A GST hike is part of one of two major tax reform packages being considered by federal Treasurer Scott Morrison.
A rise in the GST to 15 per cent would boost revenue by $32 billion each year under the largest of the packages, which Prime Minister Malcolm Turnbull prefers, News Corp says.
The increase would be expected to enable further tax reform including cuts to personal income tax and company tax rates, as well as compensation for low-income earners.
"The government is not ruling anything in or out and is focused on changes that will boost growth and jobs," Mr Morrison said in a statement to AAP.
"It's about having a better mix of taxes, not increasing the burden of taxes."
State government support would be needed to implement the GST package, but some have already ruled out supporting an increase.
At a Council of Australian Governments meeting in Sydney in December, Victorian premier Daniel Andrews said the states and territories were nowhere near a consensus on tax reform.
Shadow treasurer Chris Bowen says Labor has already announced proposals for superannuation tax and negative gearing changes that Mr Morrison "railed against".
He said Labor could not consider offering its support for any tax reform proposal without first seeing the details.
"We're prepared to put detailed plans out there to have them analysed, scrutinised and to debate them," he told reporters on Saturday.
"To have that discussion and make that decision we'd need to see the plan."
Mr Morrison, who said Labor had opted out of debate on how to change the tax system, is also reportedly considering a smaller package that would still include personal income tax cuts, limits on negative gearing and workplace deduction cuts without the GST increase.
Those cuts would be funded by increases in superannuation taxation and limits on workplace deductions and negative gearing concessions.
House of Representatives economic committee chairman Craig Laundy has been commissioned to conduct an inquiry into tax deductions that currently cost the government up to $5 billion in revenue.
