I know all that. But that doesn't stop the feds doing a direct deal with the states to kill off the tax.The problem is, Payroll Tax is a state thing rather than a federal thing.
One of the outcomes that was SUPPOSED to happen after Howard introduced the GST was that a myriad of state taxes such as stamp duty, payroll taxes etc were going to be removed and replaced with a progressive consumption tax.
Of course, the states renegged on their part of the deal, so we still have these regressive taxes that vary from stste to state.
Blame the states on this one, not the feds.
Mick
Well, they supposedly had a comittment from the states as part of the GST sharing.I know all that. But that doesn't stop the feds doing a direct deal with the states to kill off the tax.
They got close to doing it several times in the past - couldn't agree with the terms.
Howard and Costello were never going to increase the petrol tax nor downgrade personal income tax cuts, so the agreement was watered downThe Howard Government's original plan for the GST envisaged the states abolishing a swag of financial taxes, which in effect would be replaced by the GST. They included:
Then came the GST deal with the Democrats, which removed the GST on food, knocking a big hole in the revenue forecasts. The Democrats proposed that it be filled by paring back the income tax cuts and increasing taxes on petrol — thereby leaving the original agreement with the states intact.
- The financial institutions duty.
- The bank accounts debits tax.
- The NSW accommodation tax.
- Conveyancing duties on transfer of business property.
- A range of other stamp duties on leases, mortgages, sales of shares, cheques and credit arrangements.
Well they may have been reviewed, but the big ones are still there."The Ministerial Council will by 2005 review the need for retention of stamp duty on non-residential conveyances; leases; mortgages, debentures, bonds and other loan securities; credit arrangements, instalment purchase arrangements and rental arrangements; and on cheques, bills of exchange, promissory notes; and unquoted marketable securities."
The only commitment the states made was to "review the need" for these taxes. Heads of federal and state treasuries have been meeting to do so, and this review will come to a head when the treasurers meet on March 23.
Yeah some of the food was subtracted to appease the dems.Didnt the GST end up a watered down mess, as usually happens, by the time it has been through both houses?
I just had a quick look at the figures for Victoria.Yep.. well the reason they didn't agree is because someone forget to tell Costello the maths didn't add up.
GST doesn't remotely cover the stamp duty for starters... and that will get worse in the future.
Not sure what you mean there,But that doesn't stop the feds from directly funding the states in lieu of payroll tax today.
They are already doing it with WA with the GST 70¢ deal.
According to Commonwealth Grants Comission , WA is still being shafted by the GSt, where their relativity index is still sitting 0.41If you have a look at WA Government Treasury website, Payroll tax is still being levied in WA.
About payroll tax
Payroll tax is assessed on the wages paid by an employer in Western Australia and the Indian Ocean Territories.
I just had a quick look at the figures for Victoria.
Vics share of GST was 17billion
The total income ex GST was 19.6 billion.
Stamp duty accounted for 6.4 billion, and payroll tax accounted for 7 billion.
Not sure what you mean there,
According to Commonwealth Grants Comission , WA is still being shafted by the GSt, where their relativity index is still sitting 0.41
View attachment 137176
The ABS says that on a 5 year moving average,GST accounts for about 4.1% of total taxation revenue, slightly ahead of the 3.9% of revenue for all states payroll tax.
Mick
I think the GST will have to be higher than 15%, but time will tell.Sounds good.
How much is the income tax revenue ?
How much would a 15% GST generate ?
Sounds good.
How much is the income tax revenue ?
How much would a 15% GST generate ?
ok boomer! you either listen to to much ABC or SKY
well thats labors current line.
secondly why is it australias responsibility to bring 3rd worlds out of povity why cant they get there **** together?
why did we have to sell our sovereignty out for this?
what future do our kids have?
our standarded of living is declining not encreasing. cost of living is sky rocketing, house prices and no wage growth as its all controlled and manuplited from over seas
garbage gough and bobby whorke introduce this globalist scam where multinationals set up off shore companied and pay little tax then ship jobs off shore to 3rd world companies at the expense of there incompetence and shite cultures for not being able to modernize from being a 3rd world **** hole.
i mean large populated countries should be able to do this far easier!
the same has happened over seas!
so what happens over the next decade and on for Australia?
the younger generations and beyone?
im mean thery thing communism is a good idea and lean to the left & history shows what happens then!
yes globalization and communism was invented by the same people! and the most stupidist of people go along with it!
lenin called you lot "useful idiots!"
you ever wonder why the world hates Putin for being a nationalist?
Trouble is, what replaces him is no less depressing and comes with just as much baggage.When Morrison describes the aspirations of Australians, it’s like reading a Hallmark card. He never braves the harder stuff, the values a democracy depends on to function. Truth be told, I can’t work out what values excite him politically. Except winning. In some ways he’s the Liberal Party’s Kevin Rudd, only less annoying.
Do you mean Albanese or Morrison's Liberal Party enemies (sorry, colleagues).Janet Albrechtson is one of the better writers around, and like myself a small "l" liberal, which means youget abused by both sides of politics.
Today, in one paragraph writing in the Australian, she summed up all that is wrong with Scott Morrison.
Trouble is, what replaces him is no less depressing and comes with just as much baggage.
Mick
It's a no win, either wayDo you mean Albanese or Morrison's Liberal Party enemies (sorry, colleagues).
Comparing as % to GDP/capita (in US$) year on year reveals some truths about personal income taxView attachment 137185
Kinda hard to say as it does not say whether things like capital gains, FBT , are included and where.
If we add 50% increase to the GST, and include all the items that are currently tax free, you could well get there.
Need acess to some treasury and ATO data that is not available to us mere mortals.
Mick
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