Tax cuts over tax reform: PM

jeru

Prime Minister John Howard has left the door open for across-the-board tax cuts in the next budget and says Australians want tax relief, not reform.

Mr Howard said any money available in a healthy budget should be returned to the public through tax cuts.

``And in returning it to the public we don't just focus on a small section of the public, we try and focus as far as possible on everybody,'' he told Southern Cross radio.

``I don't know at this stage what room there will be in the budget, we haven't begun the process. We'll have a bit of a preliminary look at things before Christmas, very preliminary, and then we'll get in earnest into the process next year.

``Clearly any government in its right mind, if it's got the capacity to do so, wants to continue to give tax relief.''

Tax thresholds would lift automatically on July 1 next year, providing further cuts.

``More than 80 per cent of Australian taxpayers will be on a top rate of no more than 30 cents in the dollar and only three per cent of the taxpaying workforce in this country will be on the top rate of 47 cents in the dollar,'' Mr Howard said.

The prime minister said Australians' preference was for tax cuts, not reform.

``In the end, what the public wants, if we can afford it as a nation after we've provided the necessary ... is a lower tax burden,'' Mr Howard told Macquarie Radio.

''(But) you can't have a tax reform that doesn't lower the tax burden because people will think it's a sham.


"If the reform does not result in a lower tax burden people don't think it is a reform.''

astina

Good news

I think the tax-free threshold should be raised.  No one can live on $6000 a year these days.

麋鹿

``More than 80 per cent of Australian taxpayers will be on a top rate of no more than 30 cents in the dollar and only three per cent of the taxpaying workforce in this country will be on the top rate of 47 cents in the dollar,'' Mr Howard said.

only 3% will pay the 47 cents in the dollar.
now it is 53,000, i really doube it.

If i am right, some guys here talking abouthe average annual salary in OZ is 60,000.
That means 50% are paying the 47 cents in the dollar now.
I can't imagine it will down to 3%.

astina

麋鹿  在 2005-12-9 02:12 PM 发表:

``More than 80 per cent of Australian taxpayers will be on a top rate of no more than 30 cents in the dollar and only three per cent of the taxpaying workforce in this country will be on the top ra ...

mind you for this financial year, 47% only applies to salary exceeding 95k

jeru

astina  在 2005-12-9 02:24 PM 发表:

mind you for this financial year, 47% only applies to salary exceeding 95k

Great news...

Can you tell me more,Astina,thanks

麋鹿

Taxable income
       
Tax on this income

$0 – $6,000
       

Nil

$6,001 – $21,600
       

15c for each $1 over $6,000

$21,601 – $63,000
       

$2,340 plus 30c for each $1 over $21,600

$63,001 – $95,000
       

$14,760 plus 42c for each $1 over $63,000

Over $95,000
       

$28,200 plus 47c for each $1 over $95,000


Crap! Crap!

I miscalculate it again.
I bought 16% Super against tax.
Really need a accountant girlfriend. Don't have the energy to look those money thing.

麋鹿

80% - 3% = 77% Aussies earn more than $63,001 per year.

How wealthy the country is.

jeru

still too high,should cut more tax

西边雨

I don't know at this stage what room there will be in the budget, we haven't begun the process.
--------按照这边的办事效率，估计要等很长的时间