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I got stung on customs and DHL storage cost issues etc.
Look at history of money. We know where we are headed so why not jump for it.
Do away with cash - make it all card based.
All movements go through government computer for tax deduction before balance flows to recipient. This would cover overseas purchases.
One tax - no other tax state fed or otherwise.
Tax is soley on movement between entities, both business and personal.
Same flat rate of tax business and personal.
No more tax deductions.
No tax returns for business or personal.
The likes of Harvey's then have chance of being competative because they can drive better prices in bulk purchases from overseas.
Only customs inspection for goods likely to bring disease or drugs, otherwise no hold up on deliveries and no customs fees (covered by tax).
System guarantees on fraudulent transactions.
System provides real time aggregated economic data.
Confidentiality, not used for any other purpose other than tax collection and national accounts.
It would change the role of organisations like Tax and ABS, accounting firms etc. Probably no need for censuses and business/household collections (hundreds of millions of dollars saved)
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