Business View Magazine Jan-Feb 2019

37 lia’s economic potential is being held back and squandered by a tax system that has failed to keep up with the times. Phasing out stamp duty in favour of a broader based GST, and broad based lower rate land taxes could deliver real dividends for economic growth and productiv- ity, and housing affordability and supply.” Another issue that UDIA has been consistently taking up with the federal government is the need to strengthen the country’s infrastructure so that it can continue to cater to the growing population. The recently issued Australian In- frastructure Audit Report states that the coun- try’s population is expected to grow from 22.3 million in 2011 to 30.5 million in 2031. Australia’s population growth is the fourth fast- est amongst OECD countries and if only those