I want to pay more tax!

Thought that would get you.

The millionaires who want to pay more tax

The chair of Paddy Pallins has done a reasonable job of structuring his assets and pays less tax than the next bloke - do we need a violin or should this be his chance to be even more philanthropic?

 

"Taxes that reward asset-owners and punish wage-earners leading society into crisis, say experts"


I guess asset owners pluck their incomes from the sky.

 

There is a argument for this.

Work hard and operate a small business and pay personal tax up to 47%. Work as a employee and pay up to 47% PLUS levies and surcharges like Div 293, Medicre levy and compulsory health...
Or just buy a hold an asset and pay 25.5% (Max!) or even 0% if small business concessions or the main residence exemption or for pre-CGT assets.
Many owners are asset sitters. They are only seeking to hold for profit and its driving scarcity which further fuels prices. Driven by tax incentives that include neg gearing, possible changes to NSW duty and low rates with a abundant lender market. I do question how long our tax system can subsidise this scale of leverage.

Why has Mike Cannon-Brookes bought up the most costly property on the harbour AND those around it ? Tax free ownership. As long as its all under 2HA its all tax free. Kerry Packer did much the same. They would be mad not to use the tax system to save them some taxes. They can afford to. Its also diversification. And hard assets that can be borrowed against.

 

Hang on buddy.
Don't you have the money tree next to your lemon tree?
I have a dozen money saplings. I just need to water it and nourish it.

 

Yep, just behind my gold leaves tree.....

 

Good! You can pay mine!

 

I didn't say that I wanted to pay anyone else's tax though.

 

I'd be happy to pay $1M per annum in tax (if I actually had to do very little)
It'd mean (or should mean) I'm earning considerable amounts with little effort

*my "money tree" is also near my lemon tree.....

It's never produced anything
I'm blaming seepage, largely from my urinating on the lemon tree (too acidic)
Edit: failure of the money tree could also be blamed on my regular and repetitive swearing at it (rather than talking to it nicely )......

 

I definitely think that we (virtually everyone here has a wealth above average, some significantly so) should be paying more tax!

 

I don't agree that just because some folks make more money than others, they should have to disproportionately pay more.


Anyway doesn't matter what I, you or anyone else thinks.

All that matters is making your vote count.

I know who I'll never be voting for.

 

The young wage earner in the story in reality would pay a very very small amount of tax. She just thinks she's being hard done by tax wise.

Old man Pallin clearly forgets about his early lean years, building business skills and all the risk taking to grow the business assets.

 

I paid tax once. Didn't much like it so decided not to do it again. I just don't tell the taxman about my golden chicken.

 

I don't! I buy & sell houses. The amount of Stamp Duty I've had to pay since 'retiring' is ridiculous. Huge tax when I buy, and more tax when I sell. I think I'm doing my part.

 

@skater they already tax the **** outta us. You blink and you're taxed.

More taxes is totally ridiculous.

 

Exactly! They need to look at taxing the BIG end of town. The multinationals etc, who pay little to no tax. We're already doing our part.

 

Pay more tax? What for? So that every backbencher in Canberra can get a pay rise lol?

Taxes in Australia are some of the highest in the world, the efficiency of how those taxes are spent could alone generate so much more productivity and GDP then currently.

If you think the government is efficient with how it spends, just try to open a mygov account and link your medicare haha, it took me a whole day and I am very tech savvy.

Btw, everyone forgets the biggest tax of them all... inflation.

 

We are the big end of town!

Maybe not the very end, but many people in this thread would have multiple times the median networth or income.

Sorry, that's just not true, at least not if you're talking about first world countries, which we should be. It's a misrepresentation of how healthcare is funded in much of Europe.

 

Which countries tax their citizens the most?

Basic healthcare in most European countries is free for citizens (source: I'm European.) So is University.

 

Besides GST, do people still pay tax?

 

Stamp Duty & CGT - ALL THE TIME!!