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New NDIS Levy (Read 9378 times)
John Smith
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New NDIS Levy
May 1st, 2013 at 10:05am
 
Gillard has announced a levy of .5% to fund the NDIS scheme .


http://au.news.yahoo.com/queensland/a/-/latest/16957956/gillard-set-to-announce-...

I personally don't mind paying a little extra for this type of service, especially if it can help a lot of my opponents on this forum, who will most likely complain about it.
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« Last Edit: May 1st, 2013 at 2:59pm by John Smith »  

Our esteemed leader:

I hope that bitch who was running their brothels for them gets raped with a cactus.
 
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Swagman
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Re: New NDIS Levy
Reply #1 - May 1st, 2013 at 10:53am
 
Regardless of the merits of the scheme Smithy as advised many times on this forum by me, Rudd and Gillard Labor's buy now and pay later spending sprees, would be, in effect, future income tax increases. Angry

This has now come to fruition. Angry

The levy is required because the Govt since taking office has irresponsibly overspent by $271 Billion and climbing and has consistently failed to balance the budget despite an unpresendented mining boom.

Ironically the interest on this climbing debt (around at least $8 Billion per annum) would come close to covering the cost of the NDIS.

Now the minority that pays the majority of tax has to reach into its pocket yet again to pay the lion's share of Labor's fiscal irresponsibiliy and broken promises.  It is a sad and broken record.   Sad Sad Sad Sad

IMO the fairest option should a tax increase be required would be to increase the GST to cover not only this scheme but the whole health and education funding shortfalls.  This has not been mentioned by any side of politics to my knowledge, not even discussed.

Correct me if I'm wrong (I'm sure you will) but the medicare levy is paid by individual income taxpayers and not companies?

Personal income tax payers are a declining breed as a percentage of the population.  The baby boomers are retiring in droves and dropping off the list of income tax payers and the compounding burden of payment of Govt is falling upon fewer tax payers. Shocked

One of the reasons the GST (broad based tax) was introduced was due to the aging of the population issue and the problems this would have for the budget. Undecided
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Bobby.
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Re: New NDIS Levy
Reply #2 - May 1st, 2013 at 10:57am
 
I predict that all taxes will rise no matter who gets into power
to pay for Labor's debt.

This 0.5% levy is just the first one.
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longweekend58
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Re: New NDIS Levy
Reply #3 - May 1st, 2013 at 11:20am
 
no matter what you think of the worth you do have to be gobsmacked by another example of Gillards idiotic political strategy thinking.  a TAX increase is hardly something to garner votes.  Thats another 5 seats for the coalition.  Perhaps the prediction of a 100 seat majority is not that out of contention?
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AUSSIE: "Speaking for myself, I could not care less about 298 human beings having their life snuffed out in a nano-second, or what impact that loss has on Members of their family, their parents..."
 
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Swagman
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Re: New NDIS Levy
Reply #4 - May 1st, 2013 at 11:22am
 
Bobby. wrote on May 1st, 2013 at 10:57am:
I predict that all taxes will rise no matter who gets into power
to pay for Labor's debt.


The problem with increasing taxes especially in a fiscal downturn is the disincentive effect that it has on spending.  As the Laffer theory claims that increasing taxes can sometimes ironically lead to decreased tax revenues due to reduced economic activity and less profitability.

A GST increase would have the same impact.

That's why the Productivity Commission did not recommend increasing taxes to pay for the NDIS.



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longweekend58
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Re: New NDIS Levy
Reply #5 - May 1st, 2013 at 12:32pm
 
Swagman wrote on May 1st, 2013 at 11:22am:
Bobby. wrote on May 1st, 2013 at 10:57am:
I predict that all taxes will rise no matter who gets into power
to pay for Labor's debt.


The problem with increasing taxes especially in a fiscal downturn is the disincentive effect that it has on spending.  As the Laffer theory claims that increasing taxes can sometimes ironically lead to decreased tax revenues due to reduced economic activity and less profitability.

A GST increase would have the same impact.

That's why the Productivity Commission did not recommend increasing taxes to pay for the NDIS.





but a GST increase that removed payroll tax and stamp duty and a few other govt charges and was effectively revenue neutral or near enough could increase economic activity in a small way as well as preserve govt revenues in the future. The GST was originally revenue neutral but has grown to be a notable supplier of funds
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AUSSIE: "Speaking for myself, I could not care less about 298 human beings having their life snuffed out in a nano-second, or what impact that loss has on Members of their family, their parents..."
 
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Dooley
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Re: New NDIS Levy
Reply #6 - May 1st, 2013 at 1:08pm
 
That's a drop in the bucket. If she was smart she should really have raised it more than double what it is now. That way the dental health scheme could have been funded with hopefully more productive outcomes for the broader community.

Take a larger burden off the general budget for health needs through a set tariff that everyone pays - no matter what your income is. then  there is no need to get state gov ratification to increase the GST - which is what we really need instead - a GST of around 15%. Let those with money to spend be the ones who pay the taxes..................... Those without are cared for...
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Swagman
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Re: New NDIS Levy
Reply #7 - May 1st, 2013 at 1:12pm
 
It would have to be revenue positive or else there'd be no point.

I favour a GST increase because the funding burden is spread.

IMO GST (increases / decreases) would be a more effective means of monetary policy anyway and should be used in lieu of interest rate movements.  The downside is the admin of such policy would be difficult as systems are geared for a fixed percentage but the IT gurus should be able to work that out in this day and age.

Politicians of both sides are scared schitless about even talking about increasing the GST so I expect it will not happen and the minority that pay the majority of tax will continue to get shafted.... Sad
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John Smith
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Re: New NDIS Levy
Reply #8 - May 1st, 2013 at 3:02pm
 
Swagman wrote on May 1st, 2013 at 10:53am:
Regardless of the merits of the scheme Smithy as advised many times on this forum by me, Rudd and Gillard Labor's buy now and pay later spending sprees, would be, in effect, future income tax increases. Angry

This has now come to fruition. Angry

The levy is required because the Govt since taking office has irresponsibly overspent by $271 Billion and climbing and has consistently failed to balance the budget despite an unpresendented mining boom.

Ironically the interest on this climbing debt (around at least $8 Billion per annum) would come close to covering the cost of the NDIS.

Now the minority that pays the majority of tax has to reach into its pocket yet again to pay the lion's share of Labor's fiscal irresponsibiliy and broken promises.  It is a sad and broken record.   Sad Sad Sad Sad

IMO the fairest option should a tax increase be required would be to increase the GST to cover not only this scheme but the whole health and education funding shortfalls.  This has not been mentioned by any side of politics to my knowledge, not even discussed.

Correct me if I'm wrong (I'm sure you will) but the medicare levy is paid by individual income taxpayers and not companies?

Personal income tax payers are a declining breed as a percentage of the population.  The baby boomers are retiring in droves and dropping off the list of income tax payers and the compounding burden of payment of Govt is falling upon fewer tax payers. Shocked

One of the reasons the GST (broad based tax) was introduced was due to the aging of the population issue and the problems this would have for the budget. Undecided


Companies don't pay GST either, or at least not in the long run ... they claim it back. It is the individuals or consumers that pay the GST (ie, taxpayers and pensioners and unemployed)
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Our esteemed leader:

I hope that bitch who was running their brothels for them gets raped with a cactus.
 
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Dooley
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Re: New NDIS Levy
Reply #9 - May 1st, 2013 at 3:03pm
 
your right. but at least this way we get to actually predetermine through proxy anyway, where the levy raised is spent.   I'd like to see a future LIb gov try and turn this one into just another form of gov revenue raising......  Smiley

it's not just that they are poo scared of it though, it would be nigh on impossible to actually have alllt eh states agree to raising the GST percentage.  Political hari kari
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Dooley
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Re: New NDIS Levy
Reply #10 - May 1st, 2013 at 3:07pm
 
John Smith wrote on May 1st, 2013 at 3:02pm:
Swagman wrote on May 1st, 2013 at 10:53am:
Regardless of the merits of the scheme Smithy as advised many times on this forum by me, Rudd and Gillard Labor's buy now and pay later spending sprees, would be, in effect, future income tax increases. Angry

This has now come to fruition. Angry

The levy is required because the Govt since taking office has irresponsibly overspent by $271 Billion and climbing and has consistently failed to balance the budget despite an unpresendented mining boom.

Ironically the interest on this climbing debt (around at least $8 Billion per annum) would come close to covering the cost of the NDIS.

Now the minority that pays the majority of tax has to reach into its pocket yet again to pay the lion's share of Labor's fiscal irresponsibiliy and broken promises.  It is a sad and broken record.   Sad Sad Sad Sad

IMO the fairest option should a tax increase be required would be to increase the GST to cover not only this scheme but the whole health and education funding shortfalls.  This has not been mentioned by any side of politics to my knowledge, not even discussed.

Correct me if I'm wrong (I'm sure you will) but the medicare levy is paid by individual income taxpayers and not companies?

Personal income tax payers are a declining breed as a percentage of the population.  The baby boomers are retiring in droves and dropping off the list of income tax payers and the compounding burden of payment of Govt is falling upon fewer tax payers. Shocked

One of the reasons the GST (broad based tax) was introduced was due to the aging of the population issue and the problems this would have for the budget. Undecided


Companies don't pay GST either, or at least not in the long run ... they claim it back. It is the individuals or consumers that pay the GST (ie, taxpayers and pensioners and unemployed)


And that is just one of the many many many taxes that companies dont pay  __ but they still DEMAND and GET equal status before the LAW in this country.

I say if the (not they, corps aren't a "they") corps want equal representation before the LAW then they should have to take up the same amount of taxation burden. ie pay the same rates of tax a human wage slave does..... and comply with the same moral and ethical obligations - not just the legal obligations that are reluctantly foisted upon them in a crippled half-arsed way so they don't really do anything....... eg the mining tax
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John Smith
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Re: New NDIS Levy
Reply #11 - May 1st, 2013 at 4:05pm
 
Dooley wrote on May 1st, 2013 at 3:07pm:
John Smith wrote on May 1st, 2013 at 3:02pm:
Swagman wrote on May 1st, 2013 at 10:53am:
Regardless of the merits of the scheme Smithy as advised many times on this forum by me, Rudd and Gillard Labor's buy now and pay later spending sprees, would be, in effect, future income tax increases. Angry

This has now come to fruition. Angry

The levy is required because the Govt since taking office has irresponsibly overspent by $271 Billion and climbing and has consistently failed to balance the budget despite an unpresendented mining boom.

Ironically the interest on this climbing debt (around at least $8 Billion per annum) would come close to covering the cost of the NDIS.

Now the minority that pays the majority of tax has to reach into its pocket yet again to pay the lion's share of Labor's fiscal irresponsibiliy and broken promises.  It is a sad and broken record.   Sad Sad Sad Sad

IMO the fairest option should a tax increase be required would be to increase the GST to cover not only this scheme but the whole health and education funding shortfalls.  This has not been mentioned by any side of politics to my knowledge, not even discussed.

Correct me if I'm wrong (I'm sure you will) but the medicare levy is paid by individual income taxpayers and not companies?

Personal income tax payers are a declining breed as a percentage of the population.  The baby boomers are retiring in droves and dropping off the list of income tax payers and the compounding burden of payment of Govt is falling upon fewer tax payers. Shocked

One of the reasons the GST (broad based tax) was introduced was due to the aging of the population issue and the problems this would have for the budget. Undecided


Companies don't pay GST either, or at least not in the long run ... they claim it back. It is the individuals or consumers that pay the GST (ie, taxpayers and pensioners and unemployed)


And that is just one of the many many many taxes that companies dont pay  __ but they still DEMAND and GET equal status before the LAW in this country.

I say if the (not they, corps aren't a "they") corps want equal representation before the LAW then they should have to take up the same amount of taxation burden. ie pay the same rates of tax a human wage slave does..... and comply with the same moral and ethical obligations - not just the legal obligations that are reluctantly foisted upon them in a crippled half-arsed way so they don't really do anything....... eg the mining tax


I think there should be no difference between companies and a private individual, tax rates should be the same for both, and any liability of the company should fall onto it's board of directors. I'm sick of hearing of companies going bust, subbies and suppliers going broke, and the directors get to start another company in another name from the luxury of his waterfront mansion.
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Our esteemed leader:

I hope that bitch who was running their brothels for them gets raped with a cactus.
 
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Swagman
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Re: New NDIS Levy
Reply #12 - May 1st, 2013 at 4:19pm
 
John Smith wrote on May 1st, 2013 at 3:02pm:
Companies don't pay GST either, or at least not in the long run ... they claim it back. It is the individuals or consumers that pay the GST (ie, taxpayers and pensioners and unemployed)


Yes there is that but they won't pay Gillard's levy either.

Don't forget pros, pimps, drug dealers, hawkers, buskers, O/S tourists pay the GST too.... Smiley

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John Smith
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Re: New NDIS Levy
Reply #13 - May 1st, 2013 at 4:56pm
 
Swagman wrote on May 1st, 2013 at 4:19pm:
John Smith wrote on May 1st, 2013 at 3:02pm:
Companies don't pay GST either, or at least not in the long run ... they claim it back. It is the individuals or consumers that pay the GST (ie, taxpayers and pensioners and unemployed)


Yes there is that but they won't pay Gillard's levy either.

Don't forget pros, pimps, drug dealers, hawkers, buskers, O/S tourists pay the GST too.... Smiley



you will never cover everybody .. there is always an element that misses out ... Pre GST , if I quoted $3000 to paint a house (an example that does not reflect any deals I may or may not have made), I would offer a discount of $300 for cash (off the books), after GST was introduced, I still charged $3000 , but this time I would offer to forget the GST for a cash deal.  Thanks Howard for giving me an option to discounting. I got to pretend I was offering a discount, without really offering one. Increasing the GST only makes it more appealing to make more off the book deals.  And the people most likely to take advantage of the off the book deals are pros, pimps, drug dealers, hawkers, buskers, O/S tourists .

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Our esteemed leader:

I hope that bitch who was running their brothels for them gets raped with a cactus.
 
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longweekend58
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Re: New NDIS Levy
Reply #14 - May 1st, 2013 at 5:01pm
 
John Smith wrote on May 1st, 2013 at 4:56pm:
Swagman wrote on May 1st, 2013 at 4:19pm:
John Smith wrote on May 1st, 2013 at 3:02pm:
Companies don't pay GST either, or at least not in the long run ... they claim it back. It is the individuals or consumers that pay the GST (ie, taxpayers and pensioners and unemployed)


Yes there is that but they won't pay Gillard's levy either.

Don't forget pros, pimps, drug dealers, hawkers, buskers, O/S tourists pay the GST too.... Smiley



you will never cover everybody .. there is always an element that misses out ... Pre GST , if I quoted $3000 to paint a house (an example that does not reflect any deals I may or may not have made), I would offer a discount of $300 for cash (off the books), after GST was introduced, I still charged $3000 , but this time I would offer to forget the GST for a cash deal.  Thanks Howard for giving me an option to discounting. I got to pretend I was offering a discount, without really offering one. Increasing the GST only makes it more appealing to make more off the book deals.  And the people most likely to take advantage of the off the book deals are pros, pimps, drug dealers, hawkers, buskers, O/S tourists .



the point was that you still ahve to buy paint and other items and GST is captured at that point. There will always be maggots like you seeking to rip off the system but GST reduces your options.
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AUSSIE: "Speaking for myself, I could not care less about 298 human beings having their life snuffed out in a nano-second, or what impact that loss has on Members of their family, their parents..."
 
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