Part 1 of Essay
The Policy Objective of " This is A New Tax System for a new century", as quoted by the Hon P Costello MP in the second reading speech for ' A New Tax System (Goods and Services Tax ) Bill for 1998. Australia is in need for a change of Taxation systems to ' A Modern, Broad Based, Low Rate, Goods and Services Tax'.(' A New ....

Part 2 of Essay
.... the consumers the fairness of the GST implementation. * Increase the Real purchasing power of consumers.('Tax Reform. Not a new tax. A new tax system', from the Regulation Impact Statement for the Introduction of a Goods and Services Tax). The Goods and Services Tax is the necessary change that Australia needs for a new tax reform. Australia's current taxation system is complex, unfair and in need of a quick replacement due to it being out-of-date. The current taxation system incurrs both ....