While we are at it here are some figures from: treasury.gov.au 2013-14:
Personal tax receipts:...........$178 billion
Company tax receipts...........$ 80 billion
GST:......................................$ 51 billion
Total*.....................................$309 billion
Companies only pay GST on their GSTable profits which is about 15% of the total GST take
(company taxable inputs are credited and there is no GST on wages)
In summary individuals pay $221 billion tax while companies pay only $88 billion
Most would expect it to be the other way around!
We have just forgone about $7 billion a year in MRRT and CO2 tax
game, set and match.
Thank you Mr Abbott, Thank you Mr Hockey and thank you ballboys.
Cheers
Moorookamick
* there are other receipts : i.e.: customs duty, luxury car tax etc.
