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What would happen if we abolished income tax? (Read 1293 times)
Auggie
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What would happen if we abolished income tax?
Jul 10th, 2019 at 8:40pm
 
I've been thinking recently, what would happen if we reduced income tax to zero? Sure, there would be a giant hole in the budget in social services; but I'm thinking about what would happen to the economy overall? Those who work would undoubtedly benefit. Would the extra disposal income recirculate through the economy and create even more jobs? Or would it be a short-term benefit only?

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Re: What would happen if we abolished income tax?
Reply #1 - Jul 10th, 2019 at 9:02pm
 
So....where does Government get its grab?  Just GST?
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Re: What would happen if we abolished income tax?
Reply #2 - Jul 10th, 2019 at 11:50pm
 
I am such a low-income earner that the government just hands me back my income tax during my tax returns. I volunteer $30 a fortnight from my Centrelink. And work barely taxes me, since I earn around $500 a week.
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Re: What would happen if we abolished income tax?
Reply #3 - Jul 11th, 2019 at 12:34am
 
Auggie wrote on Jul 10th, 2019 at 8:40pm:
I've been thinking recently, what would happen if we reduced income tax to zero? Sure, there would be a giant hole in the budget in social services; but I'm thinking about what would happen to the economy overall? Those who work would undoubtedly benefit. Would the extra disposal income recirculate through the economy and create even more jobs? Or would it be a short-term benefit only?




What drives you to assume, without any reason, that social security is the ONLY cost to any budget?

There are countless costs to the budget - many of them 'dedicated' to putting certain groups 'back' into the workforce.

What is needed is a total review of ALL government spending on the taxpayer dime......
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Re: What would happen if we abolished income tax?
Reply #4 - Jul 11th, 2019 at 5:04am
 
I am not a high income person.

But the grubberment steals close to 45 grand from me every year.

And when my last job shut down, the thieving base turds stole nearly 150 grand from my redundancy payout.

Long service leave, what gives them the right to steal closer to 28% of that?
My bonus for years of hard work, they get 45% of that, I worked hard for that, they did nothing for me at all.

Any perks I get are taxed, company car, free travel and shares.
Out comes the thieves with their hands out.

But, and of this you can be sure,
None of the politicians or senior public serve us cop the same treatment.
They have a million little tricks and traps to avoid them
All written in law and set up so they and theirs get max while giving little.

Without income tax, these thieves woukd have to find some other form of income.
Or perhaps cut back on their perks.......which will never, ever, ever happen.
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Captain Caveman
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Re: What would happen if we abolished income tax?
Reply #5 - Jul 11th, 2019 at 5:20am
 
Just take away the massive pensions that these gov frauds pay themselves. All assets taken into account upon retiring too. No more us and them. They get....what we get.
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Re: What would happen if we abolished income tax?
Reply #6 - Jul 11th, 2019 at 5:27am
 
Captain Caveman wrote on Jul 11th, 2019 at 5:20am:
Just take away the massive pensions that these gov frauds pay themselves. All assets taken into account upon retiring too. No more us and them. They get....what we get.


One pension for all
One assett test for all.
One law for all.
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Gnads
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Re: What would happen if we abolished income tax?
Reply #7 - Jul 11th, 2019 at 8:04am
 
Valkie -

How is it that you were taxed on redundancy? Must have been a big one.

The redundancies paid out in my industry have been tax free .... the only thing you paid tax on was you accumulated Annual Leave & Long Service leave.

Our redundancy went from 104 weeks max to 124 weeks max.

So had I got one it would have been worth over $200K ..... approx 2 years wages.
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« Last Edit: Jul 11th, 2019 at 8:13am by Gnads »  

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Re: What would happen if we abolished income tax?
Reply #8 - Jul 11th, 2019 at 8:30am
 
[quote author=Gnads link=1562755232/7#7 date=1562796272]Valkie -

How is it that you were taxed on redundancy? Must have been a big one.

The redundancies paid out in my industry have been tax free .... the only thing you paid tax on was you accumulated Annual Leave & Long Service leave.

Our redundancy went from 104 weeks max to 124 weeks max.

So had I got one it would have been worth over $200K ..... approx 2 years wages.
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Construction industry redundancies are taxed. BERT
If you quit it is taxed higher than if you were laid off. Either way...it is still taxed.
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Re: What would happen if we abolished income tax?
Reply #9 - Jul 11th, 2019 at 9:01am
 


ARGUMENT;
We must all ['undertake' to] pay [some level of] taxation, if we live in a nation like Australia.




If we want to maintain a stable political environment/system,
then we [the citizens] need to [materially] contribute to the cost of providing institutions and services which establish and maintain such a stable political environment/system.

With everyone paying a share of the 'upkeep' of those systems is the 'toll' we must all pay.
[and it is the [elected] government which sets up systems to decide, what our individual fair 'contribution' will be.
i.e. if you don't like paying the share of taxation which you currently pay, THEN YOU CAN CHANGE THE GOVERNMENT.]

Police, roads, bridges, hospitals, schools, universities, government bureaucracies which monitor and maintain 'Australian Standards' [in food production, building standards, telecommunication standards, quality control in pharmaceuticals, and on...], courts and the justice system, border controls, national defence spending, and on....

It all must be paid for     [...if we want to have these services and societal institutions, in Australia].




Q.
Where would you rather live ?

A place like Australia ?

Or somewhere like Nigeria, S. Africa, Zimbabwe, or Uganda ?



ARGUMENT;
It is the citizens respect for 'rules' and and the need for taxation, in nations like Australia, which help to maintain the 'standards' which we all benefit from in our daily lives, imo.

[This of course assumes, that our government is NOT incompetent, and is NOT politically corrupt,
in where it will spend our taxes, and in how it undertakes and discharges its duty as a servant of the citizens.]



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Re: What would happen if we abolished income tax?
Reply #10 - Jul 11th, 2019 at 5:41pm
 
should abolish income tax and instead introduce some sort of transaction tax to feed govco.
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Re: What would happen if we abolished income tax?
Reply #11 - Jul 11th, 2019 at 6:36pm
 
Aussie wrote on Jul 10th, 2019 at 9:02pm:
So....where does Government get its grab?  Just GST?


It would be some form of consumption tax, like GST. Luxury items could have a higher tax. Also, tariffs is another source of income but that's obviously controversial.

Other taxes would be on land and property, which would affect high income earners over low income earners.
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Gnads
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Re: What would happen if we abolished income tax?
Reply #12 - Jul 11th, 2019 at 10:24pm
 
Govts can't be trusted.

Our state govts were to abolish several taxes when the GST(which was never going to happen under an LNP Govt lol)was implemented.

That being Sales Tax & Stamp Duty ..... but the greedy bastards have held on to both.

A debit tax was suggested long ago on movement of monies when you use your cards for purchases etc. to replace income tax .....

but that was rejected  ....

as was a flat tax rate for everyone at around 15 cents in the dollar.
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Re: What would happen if we abolished income tax?
Reply #13 - Jul 11th, 2019 at 10:38pm
 
Aussie wrote on Jul 10th, 2019 at 9:02pm:
So....where does Government get its grab?  Just GST?



Yes GST at 60% no income tax we would all be worse off and there would be no benefit.
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Re: What would happen if we abolished income tax?
Reply #14 - Jul 11th, 2019 at 10:39pm
 
Gnads wrote on Jul 11th, 2019 at 10:24pm:
Govts can't be trusted.

Our state govts were to abolish several taxes when the GST(which was never going to happen under an LNP Govt lol)was implemented.

That being Sales Tax & Stamp Duty ..... but the greedy bastards have held on to both.

A debit tax was suggested long ago on movement of monies when you use your cards for purchases etc. to replace income tax .....

but that was rejected  ....

as was a flat tax rate for everyone at around 15 cents in the dollar.


Govts can't be trusted.


They can be trusted to not be trusted ?
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Re: What would happen if we abolished income tax?
Reply #15 - Jul 11th, 2019 at 10:42pm
 
Valkie wrote on Jul 11th, 2019 at 5:04am:
I am not a high income person.

But the grubberment steals close to 45 grand from me every year.

And when my last job shut down, the thieving base turds stole nearly 150 grand from my redundancy payout.

Long service leave, what gives them the right to steal closer to 28% of that?
My bonus for years of hard work, they get 45% of that, I worked hard for that, they did nothing for me at all.

Any perks I get are taxed, company car, free travel and shares.
Out comes the thieves with their hands out.

But, and of this you can be sure,
None of the politicians or senior public serve us cop the same treatment.
They have a million little tricks and traps to avoid them
All written in law and set up so they and theirs get max while giving little.

Without income tax, these thieves woukd have to find some other form of income.
Or perhaps cut back on their perks.......which will never, ever, ever happen.



Redundancy payments are not supposed to be taxed.
See an accountant.
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Valkie
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Re: What would happen if we abolished income tax?
Reply #16 - Jul 12th, 2019 at 11:26am
 
Bobby. wrote on Jul 11th, 2019 at 10:42pm:
Valkie wrote on Jul 11th, 2019 at 5:04am:
I am not a high income person.

But the grubberment steals close to 45 grand from me every year.

And when my last job shut down, the thieving base turds stole nearly 150 grand from my redundancy payout.

Long service leave, what gives them the right to steal closer to 28% of that?
My bonus for years of hard work, they get 45% of that, I worked hard for that, they did nothing for me at all.

Any perks I get are taxed, company car, free travel and shares.
Out comes the thieves with their hands out.

But, and of this you can be sure,
None of the politicians or senior public serve us cop the same treatment.
They have a million little tricks and traps to avoid them
All written in law and set up so they and theirs get max while giving little.

Without income tax, these thieves woukd have to find some other form of income.
Or perhaps cut back on their perks.......which will never, ever, ever happen.



Redundancy payments are not supposed to be taxed.
See an accountant.


Yes they are, at a lesser rate, but you are still robbed by the thieving base turds who want everything you have.
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I HAVE A DREAM
A WONDERFUL, PEACEFUL, BEAUTIFUL DREAM.
A DREAM OF A WORLD THAT HAS NEVER KNOWN ISLAM
A DREAM OF A WORLD FREE FROM THE HORRORS OF ISLAM.

SUCH A WONDERFUL DREAM
O HOW I WISH IT WERE TRU
 
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greggerypeccary
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Re: What would happen if we abolished income tax?
Reply #17 - Jul 12th, 2019 at 11:34am
 
Bobby. wrote on Jul 11th, 2019 at 10:42pm:
Redundancy payments are not supposed to be taxed.
See an accountant.


I was just talking to my accountant about this 10 minutes ago.

It's not entirely tax-free.

There's a tax-free limit, and then you pay a certain amount of tax depending on how many years you've worked for the company (???).

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Bobby.
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Re: What would happen if we abolished income tax?
Reply #18 - Jul 12th, 2019 at 11:39am
 
greggerypeccary wrote on Jul 12th, 2019 at 11:34am:
Bobby. wrote on Jul 11th, 2019 at 10:42pm:
Redundancy payments are not supposed to be taxed.
See an accountant.


I was just talking to my accountant about this 10 minutes ago.

It's not entirely tax-free.

There's a tax-free limit, and then you pay a certain amount of tax depending on how many years you've worked for the company (???).




OK - I got redundancy money in 2013 and
I don't believe it was taxed on that but my long service leave &
holiday pay was taxed.
They got every penny out of me that they could get.
Then when I went to Centerlink they just wasted my time
& gave me nothing.

Centerlink makes you feel like a sucker for working so hard
& paying taxes for all those years.
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greggerypeccary
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Re: What would happen if we abolished income tax?
Reply #19 - Jul 12th, 2019 at 11:42am
 
Bobby. wrote on Jul 12th, 2019 at 11:39am:
greggerypeccary wrote on Jul 12th, 2019 at 11:34am:
Bobby. wrote on Jul 11th, 2019 at 10:42pm:
Redundancy payments are not supposed to be taxed.
See an accountant.


I was just talking to my accountant about this 10 minutes ago.

It's not entirely tax-free.

There's a tax-free limit, and then you pay a certain amount of tax depending on how many years you've worked for the company (???).




OK - I got redundancy money in 2013 and
I don't believe it was taxed on that but my long service leave &
holiday pay was taxed.
They got every penny out of me that they could get.
Then when I went to Centerlink they just wasted my time
& gave me nothing.


Your redundancy must have been under the tax-free limit.

I'm trying to find the tax-free limit now, but the ATO website keeps crashing (just heard on the radio that the MyGov and ATO sites are struggling to keep up with people putting in their tax returns).

As far as Centrelink goes, I would advise people to avoid that place at all costs.

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Bobby.
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Re: What would happen if we abolished income tax?
Reply #20 - Jul 12th, 2019 at 11:46am
 
greggerypeccary wrote on Jul 12th, 2019 at 11:42am:
Bobby. wrote on Jul 12th, 2019 at 11:39am:
greggerypeccary wrote on Jul 12th, 2019 at 11:34am:
Bobby. wrote on Jul 11th, 2019 at 10:42pm:
Redundancy payments are not supposed to be taxed.
See an accountant.


I was just talking to my accountant about this 10 minutes ago.

It's not entirely tax-free.

There's a tax-free limit, and then you pay a certain amount of tax depending on how many years you've worked for the company (???).




OK - I got redundancy money in 2013 and
I don't believe it was taxed on that but my long service leave &
holiday pay was taxed.
They got every penny out of me that they could get.
Then when I went to Centerlink they just wasted my time
& gave me nothing.


Your redundancy must have been under the tax-free limit.

I'm trying to find the tax-free limit now, but the ATO website keeps crashing (just heard on the radio that the MyGov and ATO sites are struggling to keep up with people putting in their tax returns).

As far as Centrelink goes, I would advise people to avoid that place at all costs.




Centerlink doesn't want to pay you anything unless
you're a drunk lying in the gutter with an empty bottle of wine
and no money at all.
They means test everything even the DSP.
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greggerypeccary
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Re: What would happen if we abolished income tax?
Reply #21 - Jul 12th, 2019 at 1:47pm
 
greggerypeccary wrote on Jul 12th, 2019 at 11:42am:
Bobby. wrote on Jul 12th, 2019 at 11:39am:
greggerypeccary wrote on Jul 12th, 2019 at 11:34am:
Bobby. wrote on Jul 11th, 2019 at 10:42pm:
Redundancy payments are not supposed to be taxed.
See an accountant.


I was just talking to my accountant about this 10 minutes ago.

It's not entirely tax-free.

There's a tax-free limit, and then you pay a certain amount of tax depending on how many years you've worked for the company (???).




OK - I got redundancy money in 2013 and
I don't believe it was taxed on that but my long service leave &
holiday pay was taxed.
They got every penny out of me that they could get.
Then when I went to Centerlink they just wasted my time
& gave me nothing.


Your redundancy must have been under the tax-free limit.

I'm trying to find the tax-free limit now, but the ATO website keeps crashing (just heard on the radio that the MyGov and ATO sites are struggling to keep up with people putting in their tax returns).

As far as Centrelink goes, I would advise people to avoid that place at all costs.



The myGov system is experiencing technical problems — denying people online access to the ATO, Medicare and Centrelink — while Telstra has blamed "unusually large traffic" in NSW for yesterday's payments outage.

https://www.abc.net.au/news/2019-07-12/telstra-says-sorry-for-outage-as-mygov-cr...
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Gnads
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Re: What would happen if we abolished income tax?
Reply #22 - Jul 13th, 2019 at 8:19am
 
greggerypeccary wrote on Jul 12th, 2019 at 11:34am:
Bobby. wrote on Jul 11th, 2019 at 10:42pm:
Redundancy payments are not supposed to be taxed.
See an accountant.


I was just talking to my accountant about this 10 minutes ago.

It's not entirely tax-free.

There's a tax-free limit, and then you pay a certain amount of tax depending on how many years you've worked for the company (???).



All of the blokes in my depot who have taken a redundancy had long years of service & were in their late 50's to early 60's/65.

They were only taxed on their long service leave & annual leave.
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Gnads
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Re: What would happen if we abolished income tax?
Reply #23 - Jul 13th, 2019 at 8:22am
 
greggerypeccary wrote on Jul 12th, 2019 at 1:47pm:
greggerypeccary wrote on Jul 12th, 2019 at 11:42am:
Bobby. wrote on Jul 12th, 2019 at 11:39am:
greggerypeccary wrote on Jul 12th, 2019 at 11:34am:
Bobby. wrote on Jul 11th, 2019 at 10:42pm:
Redundancy payments are not supposed to be taxed.
See an accountant.


I was just talking to my accountant about this 10 minutes ago.

It's not entirely tax-free.

There's a tax-free limit, and then you pay a certain amount of tax depending on how many years you've worked for the company (???).




OK - I got redundancy money in 2013 and
I don't believe it was taxed on that but my long service leave &
holiday pay was taxed.
They got every penny out of me that they could get.
Then when I went to Centerlink they just wasted my time
& gave me nothing.


Your redundancy must have been under the tax-free limit.

I'm trying to find the tax-free limit now, but the ATO website keeps crashing (just heard on the radio that the MyGov and ATO sites are struggling to keep up with people putting in their tax returns).

As far as Centrelink goes, I would advise people to avoid that place at all costs.



The myGov system is experiencing technical problems — denying people online access to the ATO, Medicare and Centrelink — while Telstra has blamed "unusually large traffic" in NSW for yesterday's payments outage.

https://www.abc.net.au/news/2019-07-12/telstra-says-sorry-for-outage-as-mygov-cr...


Saw that yesterday.

Typical ... they encourage people to do everything online and then their system can't handle it.

I'll be going to a tax agent anyway.
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