The Forum > Article Comments > Housing industry ploy > Comments
Housing industry ploy : Comments
By Karl Fitzgerald, published 18/4/2012The housing industry is attempting to re-write economic laws by pushing 'as fact' that a GST on food is more efficient than land tax.
- Pages:
-
- 1
-
- All
- Pages:
-
- 1
-
- All
The proposal he critiques is an expanded GST. One agrees, it's definately dumb and would simply add to current contraction.
What is required is a a govt with the courage of conviction, and the vision and foresight to implement reform!
The current raft of inordinate complexity, ought to be completely and totally jettisoned, and replaced with a single stand alone unavoidable expenditure tax, collected via the banking fraternity.
Bank main frames are already programmed to collect and transfer various/vast amounts overnight to other banks and various govt agencies. Given there'd no longer be any compliance or reconciliation outcomes, businesses would be able to pocket the 7% currently ripped out of the bottom line by compliance and reconciliation.
Govt departments would then have immediate access to these funds, rather than borrow against a contracting revenue flow, which cannot be actually accessed until reconciliation procedurals; that tie up tax receipts for up to a year.
A vastly simplified stand alone unavoidable expenditure tax, would end this absurdity, which can see a govt obliged to borrow up to a hundred million a day, ostensibly to continue to fund around 26 billion per, completely unnecessary outlays, intended as entirely undeserved/unearned welfare for the rich.
One can agree, with an onerous capital gains tax being applied quite viscously to undeveloped rezoned land, unless it is completely developed with housing; inside a rigidly enforced time zone, say twelve months.
Failure to comply could even result in seizure of said land in lieu of any unpaid capital gains.
This way we could finally eliminate the entirely unproductive land baron speculation/speculators. Who simply add exponentially to affordability outcomes? Rhrosty.