Corporate Tax Cuts? Better Personal Cuts
#62
Re: Corporate Tax Cuts? Better Personal Cuts
Yeah, that's why I added in the "we'll each pay $5" part of my scenario correction. The rich love the idea of 'consumption' taxes because it means that they don't have to bear their share. GST is effectively levied on the majority of goods, meaning the rich get an effective 'free pass'.
Buying a $5 bottle of wine would attract GST of 50c
The vast majority of Australians earning $50k effectively pay no income tax (in fact they get more back). That looks awfully like a 'free pass to me'!
#63
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Re: Corporate Tax Cuts? Better Personal Cuts
Don't wriggle out of debate as is your inclination. You were referring not just to tax on cig's and Foxtel, but an overall consumption tax on everything.
Besides having to put up with some of the rot going around, you can hardly blame someone reaching for a fag (now most expensive in world, I believe, in Nanny State Australia, leading in itself to affordability issues for those whom smoke,) Foxtel? So what? Keeping people entertained can perhaps alleviate other issues of a far more anti social direction or desperation and impact on health services.
Besides having to put up with some of the rot going around, you can hardly blame someone reaching for a fag (now most expensive in world, I believe, in Nanny State Australia, leading in itself to affordability issues for those whom smoke,) Foxtel? So what? Keeping people entertained can perhaps alleviate other issues of a far more anti social direction or desperation and impact on health services.
After all I am all about fairness and will defend your bigoted attacks on the wealthy all day long.
#64
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Re: Corporate Tax Cuts? Better Personal Cuts
#65
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Re: Corporate Tax Cuts? Better Personal Cuts
Besides being unable to defend the indefensible of course. Fairness in your book in corporate tax avoidance regardless of societal impact.
#66
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Re: Corporate Tax Cuts? Better Personal Cuts
Avoidance or evasion? Avoidance is something we all do in accordance with tax laws. You would be completely stupid and most likely a liar if you didn't.
#67
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Re: Corporate Tax Cuts? Better Personal Cuts
Evasion. When even The Don speaks out against your apparent examples of prudence within the dodgy corporate sector, I'm referring to Amazon of course and their malarkey in creative tax avoidance. Not just in America of course, but EU trickery as well.
#68
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Re: Corporate Tax Cuts? Better Personal Cuts
Which is why you should attack the governments, not the company. If Luxembourg create the rules, and other countries have no laws or sanction powers to combat it, retrospective tax grabs is unacceptable for all.
#69
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Re: Corporate Tax Cuts? Better Personal Cuts
Time to end the rotten culture that over compensates rogues. The power of corporations these days influences by various means, for example lobbyists to ex politicians sitting on boards to out right corruption and everything thinkable in between. Government needs to dissociate itself from business returning more to an umpire role. Luxemburg is a pretty darn good example.
#70
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Re: Corporate Tax Cuts? Better Personal Cuts
Free pass indeed.
#71
Re: Corporate Tax Cuts? Better Personal Cuts
Really? Try living on just over $41,000 a year then. Chances are an earner on such a wage would be paying rent, the subsidy would be probably lucky to cover a quarter of the cost. Probably right though, A $5 dollar bottle of gut rot on pay day, as earnings wouldn't stretch to much more. Every chance they may smoke as well. Slugged for tax like nothing else. So what if a luxury such as a $1 million dollar boat is taxed at such a rate. The fag tax would work out higher all things equal.
Free pass indeed.
Free pass indeed.
The first is to talk about GST and then at the end switch to income tax to say they are getting a 'free pass'. Of course the reality is they are paying significant amounts of tax because ...
... part two, the proportion of their income paid in GST is much greater for the person on $50k than the person on $1m. Their effective GST tax rate is much higher, and ....
... if you are looking to buy a boat there are many more ways of avoiding paying tax, even GST. For instance, buy it via an offshore company you own in a zero tax location, and rent it out to yourself so you can claim back the costs as a business expense, and keep it in Australian waters for less than a year, etc. etc.
Kind of difficult to do that for the GST on your electricity bill for Mr 50k.
#72
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Re: Corporate Tax Cuts? Better Personal Cuts
Time to end the rotten culture that over compensates rogues. The power of corporations these days influences by various means, for example lobbyists to ex politicians sitting on boards to out right corruption and everything thinkable in between. Government needs to dissociate itself from business returning more to an umpire role. Luxemburg is a pretty darn good example.
#73
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Re: Corporate Tax Cuts? Better Personal Cuts
Really? Try living on just over $41,000 a year then. Chances are an earner on such a wage would be paying rent, the subsidy would be probably lucky to cover a quarter of the cost. Probably right though, A $5 dollar bottle of gut rot on pay day, as earnings wouldn't stretch to much more. Every chance they may smoke as well. Slugged for tax like nothing else. So what if a luxury such as a $1 million dollar boat is taxed at such a rate. The fag tax would work out higher all things equal.
Free pass indeed.
Free pass indeed.
What a contribution to society this person is making. I guess they are when you throw in the fags and the gut rot tax.
Nah maybe not when our medicare levy is sorting out their health.
Are you starting to see where fair play comes into society?
#74
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Re: Corporate Tax Cuts? Better Personal Cuts
... if you are looking to buy a boat there are many more ways of avoiding paying tax, even GST. For instance, buy it via an offshore company you own in a zero tax location, and rent it out to yourself so you can claim back the costs as a business expense, and keep it in Australian waters for less than a year, etc. etc.
The bitch is having to fly to Monaco once a year to use it.
That said you can rent it out, then it becomes a legitimate business earner, but in the case of a boat, most likely losing money.
Sounds good on paper but the harsh reality is you are better off renting.
Last edited by Beoz; Feb 21st 2018 at 10:30 am.
#75
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Re: Corporate Tax Cuts? Better Personal Cuts
What the country needs is to take back control and have a government like Norway, whose sovereign wealth fund is now worth in excess of 1,000 Billion $ and is greater than that of Saudi Arabia.