Prime Minister Malcolm Turnbull is toying with the idea of raising the GST from 10 to 15%, in a move the National Centre for Social and Economic Modelling estimates would cost the average household $2915 a year.
It's a move engineered to go after low to middle income earners and would make it even harder for struggling families to make ends meet.
What the Government should be doing is looking at ways to close the loopholes that allow big corporations to avoid their tax responsibilities altogether - not making life harder for everyday Australians who already pay their taxes.
We'd like to hear from you. What would a hike in GST mean to you? Would it make it harder to make ends meet? Could your family afford an extra $2915 a year?
Please tell us your story below.