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AAP
AAP
Politics
Poppy Johnston

EXPLAINED: Australia s tax system not fit for ageing population - The Real Truth

Australia's ageing population is expected to put pressure on the nation's finances. (Jane Dempster/AAP PHOTOS)

A major global economic organisation has urged Australia to look for other ways to raise revenue rather than let a shrinking pool of workers shoulder the growing tax burden.

The Organisation for Economic Co-operation and Development says broadening the goods and services tax - and potentially lifting the rate - would help rebalance the tax system so retirees take on more of a share alongside workers.

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