Tax Some Buggers More


We have several tax brackets in our taxation system which see a person being taxed at a slightly higher rate for each tax bracket that they reach in any financial year.

WHAT STRUCK ME was that the upper most tax bracket is $180,001 “AND ABOVE” Considering it is quite common “THESE DAYS” for CEO’s and some others to be earning several MILLIONS of dollars in a financial year…….. SHOULDN’T WE HAVE TAX BRACKETS TO CATER TO THEM?

Why should someone on $180,001 per year pay the same marginal tax rate as someone like Gail Kelly (Chief Executive of Westpac) who earned $9.18 Million for the year 2013?

If there is fair and valid reason to differentiate between taxpayers earning less than $180,001 per year there surely is good reason to start to differentiate between those on incomes which far surpass $180,000.

I know that these people who earn half a mill or more will scream and whine that they pay more than their fair share in tax…… WELL NO! you do not, if all of us are paying a rate of tax which is determined by a marginal tax rate then those of you who are earning “WELL IN EXCESS” of $180,001 deserve to be placed into a brand new marginal tax rate bracket……. If your salaries and wages are “Out Of This World” why shouldn’t your taxes be as well?

Further more, Government needs to spend more time on tax avoidance and closing down the loop holes which allow people who “CAN AFFORD TO PAY MORE TAX” Avoiding it because of loopholes and expensive taxation specialist and financial advisers.

As for the talks surrounding the states may need to raise the GST, well rather than hitting everyday Australians with another tax increase, why not look at dealing with foreign owned businesses who sell their products directly into Australia and are not collecting/charging and paying any G.S.T. If it is in the “Too Hard Basket” you need to find some better brains to figure it out…… Perhaps charge a licence fee for businesses who are currently exempt from collecting the GST…….

Remember there are many ways to skin a cat! (No Cruelty To Animals Is Intended)

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Thanks for taking the time to read, Cheers!

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