Tax Summit
Thanks to an ageing population, Australia is facing a budget black hole. We must cut social spending to plug the gap and more Australians need to move from welfare into work, tax expert Greg Smith told this week’s Tax Forum.
But as the media and welfare lobby were quick to point out, unemployment is relatively low by world standards. The dole is already lean and mean, leaving little room for cuts.
Instead, reforms should focus on a much more intractable issue: Disability Support Pension.
Continue reading "We must crack down on the Disability Support Pension" »
When governments find themselves in a corner there are two things they will do in a bid to turn things around - try to spend their way out of trouble and buy votes, or resort to cheap populism.
John Howard might be one of the greatest conservative PMs Australia ever had but he spent his way out of trouble at the 2001 and 2004 elections with billions and billions in outlays for families and the aged, much to the anger of his Treasurer Peter Costello who regarded Howard’s tactics as profligate and reckless.
When Mark Latham was making headway ahead of the 2004 poll with his populist call for an end to the MPs’ super gravy train, Howard stunned colleagues by simply copying Latham’s policy to neutralise the Labor leader’s surge. It was one of the few times Howard was ever confronted aggressively inside his cabinet, with foreign minister Alexander Downer denouncing the PM for caving in.
Continue reading "Tax forum: Game changer or top notch gabfest?" »
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I get so frustrated with Government talkfests. Their fancy name is a “Summit”.
Whenever there’s a big issue facing this country which the politicians don’t know how to resolve without offending someone, they hold a “Summit” so they can “consult” with the community.
A whole lot of associations and lobby groups with vested interests are thrown together for the Summit, recommendations are made which politicians say they’ll “consider” and which are then promptly shelved, never to be heard of again.
Continue reading "Help Kochie talk some tax sense into the government" »
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Reputation Thrusters is a company that provides the following services: 1. on-line reputation administration 2. posting 5 stars reviews about services, products, businesses, websites 3. website design, development and S.E.O. advice All of our services improve your ratings on major search engines, like Google, Yahoo and Bing, making your business… Read more »
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Edsel says:
Good comment Mr Nobel! I have yet to see a credible argument for anything to be tax deductible - apart from special pleading, of course. Read more »
It’s a little unfashionable to come out in favour of taxation these days.
If you read the debate about our tax system, you’d think the only issue is about how quickly we can cut taxes and get this thing called government off our backs.
The debate about tax has been skewed towards the views of business, and a view that the national wellbeing is nothing more than the sum of corporate balance sheets. A view that if it’s possible for a small percentage of the population to earn big salaries, then everyone else must be doing okay.
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Wayne Swan’s October tax summit is set to deliver on public expectation, but don’t get too excited just yet. Expectations of root and branch tax reform are lower then the chance of Julia Gillard keeping her next promise.
Australia’s productivity slump cries out for sharp and fierce action to remove the dead wood our economy is carrying. But you won’t find relief anywhere in the Treasurer’s plans.
If the release of the Treasurer’s insipid discussion paper is anything to go by, the same few unenthused journalists might make an appearance to cover the announcement of the 1 or 2 revenue neutral changes that will eventuate from this talk fest.
Continue reading "Swan’s Canberra summit is a massive tax dodge" »
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Arnold says:
Steve, Low income earners are the greatest beneficiaries of franking credits (as well as superannuation funds). Contrary to what AdamC has let you believe, Australian residents receiving franked dividends are always entitled to the tax credits already paid by the company. What this means, is that if you are a… Read more »
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Arnold says:
Dash, As a fellow accountant, I applaud and support most, if not all your comments on this page. I would however implore you not to forget the slashing of superannuation contributions thresholds (by 50%) since Labor took power, in addition to the plethora of new taxes being legislated which you… Read more »
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