topic Re: Increasing State and Federal revenue in Community Spirit

Increasing State and Federal revenue

catsnknots — Fri, 20 Sep 2013 01:20:41 GMT

How do you think it can be done?

With personal tax rates going down and more services being promised how do you see the governments being able to afford all of these new promises and existing services?

Re: Increasing State and Federal revenue

the_hawk* — Fri, 20 Sep 2013 01:27:27 GMT

Things are slow because the average working poor has been hit hard with ever increasing cost of living exspences and no longer has spare money to spend.

The only fix is people having more money and under Tonny that isnt going to happen

Re: Increasing State and Federal revenue

margomeoz — Fri, 20 Sep 2013 01:38:39 GMT

I hope Clive Palmer wins his seat in the Senate

Re: Increasing State and Federal revenue

***super_nova*** — Fri, 20 Sep 2013 01:40:31 GMT

The easiest and cheapest way would be to keep the mining and CO2 tax. To implement changes taxation costs. But of-course, they rather tax the poorest and give the rich tax cuts.

Re: Increasing State and Federal revenue

izabsmiling — Fri, 20 Sep 2013 01:45:33 GMT

After spending years howling about our strong economy and big promises to get us back to surplus by this date,that date ...or heading to a believable surplus by such and such...trust me he says

What we in fact ended up with is a surplus in about the same frame (or longer once it all comes out) as Labor offered with 'all their cards on the table and crystal clear' (to use Tony Abbott's phrases)

Labor did not however plan to do with with major cuts to vital services.

Re: Increasing State and Federal revenue

the_great_she_elephant — Fri, 20 Sep 2013 01:57:18 GMT

Well, Colin Barnett wants Abbott to raise the GS T - that should put a smile on everyone's face.

Mind you, having trashed our credit rating with his grandiose schemes, he is pretty desperate for extra revenue. I don't think Abbott can just go ahead and do it, anyway, it needs the consent of all the states as well.

Re: Increasing State and Federal revenue

the_hawk* — Fri, 20 Sep 2013 02:02:30 GMT

@the_great_she_elephant wrote:
Well, Colin Barnett wants Abbott to raise the GS T - that should put a smile on everyone's face.
Mind you, having trashed our credit rating with his grandiose schemes, he is pretty desperate for extra revenue. I don't think Abbott can just go ahead and do it, anyway, it needs the consent of all the states as well.

yes I believe it does need ALL states to agree, that shouldnt be that hard as its the states that get 100% of the GST they collect

Re: Increasing State and Federal revenue

catsnknots — Fri, 20 Sep 2013 02:21:18 GMT

I think raising the GST is a good idea... money will go right to the states that actually pay for essential services.

The mining tax (or any other "super profit tax) in my opinion is not good enough. Several reasons: firstly the companies just gear down, slow production and then sack people so that they don't need to pay it. Secondly a lot of people rely on that revenue to top up their self funded retirement. If they get less cash then the government must increase their pensions so the government is liable.

Super profits are not guaranteed income, governments can't do projected spending on an unreliable income.

Co2 tax is not meant to be an income for the government, it is meant to be a deterrent to big polluters. What happens if they keep it as it is and business finally does reduce their co2 output?? Won't that income also stop or be greatly reduced? We can't promise to fund anything from an ever decreasing income as the co2 tax in theory should be.

Re: Increasing State and Federal revenue

the_hawk* — Fri, 20 Sep 2013 02:28:43 GMT

@catmad*2013 wrote:
I think raising the GST is a good idea... money will go right to the states that actually pay for essential services.

The mining tax (or any other "super profit tax) in my opinion is not good enough. Several reasons: firstly the companies just gear down, slow production and then sack people so that they don't need to pay it. Secondly a lot of people rely on that revenue to top up their self funded retirement. If they get less cash then the government must increase their pensions so the government is liable.

Super profits are not guaranteed income, governments can't do projected spending on an unreliable income.

Co2 tax is not meant to be an income for the government, it is meant to be a deterrent to big polluters. What happens if they keep it as it is and business finally does reduce their co2 output?? Won't that income also stop or be greatly reduced? We can't promise to fund anything from an ever decreasing income as the co2 tax in theory should be.

a great idea pft you think taking money from the working poor that are already struggling is a great idea?

Its the 90% of the population that spend every cent they have to exist that pay for the top 10% to have an easy run, taxing that 90% will only cause an even bigger slow down in the economy

Re: Increasing State and Federal revenue

catsnknots — Fri, 20 Sep 2013 02:40:01 GMT

In truth the wealthy pay a lot more in GST than the poor.

And the wealthy will be the ones to pay a lot more GST if it increases.

Re: Increasing State and Federal revenue

cherry*135 — Fri, 20 Sep 2013 02:43:22 GMT

I think raising the GST is a good idea... money will go right to the states that actually pay for essential services

The GST collected has never gone back to the state it was collected in. The Federal Govt collects it and distributes it. It has always been a bone of contention especially for the major states.

JULIE BISHOP: Tony Abbott has said that he believes the State Premiers in the major states, and that is that Western Australia, Queensland, New South Wales and Victoria should get together and come up with a formula they believe is fair ensuring that the other States don’t miss out but come out with a formula that is fair. I understand that is precisely what the Premiers of Western Australia, New South Wales and Victoria are doing. They are looking at the formula and when the States can agree amongst themselves, well then that’s an opportunity for the Coalition should we be elected to government to talk to them about it... (ABC Perth Mornings, 12 August 2013).

Re: Increasing State and Federal revenue

cherry*135 — Fri, 20 Sep 2013 02:46:45 GMT

If a wealthy person has to pay, for example, 12.5% GST on their purchase/services so does a lower income person.. The lower income person has to pay more for their, for example, petrol but they have a lot less disposable income than a person on a higher income.

Re: Increasing State and Federal revenue

cherry*135 — Fri, 20 Sep 2013 02:58:13 GMT

Tony's Abbott's promise of fixing the roads, and being remembered as being Mr Infrastructure must be the biggest election promise in recent years.

How exactly is he going to fund that? Does he know how any millions/billions of dollars it costs to upgrade short pieces of road?

The Government has also allocated $115 million to provide 7.5 kilometres of upgraded highway and include two new interchanges ,

(small part of the highway near where I live..more needs doing.. some parts have needed doing 10 years ago.. still waiting.. there would be many areas in Aust with the same problems).

Does the Federal Govt pay for all the new roads/highways or are the State Govt;s expected to match them $ for $? or contribute a large amount of the cost at least.?

Governments spending money on infrastructure does boost the economy at least.... more employment, building materials purchased etc.

I think anyone genuinely interested in how the economy works and doesn't know the finer details already, would benefit from doing a 101 Economics subject.

Re: Increasing State and Federal revenue

cherry*135 — Fri, 20 Sep 2013 03:01:01 GMT

NSW (Sydney properties - high value) & Vic collect a huge amount of stamp duty from the sale of houses...money for jam...no effort and lots of revenue in return.

Re: Increasing State and Federal revenue

just_me_karen — Fri, 20 Sep 2013 04:58:31 GMT

Why even discuss raising revenue. It's not a problem, according to the Libs. The reason the budget didnt balance was all Labor's fault and had absolutely nothing to do with revenue write downs. They were irrelevant and treasury incompetent.

So, it'll obviously be all liberals fault should the budget not balance by the end of their first (and last) term.

Re: Increasing State and Federal revenue

cherry*135 — Fri, 20 Sep 2013 05:05:01 GMT

They can cut more stuff out for low income earners.. like they abolished the super co-contribution. Lower the $18000 approx tax free threshold back to $6000

That will raise more revenue, who cares about low income earners anyway?

Personal tax rates were ridicuosly high. Over $60 000 incom the tax rate was 45% about 10 years ago. The personal tax rates have not changed for the 2013-2014 tax year.

Re: Increasing State and Federal revenue

polksaladallie — Fri, 20 Sep 2013 05:21:01 GMT

@the_hawk* wrote:
@the_great_she_elephant wrote:
Well, Colin Barnett wants Abbott to raise the GS T - that should put a smile on everyone's face.
Mind you, having trashed our credit rating with his grandiose schemes, he is pretty desperate for extra revenue. I don't think Abbott can just go ahead and do it, anyway, it needs the consent of all the states as well.
yes I believe it does need ALL states to agree, that shouldnt be that hard as its the states that get 100% of the GST they collect

That is not really correct. It can be changed in the federal parliament.

The finding: Like any tax the GST could be changed without the agreement of the states and territories.

The Coalition has said that if it wins the election any tax initiatives outlined in the proposed White Paper would be taken to a subsequent election. But at any time governments can change the GST legislatively. There may well be political challenges for a government wanting to change the GST, but if it can get legislation through Parliament it can make those changes.

http://www.factsfightback.org.au/could-a-future-federal-government-override-the-states-on-gst-changes-check-the-facts/

Re: Increasing State and Federal revenue

cherry*135 — Fri, 20 Sep 2013 05:28:46 GMT

hawk - its the states that get 100% of the GST they collect

No, they don't, never have. It has always been a bone of contention. The federal Govt distributes the GST collected.

WA,NSW, VIC and QLD want the distribution criteria changed.

Re: Increasing State and Federal revenue

the_hawk* — Fri, 20 Sep 2013 05:30:25 GMT

well polks my memory must be failing me, as I remember it when they first introduced the GST I believe they stated the safety to prevent anyone increasing the GST was that all states had to agree.

Now your your saying they can change it by just changing the legislation without any one having to agree

Re: Increasing State and Federal revenue

polksaladallie — Fri, 20 Sep 2013 05:39:55 GMT

@the_hawk* wrote:
well polks my memory must be failing me, as I remember it when they first introduced the GST I believe they stated the safety to prevent anyone increasing the GST was that all states had to agree.

Now your your saying they can change it by just changing the legislation without any one having to agree

Well, I'm not saying it, I am quoting. Read the link I gave and the following one. I knew it didn't sound right when Abbott kept saying it like a broken record. (If you say something over and over, some people will believe it and not look into it).

http://www.theage.com.au/federal-politics/fact-checker/is-kevin-rudd-right-that-gst-could-be-changed-without-the-states-20130813-2rthd.html