The Goods and Services Tax The Policy Objective of the Goods and Services Tax " 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 Tax System (Goods and Services Tax ) Bill for 1998 '). By the introduction of the Goods and Services Tax (GST), the Australian Government will abolish ten indirect inefficient taxes such as the Wholesales Sale Tax (WST). These indirect taxes are inefficient and