GST rise preferable to stamp duty, finds survey
THE property industry has called for GST to be taken out of the political "too-hard basket" after a survey showed 72% of people believed a rise was inevitable in the next 20 years.
A survey for the Property Council of Australia also showed most of almost 2000 people surveyed thought it was a "fair tax".
However, housing affordability remained the biggest concern for 86% of respondents and 54% of those surveyed said stamp duty was a major barrier to buying a home.
As the Abbott Government considers tax reform, PCA chief Ken Morrison said the survey showed people understood the need for tax reform, despite the perception it was "political poison" and respondents backed a GST rise to replace taxes such as stamp duty.