http://switzer.com.au/the-experts/david-bassanese/get-rid-of-the-gst-and-save-50-billion/ Yeah yeah, I know, get rid of all tax, governments etc etc. Well until that happens, the least the bastards could do is stop wasting our time with having to itemise and report it.
taxing the flow of money doesn't sit right with me. A consumption tax is fair if it avoids the basics. That way they don't tax productivity since you can make as much money as you like and don't pay any tax until you start spending it on "stuff". There are heaps of situations where electronic transfers aren't related to actual economic activity. The statistics prove that, 66 times GDP? A lot of it is obviously just people moving money around. Watch out if it looks like it's coming in. They're already trying to lock down cash transactions, if you can dodge tax by paying cash you can bet we'll be losing the $50 and $100 notes like they were discussing and any number of other"incentives" to move people away from cash/bitcoin/PM.
News just in, Netflix will not charge GST to local subscribers because service is provided from outside Australia!
Has anyone done some more digging into this? The idea seems simple and fair enough, anything that gets rid of progressive tax rates and personal income tax has been wanting to know more. What's the catch?
Ok a pretty big catch, but no one is doing massive dodgy deals in cash anyway these days unless you're a drug dealer.......so for a huge portion of the population who deal in cash to save a bit here and there because of the tax burden is so high, why would they bother if they have no income tax. Sure the tiny transaction taxes add up over time but unless you're a high freq trader I'm not seeing a down side. Hawkeye? Bordsilver? shiney? Tell me why this sucks because I've been busy over the last 8 months and haven't been following ya'll. I only just had a little tear 5 minutes ago finding out about poor Maggie.
There's a HUGE cash market in services here. Haven't you ever been offered a different price from a tradie for cash payment?
One of my nieces applied for a part-time job a at a Thai restaurant. When she was offered the job they said "You want cash. Or you wanna pay tax!"
Yep. Sounds like a Labor commentator. Want's to keep us in the 1950's and has no concept of the impact of the digital economy. Attacks Hockey for wanting to address the financial and online world as it is in 2015.
Ah the old lie "Taxes buy us our nurses, our ambulance drivers, our teachers, our Test cricketers. They give us, in acting schools, our Blanchetts, Gibsons, Kidmans, Luhrmans. Taxes win us Oscars." Income tax was introduced in 1913 in the US as a temporary measure. Funny how the US evolved from 1800 to 1913 without it. The only thing tax increases invariably create are more civil servants and laws.
^^^^From 1800 till 1913was there any depressions in the US? Was there any currency fiat collapses? Regards Errol 43
That's a minuscule figure with respect to the potential profit/capital gains/income tax that would incur much much higher percentages of tax on a deal that large. 3.6m @ 5% profit is 180k with a potential capital gain of say 50k plus is a lot more to invest effort in hiding. With no capital gains/company tax to write off certain things ere is certainly less incentive for tax avoidance. Of course a heap of measures would be put in place to track such transactions.
Absolutely but many accept it purely because the governments tax burden is so large. On the flip side many tradies run the gauntlet with cash because they can't register it as income when applying for credit. With the burden reduced significantly there would be much more incentive to declare everything to show much higher turn over and income and take the benefit of having more available credit to grow a business.
Yes. There was near continuous phases of recovery and depression and fighting between a gold standard and a bi-metallic one. One camp in silver and the other in gold. The fiat issued by the southern states during the civil war collapsed.The recessions tended to be deflationary but look what that population accomplished in that time without anyone claiming that the sun the moon and the stars were made by government. It's a very modern statist phenomena that suddenly government is taking credit for everything that is or was or shall be. It is as if government does not actually know what it is for anymore so just claims that nothing would exist without it, which is a lie.
There are few things I hate more than listening to politicians talk about how many jobs they've "created".
Propagandists working hard at the moment. Interesting that on the 'you have read your free 30 articles a month' sites, the tax propaganda is not counted it appears.
