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  • The Impact of the Goods and Services Tax on Mortgage Costs: Evidence from Australian Mortgage Corporations

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    86754_1.pdf (296.3Kb)
    Author(s)
    Huang, Allen
    Liu, Benjamin
    Griffith University Author(s)
    Huang, Allen R.
    Liu, Benjamin
    Year published
    2013
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    Abstract
    so, which corresponds with the introduction of the Goods and Services Tax (GST) in July 2000. To what extent the GST has impacted mortgage costs is the research question. This study investigates the GST impact on the mortgage costs of Australian mortgage corporations. Using data of mortgage corporations operating in Australia, we perform t-tests and multivariate regression analysis to examine the GST effects on mortgage yield spreads. The empirical results clearly indicate that mortgage corporations increased their mortgage charges in the post-GST periods significantly beyond the magnitude of the GST. Furthermore, the lenders ...
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    so, which corresponds with the introduction of the Goods and Services Tax (GST) in July 2000. To what extent the GST has impacted mortgage costs is the research question. This study investigates the GST impact on the mortgage costs of Australian mortgage corporations. Using data of mortgage corporations operating in Australia, we perform t-tests and multivariate regression analysis to examine the GST effects on mortgage yield spreads. The empirical results clearly indicate that mortgage corporations increased their mortgage charges in the post-GST periods significantly beyond the magnitude of the GST. Furthermore, the lenders started to increase the yield spreads before and continued to increase the spreads after the implementation of the GST, indicating the rise in mortgage costs was not a one-off surge. The findings offer insights into mortgage costs and have significant policy implications and wider economic relevance.
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    Journal Title
    International Journal of Financial Research
    Volume
    4
    Issue
    1
    DOI
    https://doi.org/10.5430/ijfr.v4n1p54
    Copyright Statement
    © The Author(s) 2013. This is an Open Access article distributed under the terms of the Creative Commons Attribution 3.0 Unported (CC BY 3.0) License (http://creativecommons.org/licenses/by/3.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
    Subject
    Banking, Finance and Investment not elsewhere classified
    Accounting, Auditing and Accountability
    Banking, Finance and Investment
    Publication URI
    http://hdl.handle.net/10072/54150
    Collection
    • Journal articles

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