millionnaires avoiding tax

It seems that every time Wayne Swan talks provides a budget update he highlights revenue shortfalls. The failure of his version of the MRRT is stunning and indicative of just how easily our big players avoid their obligations.

Yet these people expect taxpayer subsidies for diesel fuel, the right to write down asset values and even claim baby bonuses and subidised 'private education'. They freely take advantage of public services and infrastructure.

Meanwhile, mainstream Australians cannot avoid their tax obligations; they're saddled with PAYG and of course the GST.

Our pollies have a responsibility to deliver fairness and equity. They're failing miserably!

According to this report from Tim Colebatch from The Age online, some of our millionaires pay NO tax at all:

"... The annual tax statistics released last week show that the 70 earned $194 million in income between them, but by the time their accountants had finished, that had been reduced to less than $20,000 in taxable income between them: $1 of taxable income for every $9999 that went untaxed. ..."

"... For example, 2320 taxpayers with declared incomes of more than $100,000 paid no tax. ..."

http://www.theage.com.au/business/millionaires-snub-taxman-20130506-2j3pr.html

Australians should be outraged and have every right to expect that both Julia Gillard and Wayne Swan urgently address such open abuse of their rights in this country.