'super is likely to change for the worst, as the tax take is insufficient run the country. we cannot afford to forego $45 billion tax a year, '
Of course this sort of statement means little without context. How much does neg gearing cost? How much does the discount tax rate on cap gains cost? How much do tax rebates cost? How much does tax free main residence cost? How much do family trusts cost?
I'm all for a sensible debate about taxation and how it should be gathered, to pay for essential services. But to take one aspect and keep crapping on about a headline number is political poker. The politics of envy for sure.
Lets bring everything into the debate and have a sensible discussion.
A) stop neg gearing
B) stop cap gains tax discount
C) stop main residence tax free status over a reasonable level
D) stop all tax rebates
E) stop family trusts tax benefits
F) consider Super taxation for the longer term.
G) remove stamp duty
H) remove GST exceptions
I) increase GST to 15%
Do all of the above and we could probably allow the first $50k to $80k to be tax free and remove the average worker from tax all together. It makes no sense to tax low earners and then give then rebates - it just reinforces the dependency culture that governments all over the world like so they can pork barrel at election time.
