@thefridge1982 I may be a simpleton but I have an idea on how to bring the tax system into an equal playing field.
Get rid off income tax.
Now hear me out...
This will increase every person's income who earns an income... they will spend more money and thus more GST revenue. That revenue should go to maintaining the state that it comes from less say 20% which goes to federal parliament for running costs, millatary etc...
Now. We also introduce an tax on ALL money that it taken out of Australia. Around 20%.
This will encourage local spending and investment.
Products that can be made in Australia but are imported should also have an excise applied at 20%.
Now the values shown may need to be different for there to be enough tax to cover our operating expenses etc..
This will do many things that would positively influence our country.
1. People will want to earn more money and work more jobs as they are not penalised for earning more.
2. Local manufacturing would be boosted as it would cost more to import some products.
3. As local manufacturing increases, so does the base material needs increase and lost industries are rediscovered.
4. Housing prices come down as investors no longer can use negative gearing to reduce their tax debt
5. More local tourism. Less people will go to Bali as suddenly its 20% dearer.
If you can think of any other benifits, prey tell
