Ahh the issue of Tax. While I do agree with a lot of your comments. I also unfortunately have to work with the idea that tax is a necessary evil. Without a proper tax regime, a bit like Mozzin Robin Hood, some sort of distribution of support to the most needy is much harder. I think this is good in theory where we need to at least look after some of society's most vulnerable but I also think there is a limit. There would be even less incentive to work hard and to save money if it went to the extreme.
Like with all of my posts it's just my personal thoughts, I'm certainly no tax expert. Yes there are elaborate schemes to minimise tax but stay well away from the ones that are designed to eliminate tax! My mantra is that finally if I'm paying more tax it means Im making more money. Yes I understand that it is the efficiency and wealth creation that's important and the ATO commissioner also states that minimising it is fine as long as you follow the rules in an honest manner. In Aus we have such good infrastructure, support nets, a good environment, health systems, of course it can always be much better and there are many areas that can be improved further, but hey, compared to so many other countries we have it good.
Do a honest day's worth of work and you get rewarded for it. Rip off the system and that Karma train will catch up, you will never be happy. Yes we ourselves lose sometimes, that's part of the risk, follow guidelines like diversification and insurance etc. Balance. It can't be all work and no play for instance.
ok I've ranted enough, start a new thread if you think it's of benefit but everyone is different and has different circumstances so it can't be very specific advice? As we have seen here we have many different shareholders here with lots of (interesting) different stories.
Good on your for raising this important topic all the same. Yes it will become important as these gains of ours add up!
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