To all,
Yes my figures are 100% gross. Isn't the GST payable on Gross? Trillions...yes there are trillions out there.
I bet the butcher was taking home the best cuts of meat for the family with no recourse to the bookkeeping that says it was income.
I'M bloody sure the restaurant/cafe/takeaway operator takes home 100% of their food needs and writes it off against waste.
I spend a lot of time in the wholesale outlets and I see the trolleys and carts full of goods being bought on the company account but definitely not for resale in their businesses.
How much petrol is bought on the company account and used to take the kids to school or weekend jaunts in the 'company'4x4.
There is not a small business operator who can claim a 100% honesty rating.

It's a little scary, how little people understand about basic taxation issues.

Arjay, you should know better by now than to attempt anything to do with numbers. You know i) you'll get it wrong, and ii) that I am going to call you on it.

>>The new tax free threshold has moved from $6,000 to $18,200.This means that $12,200 difference per working person which was previously taxes at 15% must be found elsewhere.This is a tax loss to the Govt of $1800 per working person.<<

The effective threshold was $16,000, not $6,000, thanks to the Low Income Tax Offset of $1,500, which equates to $10,000 at 15%. That has now gone.

You also ignored the fact that the entry level tax rate - i.e. above the tax-free threshold - has moved up from 15% to 19%.

It's all here:

http://www.ato.gov.au/individuals/content.aspx?doc=/content/12333.htm

So a better equation would have been

Lost: 15% of $2,200 = $330

Gained: 4% of ($37,000 - $18,200) = $752

Except, of course, not everyone earns the $37,000 that is needed to make this sum work. So the actual gain/loss would have been carefully worked out on the numbers of people paying tax in the bracket $18,200 to $37,000

I somehow doubt the difference was particularly great, especially as we are talking low-income bracket here...

But today's prize for Gonzo math has to go to chrisgaff1000

>>Now just say only 20% of this figure is true then we a missing out on $7,050,000,000,000.<<

Sweety, that's seven trillion dollars. In tax. At 10%.

Do you have any idea what the total annual retail sales are in Australia, upon which GST is based?

Didn't think so.

Whatever you're smoking, it is damaging your brain.

Bazz,
The USA has not tried a sensible alternative.

The US government has not put the newly created money into construction of infrastructure for the future such as fibre-optics communications cabling or upgraded electrical power systems or into the repair and upkeep of existing infrastructure such as decaying bridges, highways and power stations. The USA government has put those extra dollars into circulation without buying anything worthwhile in exchange for them and thus stimulating the real market.

Instead they have pushed the funds into the banking system to be spent as the banks and speculators see fit. They are in effect setting the stage for a repeat of the GFC.

The USA has two major advantages over all other trading nations. The $US is both the accepted trading currency and the international reserve currency. That allows US firms to spend newly created dollars to buy goods and services and even corporations everywhere in the world for virtually no cost unless the target country applies restrictions, something our sovereign government is loath to do.

China has accumulated massive numbers of $US and cannot spend them in the USA. So they are trying to obtain assets in Australia. At least the Chinese have obtained their dollar balances in exchange for real goods sold into the US market.

Pericles your own ref to the ATO proves my point.
2011 -2012 0-$6000 no tax. + 15% tax to the next bracket.
2012-2013 0-$18200 no tax + 19% tax to the next bracket.
All the other tax brackets are virtually unchanged.

The reason why Pericles issues such invective is because I speak a lot of truths about 911 and the criminal international finance system which is involved in these wars of imperialism.

BTW Pericles I watched Borat after many years and this the golden line I missed. Borat,"Azamat said that we should not fly to California because the Jews might do their repeat of 911."

Another good line when Borat was addressing the Rodeo, "I support you in your war of terror." Sasha Baron Cohen is Jewish and that's why he got away with so much.

Not all Germans were Nazis and not all Jews are Zionists.

Actually Chris, most food businesses have a provision in thier accounts for 'good own use' so we do pay tax, as this is classed as drawings.

We do pay cost price, which is a bit of a reprieve, but we need a break, given the hassle involved in running a small business today.

I am afraid small business, esspecially retail, is fast becoming a high risk venture.

We not only have to find huge fit out costs, security bonds etc, but we also have to risk our house if we have to borrow, which most these day do.

All this on top of the risk of facing the prospects of more supermarkets within our area.

My fear is that small retail will never recover.

In fact, it's my prediction.

rechtub,if retail goes as you suggest and we have little manufacturing.The CO2 tax makes us even less competitive with OS businesses.They are attacking the farmers and the Mining Industry is the only one now remaining strong.

We need to put pressure on the RBA to start creating money like the private Federal Reserve does.This will save us right now $30 billion + interest in taxes.Our Banks borrow 30% of mortgage money from private banks who just create it with the click of a computer mouse.