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boomeronrations

6,500 Posts.

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13/02/19

21:04

Post #: 37429141
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Originally posted by pierogi: ↑

"Your article of faith is that company tax must be paid.
Mine is that tax should be paid on a progressive scale."To say "an article of faith" is trite. Its the fundamental principle applied throughout the world in equivalent economies. It only exists here as a dysfunction of our tax regime gifted during a period of above normal national income by a political party looking to advantage its own position.

Imputation systems are to prevent double taxation of company tax, not to see it effectively unpaid.

I reckon you're on a losing wicket if you believe the government can't stop the barbarians at the gate. The government owns the game. As you say, "the kind of arrangement described in the article (above), mostly dies with the changes to discretionary trusts that are part of the Labor tax changes. A long overdue reform." Isn't that an acknowledgement of such?

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Hi,
"the kind of arrangement described in the article (above), mostly dies with the changes to discretionary trusts that are part of the Labor tax changes. A long overdue reform." Isn't that an acknowledgement of such?"
The government can indeed make changes that work and achieve the aims that they wish.
The problem with the change we are discussing, franking credits, is that the structure of the change to retirement income taxation, does not, and cannot achieve the aims needed. Those aims should be to raise tax in a fair, efficient manner.
Cheers
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