Good on you, Lapdog. Perhaps you should also quote:
"Most rich people took a very different approach. The tax statistics show that 99.3 per cent of Australia's income millionaires did pay tax in 2010-11, and 98.9 per cent of them paid a lot of tax: $8.74 billion between them. Those 0.1 per cent of all taxpayers paid almost 10 per cent of all income tax"
0.1% of the population paying 10% of all Income Tax. So 0.1 are basically funding the NDIS. Those 100,000's of people with permanent disabilities can have a dignified life because there are people in the community with very broad shoulder. You would think the country would be ecstatic to have such people on their team.
Meanwhile:
" But the figures show that 3.2 million Australians submitting tax returns ended up paying no tax: one in every four."
Its not the Millionaires not paying enough Tax. Its the 1 in 4 people who should be contributing something instead living on welfare. These aren't kids.
And while there are a few bad apples who will rort the system, even the article states:
"Most of their tax liability was wiped out by deducting tax losses run up in earlier years. In 2010-11, the 70 claimed $118 million in prior tax losses, and still had another $360 million left to carry over for use in future years."
Given that you are posting on a Stock Market Forum, you really should know better. Are you suggesting that previous capital losses should not be claimable? Really?
