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We have to trump US tax game, page-24

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joe a

6,113 Posts.

27/11/16

12:19

Post #: 20916179
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Originally posted by Scarpa ↑

The Laffer curve doesn't work and what is the deficit in the USA as a % of GDP - something for Oz to aspire to. Also companies pay little tax anyway because move money offshore (and that won't change).

When does Singapore mine and Hong Kong - we need to tax at source but to gutless because IMO these companies donate to Business Councils and politicians to scared to do anything. Need a royal commission into business donations. Also reduce company tax rate and companies still move money offshore (theyt dont want to pay tax) and that won't change because no policy around on forcing companies to reinvest the savings from the cut back in the country because don't want to target offshore tax minimistaion arrangements - so US deficit to get even bigger because Trump won't do anything about offshore tax minimisation (as will MT here).

Finally the right here do not undertstand imputation even though this is an investment forum. Apart from NZ we are the only other country in the world with it meaning because dividends are not taxed twice (they are taxed in hands of shareholders in the US/other OECD countries) and as a result the effective tax rate here is 20% to start with (as most companies distribute a large proportion of dividends here to shareholders).

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