How would you improve the Australian tax system?, page-131

"Having worked in this area though, you will never see the end of them"
Hi Cutty,
I'm not so sure about that.
At the last election , a 2% swing from the final result , would have had discretionary trusts brought under control.
Dave is spot on with his point on taxable/real incomes, as he mostly is , but I wish the old 10 million line would disappear [I'm presuming that is a leftover from the rash of misleading articles arising from the tax department report], it is obvious hyperbole, easily picked apart , and like the "taxation advice" debate sparked by the ALP policy going into the election, just makes the left look amateurish and foolish.
Like a broken record, I'll repeat my basic recipe for federal personal and consumption taxes.
1. discretionary trusts reined in
2. return to Keating cgt
3. couples with children, income splitting
4. abolition of post 60 tax free withdrawals[tax at marginal rate with allowance for tax paid]
5. abolition of concessional rate for over the cap super earnings
5. 15% gst with widening of the base[with compensation]

not perfect, but it reduces the gap between taxable and real income pretty fairly, with minimal disruption to real business and investment activity.
Note, no changes to negative gearing or franking credits needed
cheers