Tag: gst
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Fix the GST to unlock more than $2 billion for SA
If we had a properly functioning Goods and Services Tax (GST), operating as its creators intended, South Australia would have more than $2 billion in additional revenue each year. That is enough to build a new, state-of-the-art hospital, or refurbish an ageing one, every single year. With ambulance ramping and hospital congestion at record levels,…
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Fair GST distribution is Treasurer’s ‘number one concern’
Speaking at the Urban Development Institute of Australia’s State Budget Breakfast, Mullighan said equitable GST distribution was “the number one concern that state and territory treasuries have”. “Under the previous coalition government, legislation was passed to provide a new much higher floor of GST revenues for Western Australia recognising that as a resource-rich state it…
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Govt confident the WA precedent means it will keep coal royalty benefit
Up to $13 billion in royalties has been estimated by the industry as the State Government’s take from the new royalty regime. But in previous years when mining booms have generated a huge take for the government, much of the benefit had been lost because of the way the GST is distributed so that the…
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Chalmers’ Budget hit-list: GST may increase, tax-breaks cut to rein in deficit
Treasurer Jim Chalmers is due to hand down his second budget in less than four weeks and the spotlight is on how the government plans to ease cost-of-living pressures without fuelling inflation or adding to government debt. A Grattan Institute pre-budget report presented a number of immediate and long-term options for addressing the deficit. Without…
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SA restaurant owner jailed for GST fraud
Brad Redman fraudulently obtained $613,262 in GST refunds and attempted to secure another $210,000. But he was caught by the Australia Tax Office and is being made to repay the money on top of his prison sentence. Redman, who operated a restaurant and gift shop in McLaren Vale, made false claims to the tax office…
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Businesses back GST increase in exchange for state tax relief
Almost two-thirds of businesses who have so far responded to this year’s BDO State Business Survey have backed a GST hike as a way of boosting job creation without causing additional pain on the state’s already stretched bottom line. The 65 per cent result is significantly up on the past three years when only about…
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Want to save time? Don’t bother reading stories about tax reform – except this one
Here’s a tip if you want to save some time – skip over any news story you see with the headline “Time for tax reform”, or something similar – except this one perhaps. Not that it isn’t time for tax reform. It’s always time for tax reform. Everyone knows the current system’s got big problems…
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With the whole world on fire, it might be time to take that leap of faith
If you’re sick of pivoting through the pandemic, stand still for a moment and prepare to jump off the burning platform. It’s the latest piece of corporate speak to find favour in the current crisis. We’re facing desperate times and pivoting is no longer enough. It’s time to take a leap of faith, just like…
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Two decades on, the GST still hasn’t changed, but it’s changed everything
It’s a valid question for a meaningful overhaul of our tax system, but it is one both sides of politics would rather ignore and leave in the too-hard basket. That’s despite a wealth of economists, tax experts and international institutions, like the Organisation for Economic Cooperation and Development and the International Monetary Fund, urging changes…
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Morrison’s bid for industrial disarmament may define his legacy
Scott Morrison has indeed taken to heart that adage about not wasting a crisis. He insists he is going to put to advantage the opportunity brought by these most unfortunate circumstances. His plan for a government-employer-union-community effort to reform this country’s industrial relations will, if it comes off, be a substantial achievement (although the actual…