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Hockey's latest rip off?, page-5

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Dave R

58,089 Posts.

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28/03/15

10:27

Post #: 14997084
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Originally posted by boatboy ↑

Even after we've paid tax on our initial income we're then removed of another 10% of our hard earned every time we purchase something

Lapdog, when were you born? Post 2000 after the 10% GST was introduced? Be truthful man.
.. don't try and gild the ALP lilly please with false accusations.

Do you recall if you were around prior to 2000, there were several levels of tax applied to goods we purchased. The basic wholesale tax was 15%, the retail tax was 12% and there was also a luxury tax around 17% odd I think applied to perfumes and some other "luxury" goods.
There were also FID (Financial Institutions Duty) and BAD (Bank Accounts Debit) taxes applied to bank transactions.
These wholesale / retail taxes were fazed out at GST introduction, the other two within a year or so from memory.
So in fact you pay less tax on an item than prior to the introduction of the GST!

If the Govt were to put a tax back on bank accounts it would be a re introduction of the BAD tax we all paid between 1982 and 2001, the Frazer Govt introduced it in 1982.

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A small % tax (say 0.1%) on all bank transactions would raise a lot of money and would be equitable because it would be applied proportionately. It would also be very difficult to avoid unlike most other taxes. Even the poor would not miss it if it was $1 in a $1,000 so I think it's a good idea so I bet Hockey never does it.
Dave R.
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