in return for widening the GST would be part of a major tax overhaul that could add a combined $158bn to the Australian economy.Chris Murphy, an economist who provided the modelling for introduction of the GST and Ken Henry’s 2010 tax review, has outlined a $91bn shift in the tax mix, which includes replacing stamp duties with a land tax and taxing corporate super profits. Continue reading...

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