I tend to agree with you trader,what should have occured some time ago,is all the hidden state taxes that were promised to be obolished post the GST implimentation should have been scrapped,which everyone knows they wernt,however some of this was johnny and peters fault,because they had the numbers in boths houses to make this happen. When labor got in,the first thing they should have done was get rid of these taxes,then do what they think they should be doing. Some threads ago I said Ken Henry had 150 tax ideas,well I was wrong it was 138 apologies.
As new research suggested the nation's households could be up to $12 billion a year better off if State taxes were overhauled, Mr Barnett and other Premiers are also under pressure to cut stamp duties on real estate deals.
States will also be expected to look at ways of reforming many of their taxes that former Treasury boss Ken Henry found were narrowly based, poorly designed and hurt economic activity. The Government plans to cut the company tax rate to 29 per cent from next financial year, but the Henry review wanted a 25 per cent rate.
The report, compiled by Deloitte Access Economics, said big efficiency gains could be made if States got rid of many taxes, such as insurance taxes, and pursued broader payroll taxes and a lift in the GST
The Government has already ruled out using the tax summit in October to look at a GST increase.
In a repeat of the Hawke government's tax summit in 1985, the Opposition did not get invited.
Again as per my white and green paper inititive of 75 percent adoption from the parliament not the government all political parties should be at this tax summit. Im also in favour of a raised GST only however if the tax thresholds are raised,this country needs to reward work and allow unfetted purchasing oppurtunities,here in WA buying lounge suits on a Sunday is beleive it or not is nigh on impossible,drugs however are easily bought.
