Are you paying too much tax? then read this.

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Originally Posted by trout1105

As Most Australian families run at break even or at a loss so in all fairness the average wage earner should only be taxed (Like companies) on what they have been able to put into the Bank (Profit) over the year [bigwhistle][bigwhistle]

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Revolution would be happy with less money spent on bitumen !

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Originally Posted by trog

Revolution would be happy with less money spent on bitumen !

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I was under the impression that licencing and rego fees were initially introduced to fund road repairs and projects which is yet another thing companies can claim as a tax dodge that individuals can't. [tonguewink]

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Originally Posted by trog

Revolution would be happy with less money spent on bitumen !

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Oops spell check got me , I meant eevo!

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Originally Posted by trog

I thought our rulers had proposed a tax cut so as to try and get some tax monies that they would otherwise not get ? Maybe the same automated system used to track dole bludgers might work 🤣

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I watched a program on SBS called Struggle Street Conversation it was directly after the last episode of Struggle Street. On the panel they had an economist. He made a point that unemployed are actually doing us a big favor.
If they all became employed, then the economy would grow and the risk of overheating. This puts pressure on the Reserve Bank to raise interest rates and the majority would suffer. So unemployed people are useful he said.

Unemployed also keep the price of labour down.

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Originally Posted by Roverlord off road spares

I watched a program on SBS called Struggle Street Conversation it was directly after the last episode of Struggle Street. On the panel they had an economist. He made a point that unemployed are actually doing us a big favor.
If they all became employed, then the economy would grow and the risk of overheating. This puts pressure on the Reserve Bank to raise interest rates and the majority would suffer. So unemployed people are useful he said.

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I didn’t see that episode but correct 0% unemployment present a whole lot of other issues.

Anyone who legally avoids paying any more than they have to is not breaking any of the huge amount of the laws made by our mostly worthless politicians. What we could really do without is so many obviously incompetent big spending law makers and some fairness in the system.
And a darn sight less off giving money away to those individuals (and some countries via foreign aid) who have never contributed and are never likely to. Among those I do not include the many disabled etc.
AlanH.

If your Ferrari , yacht , meals , accomodation , travel , drinks , women etc. are tax deductable , then who needs an income ?

In my forty years working life I was self-employed much of the time and worked for wages, salary, commission for the rest. When on salary + commission I had a few real good years with a quite high income. I paid a lot of income tax in those years with little opportunity to avoid it. When self-employed I paid very little tax due to the way our Income Tax Assessment laws favour self-employed, investors, primary producers. This is wrong and highly discriminatory. I do not think any pollies would have the intestinal fortitude to ever correct this.

One way of correcting this anomaly would be to remove income tax and introduce a turnover tax on all. You grossed $10,000,000 so send us 5%, no deductions or exemptions just a simple percentage of your gross. Those trading for unrecorded cash in the black economy would continue on rorting the system like they do now but wage earners and businesses can't hide their receipts. This would sort out those international corporations that trade at inflated prices with their overseas affiliates.