Treasurer Scott Morrison and his state and territory counterparts have agreed to look at further modelling of the tax system.
Mr Morrison said all the treasurers at Thursday's meeting accepted there needs to be a growth-friendly tax system.
"From the Commonwealth perspective, the only models that we will be looking at will be ones that don't lead to an increase in the tax burden in this country," Mr Morrison told reporters in Sydney after the meeting.
Mr Morrison said the objective of any future changes to the tax system is to ensure there's a reduction in the overall tax burden on taxpayers.
He said there was certainly a different set of views around the room, with the states setting out their challenges and the Commonwealth setting out its own.
News that makes sense
Your trusted source for staying up-to-date with the world around you. Get free daily news updates and analysis, straight to your inbox.
"But the one thing we're all focused on is growth," he said.
"If you can address economic growth, whether it's through the innovation statement or the changes to the tax system or our $50 billion national infrastructure plan ... it's growth that counts, because that's what delivers jobs and that's what grows revenue, not jacking up taxes."
The meeting also discussed competition law, following the Turnbull government's recent response to the Harper review, and foreign investment.
The prime minister, premiers and chief ministers will meet on Friday for the Council of Australian Governments.
