Senexx
Junior Member
Posts: 81
|
Post by Senexx on Aug 22, 2016 5:58:13 GMT
Lift the Tax Free Threshold t o $25000 as per the Henry Tax Review Social Income Support AlternativesLift NewStart to the Poverty Line Begin Indexing NewStart the same as DSP (to wages) from now Tier NewStart at the Poverty Line for the first year and gradually reduce it to the existing NewStart Level in the fourth year because the average lifespan on NS is 4 years or more (https://www.dss.gov.au/sites/default/files/documents/01_2015/sp12_accessible_pdf_final.pdf). A substantial increase in Rent Assistance that is then linked to market movements
Reimplement Rudd's proposed Resource Super Profit Tax (RSPT) but still call it a Mineral Resource Rent Tax (MRRT), just change the guidelines. After all it is just a tax on rent. The harmonisation of payroll taxes with a view to remove them altogether down the track The following personal tax rate system That is Tax Free to 25k, 35% from 25k to 180k and 45% to above 180k Actually I'd play with those numbers a bit more, up the 45 to 47% and have say a 42% bracket in there at I don't know 120k Lots of things to cherry pick here: taxreview.treasury.gov.au/content/FinalReport.aspx?doc=html/publications/papers/Final_Report_Part_1/executive_summary.htm
|
|
|
Post by johncitizen on Aug 22, 2016 21:47:21 GMT
The harmonisation of payroll taxes with a view to remove them altogether down the track Abolishing payroll tax is one of the major forms of stimulus that Warren Mosler talks about. Payroll tax is simply a bad tax. Here is how I would do it: tell the states to abolish their payroll taxes and offer them funding (equivalent to their average payroll tax revenue, and maybe a little extra) if they do. No sane premier would turn down a deal like that. The states that do it would immediately start experiencing the economic benefits.
|
|
Senexx
Junior Member
Posts: 81
|
Post by Senexx on Aug 23, 2016 5:43:28 GMT
Incremental steps. In Australia, it would involve a CoAG meeting and all would have to agree for it to even come into existence. That is my understanding.
|
|
|
Post by Iain Dooley on Aug 24, 2016 2:27:03 GMT
Great discussion and some real policy outcomes here thanks Senexx
|
|