GST revisited - Who will be the winners (and more important, the losers)

[WCE1987]

When's the COAG? I'm sure that now we are a labor state those other labor states will be happy to share some GST love .

 

[Kwality]

When's the COAG? I'm sure that now we are a labor state those other labor states will be happy to share some GST love .

Cant see any Premier giving up one cent .... NSW see the writing on the wall, less is coming.

IMHO WA should push the power agenda - WA reserved gas for local use about 2006 & there was very little LNG in Qld - the Qld Govt are demonstrably at fault & should be hammered mercilessly looking for the Feds to bankroll a fix for their own blunders.

 

[Crankyhawk]

Raise the rate. What better incentive can you give someone? It will encourage the rich to get up some pluck, work harder and earn more money to maintain their lifestyles.

Doesn't that just give more incentive to use things like negative gearing (which I think is OK for investments that aren't residential property) but as residential property gets neg geared, it screws over first home buyers from higher home prices?

 

[Crankyhawk]

What a load of spin. Jack points out he pays his fair share and you twist it back to condoning paying the least you can get away with. Rich people using accountancy to 'minimise' taxes is sh*t and should be stopped.

There will always be some excuse people will reach for to self-justify their tax minimisation. While saying that 'the debt' is the biggest issue, the same people will spend thousands to save thousands in tax. It all adds up and then you get people thinking a vote for d*ckheads or far right/left groups are the answer because the rich get richer. Nup. If people paid their taxes as the legislation initially intended, we'd have the fairer society the vast majority claims to want.

There is bugger all trickle down. Rich people spend their extra $ on electronic cork removers, and then have to search for fancier wines which still have corks.

You would be stupid not to aim to minimise your tax.
What is needed is simpler tax policy without loopholes/ exceptions/ special clauses for industry X/ employment group Y, thereby removing the incentive for the parasitic industry of tax accountants to exist.

 

[Crankyhawk]

And "the usual" from WA is that they want more. To the extent that everyone knows that's WA's "usual". I don't think many know the "usual" for other states.

Don't be fooled by this review. WA will get a higher return no matter what. The calculation runs on a lag and so the small amount WA has been getting is due to the big revenues it got in the mining boom. Now that is tailing off, GST will go back up. A review will buy some time until that is happening anyway.

I can't see why WA should be happy or GAF about what eastern and the other small states want. What is their incentive to fall into line?

 

[AM]

The GST was supposed to have an impact on the black economy. That worked well!

 

[Power Raid]

https://thewest.com.au/politics/fed...eined-in-by-treasurer-ben-wyatt-ng-b88441907z

The West Australian can reveal that a quirk in the way the Commonwealth Grants Commission allocates the GST means if the State Government manages to bring public sector wages into line with the private sector, WA will end up with even less cash.

So for those playing a long at home, the current system penalises wage restraint, smaller remote communities and developing mining, while rewarding pokies, massive public service spending and putting the handbrake on primary industry.

Federation going swimmingly.

Lunacy

Fortunately we give bonuses to director generals for spending more money. That should ensure management is aligned with wasting money

 

[Power Raid]

so the libs have gone for a lazy bank tax to hit Australian's but not international business operating here. perhaps GST would have been a better financial option but an easy political option was taken.

 

[JackOutback]

The rationale for the bank levy is that the government provides security to our banks, which is worth something in real monetary terms. The Australian government provides no such guarantees to international banks.

 

[Power Raid]

The rationale for the bank levy is that the government provides security to our banks, which is worth something in real monetary terms. The Australian government provides no such guarantees to international banks.

they don't provide that guarantee all the time

this is great politics as they know the electorate will be blinded by bank bashing and not bother to see how it actually works (the banks will pass this on)