I tend to agree provided that the CPI basket of 100 essential items are all exempt from GST & not just food etc. As such the rich would be paying the GST on non-essential & Luxury items & services
IMO , over half of our top 550 companies who pay no company tax dont pay GST either ( company GST is only levied on company profit. So rather than avoiding out 30% corporate tax these companies are also avoiding the extra 10% GST!
No wondr hat there is, Transfer Pricing, Debt Loading & Cash Boxing to avoid Aussie taxes.
IMO Joe Bjoke Peterson had the right idea in the late 80's: Just impose a flat corporate tax of 10% on turnover and this would generate more tax revenue for the Country and at the same time simplify ATO & Company accountancy costs.
Just imagine if there was a flat 10% turnover corporate tax on these ( half pay little or not tax):
A flat 10% corporate tax would mean: -No Soverign debt -A Soverign Peoples fund like Norway -Proper housing, health & education for all
Instead we stand idly by while comapnies like Glencore, News Ltd, GM etc pay little or no tax! ( see the link above & please spend 5 minutes of your time studying it (Thanks to Aunty for publishing it............Do you think that News Ltd would publish such a list?)
