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Can we end disadvantage? : Comments
By David Hale, published 2/6/2020The Paul Ramsay Foundation has pledged to tackle disadvantage. The biggest foundation in Australia has already allocated 84 million dollars so far in 2020.
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Given the top tax paid in ACTUAL DOLLARS AFTER ALL THE EXCLUSIONS, WAS, FOR THE YEAR ENDED 2017, JUST 13%!
With some paying in actual money transferred, just 4%? Others paying no actual company tax to anyone courtesy of the vagaries of globalised, tax loopholes/sharp practice?
Some send the same sum of money around through various subsidiaries to create outgoings in several ledgers and given the ATO never considers the conglomerate's income, but treats each and every subsidiary as a separate entity for the purpose of collecting tax!
As many as 40% pay no company tax even after they gamed the system, profit gouged and then repatriated all their profits!
And ably assisted by a government too stupid to see that this is happening because of stupid free trade agreements, where all that really happens is, debt-laden foreign investment, we actually pay for at the checkout and through lost revenue streams.
Given this very reasonable reform, 15% would increase internal revenue by around 60 billion+ annually.
Which ought to be redistributed as social benefits, increased pensions, free child care and a more humane jobseeker.
And given those measures are the ones we adopt, allow this extra stimulus to ramp up the discretionary spend and boost the economy right where it needs it!
After that, we need to outlaw the paper shuffling profit demanding middlemen/robber barons Undo the disastrous sale and privatisation deals, water power etc. in the knowledge these same parasitical business models, double the cost of living/doing business.
And we need to harmonise all commercial law, which needs less red and green tape!
The driest inhabited continent on earth must have desalination a the vastly more cost-effective, deionisation dialysis desalination and put water where none now flows, to open up new country and new opportunities for many and without draining wetlands, rivers r aquifers
Time we buried the double tax act of 1954 and just asked that all profits earned here, be taxed at the same rate for all! TBC.
Alan B.