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