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The Forum > General Discussion > Extend the GST to Share Trades.

Extend the GST to Share Trades.

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SM,
I'll accept that sometimes electorates are so large that MP's might benefit from multiple offices in numerous cities.
I'll go along with that, simply because I believe its important to have a place for them to hold meetings, but it would have to be used more than a few times a year to be justified, not sit empty while taxpayers pay for it 'just in case' an MP needs to use it.
(That said they should be going out into the public space, not having the public come to them.)
I don't like the idea of furnishing numerous offices but I'd go along with it if it was done within reasonable expense.
If you can't do it with 20K for a desk, a computer and wall paint and then its too expensive.
But I draw the line at having to pay numerous secretaries and admin staff for all these offices in today's tech-driven world.
That is an expense that is definitely not necessary.
Posted by Armchair Critic, Tuesday, 26 April 2016 2:36:13 PM
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Taxing share purchases is moronic.

It will destroy access to investment capital, halting projects, costing jobs and ultimately destroying whats left of our economy. - How will this occur.

I also disagree because what it will do stabilise the share market by attracting long term investors. Short term speculators harm market anyway.
Posted by Referundemdrivensocienty, Tuesday, 26 April 2016 8:29:14 PM
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Shadow, now you would not be prone to exaggeration by any chance would you, describing Mt Gambier and Murray Bridge as "cities", Given neither has a population in excess of about 25,000, that would make Dubbo and Bathurst in NSW megalopolises. These two places are no more than country towns, even by Australian standards. Neither are in the top 50 in Australia by population, Alice Springs is larger.
Based on Bronny and Barneys 'choppergate' costs your man Tony Baloney could have used a helicopter 50 times in 3 years to fly from Murray Bridge to Mt Gambier and back.

I agree with Armchair Critic.

Mr Pasin defended his spend, saying the work done was “similar to equivalent newly established premises for MPs”, particularly in regional locations where there are no existing offices.
And in case you were concerned the furniture would pale in comparison to the distressed oak floorboards, the Barker MP also spent $140,130.84 on facilities and $117,512.49 on administrative costs. Now that’s a Reno Rumble. DISTRESSED OAK FLOORBOARDS INDEED.

The next question; How much actual time (and this bloke has plenty of times on his hands since been given the flick from that committee back on 22nd October 2015.) has this bloke spent in his swanky new Mt Gambier office, less than 3 weeks in 2 1/2 years, that at a cost of about 170,000 per week.
Posted by Paul1405, Tuesday, 26 April 2016 8:30:58 PM
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Because not even a FOOL would buy shares if they had to lose 10% off the top on an investment product.

You invest in things every day, kids education, insurance on the car, the house, perhaps health insurance, security appliances etc, etc and you pay 10$ tax on them, do you feel like a fool for doing that?

You want it so you buy it and pay the tax.

How would shares be any different?
Posted by Referundemdrivensocienty, Tuesday, 26 April 2016 9:27:20 PM
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Paul1405,
Mount Gambier and Murray Bridge are cities. Your failure to recognise that is merely an error on your part. It's true that they're both outside the top fifty, but that just means Australia has more than fifty cities.FWIW they're both in the top ten cities in SA (by conurbation population).

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Referundemdrivensocienty,
Most people buy shares only to make a profit, whereas the other "investments" you mentioned are things that enable them either to do what they couldn't otherwise do or to avoid unexpected costs.
Posted by Aidan, Tuesday, 26 April 2016 10:39:37 PM
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Referundemdrivensocienty,
How does charging people to invest attract people to invest?
You clearly haven't thought this through, have you?
Short term investors provide liquidity.

Do you know anything about shares at all?
Have you ever owned or traded them?
The amount of shares on issue multiplied by the share price equals the market cap, or what people think the company is worth.
What you are suggesting undermines that whole valuation process.

Why am I going to invest $100, when I know I'm only going to get $90 worth of stuff?
As an investor I'm going to find a different vehicle for my investment, one that doesn't charge me a royalty and leave me open to an instant 10% loss 'just for investing'.

What if you played the pokies and put $10 in a 1 cent machine and only got 900 credits, would you think that was fair?

Your idea isn't even equal to being a tax, it equals blatent government theft.

And finally why don't you look at where government wastes money, rather than coming up with ways to destroy the economy and tax the Australian public more?

Actually, why don't you just go and learn for yourself why this is dumb instead of arguing with my opinion and wasting both our times?
All your plan does is create new problems while achieving nothing.

And it's not goods or a service its a financial product, the same as money.
If you want to tax people who profit from shares more increase the capital gains tax on those profits.
Its not rocket science.
Posted by Armchair Critic, Wednesday, 27 April 2016 3:57:56 AM
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