Among them is the Mortgage and Finance Association of Australia (MFAA) under chief executive Anja Pannek (pictured, right).
In its submission to the Productivity Commission, the MFAA recommended raising the GST from its current rate of 10% – unchanged since 2000 – to 15%.
This increase, the MFAA argued, would help offset the abolition of stamp duty and payroll taxes, which the association also proposes.
“First-home buyers across Australia are provided exemptions or concessions, saving them from paying stamp duty on their first home purchase, however for others, stamp duty locks homeowners into existing properties, limiting refinancing or downsizing,” the MFAA said.
“The removal of stamp duty makes housing more attainable while reducing the administrative and cost burden for not only first-home buyers, but also federal and state governments administrating interventionist, market-distorting and complex home buyer grant schemes.”