In the US they slashed tax rates but disallowed deductions and found they were actually able to collect more tax. That's what they need to do here - do away with all the little avoidance schemes that the super wealthy use and cut rates right back. They could also do with 90% of ATO staff by simplifying things like this - possibly why it will never happen.
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- this is why cg tax should be 20pcent max
In the US they slashed tax rates but disallowed deductions and...
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