Thursday, December 16, 2004
Comments from a Just Left tax post
Comments would have to be what My Right likes most about Blogging. A blog is a nice way for a political sort to throw up some ideas, it is the reaction to those ideas that is most satisfying.
In particular My Right has enjoyed a number of exchanges with Just Left (Jordan Carter) - and hopes that he doesn't mind me lifting an exchange of comments from a recent post of his. It appears that Left and Right types frequent his site:
[original post]Australian Income Tax RatesRead the whole thread here...
From 1 July 2005 the following income tax rates apply in Australia:
0 to 6,000 - 0%
6,001 to 21,600 - 17%
21,601 to 63,000 - 30%
63,001 to 80,000 - 42%
80,001+ - 47%
Interesting contrast with our system, where higher income earners pay less and lower income earners pay more. On the other hand, Australia has compulsory super payments they have to make which we don't...
[comments]The aussies have a capital gains tax as well. The medical levy is the same as the ACC levy. The company rate is 30% so I guess like in NZ self-employed people can cap their income tax to the company tax rate. Tough cheese for salary earners. In aussie you get a tax rebate if you pay your own private medical insurance. This is the way of the future as is a low income tax-free band.
While just comparing tax rates in highly successful Singapore the rates for salaried employees is
0 to 20,000 Nil
20,001 to 30,000 4%
30,001 to 40,000 6%
40,001 to 80,000 9%
80,001 to 160,000 15%
160,001 to 320,000 19%
320,000 plus 22%
Posted by: Simon | December 15, 2004 06:46 PM
I'm in Korea paying 4% tax, there are also levies for pension and health which the employer is supposed to match dollar for dollar (though my employer pays the whole lot including tax, utlities and lunch for me)
Posted by: stef | December 16, 2004 03:05 AM
The Tax debate is subjective and ideological - but ultimately about balance. We all want the best health care on Earth - but do we want that at the price of complete redistribution? When Jim Anderton is advocating corporate tax relief - you know the balance is way out of whack.
P.S. Jordan, your recent comment re "pissing yourself laughing" if you cut taxes on me before the Election is uncommonly encouraging. I'm pleased you can see the funny side of those evil tax cuts. So please, if you do get another term - continue to laugh it up chuckles and give me some cash back!
