Tisme
Apathetic at Best
- Joined
- 27 August 2014
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- 8,954
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- 1,152
I found everything in Swissland (
Seems to work for the Swiss
They certainly have a more diversified economy than we have.
We have a pretty low unemployment rate, and a global "niche" market is a massive thing for a country our size.
But we don't need to focus on big things, we can get thousands of niche businesses, serving the globe.
Once the "big boys" realise that we have corned a niche market they will use their muscle to move in and take over.
This has happened over and over again. The US uses it's bigger market as leverage to get more of its beef into Japan, squeezing us out. As I said , the only market we can depend on is our own.
Globalisation is a con.
The new research, conducted by KPMG, estimates that raising the GST to 15 per cent and applying it to all goods and services would raise an extra $42.9 billion in the first year.
Other scenarios, such as maintaining some exemptions on a 15 per cent rate, would raise between $26 to $36.8 billion.
Leaving the GST at 10 per cent but extending it to everything would raise an estimated $12.1 billion.
This problem is largely one of timing. In short, WA's GST share does not respond quickly enough to variations in mining royalty income.I can never see WA agreeing to a GST increase unless their is a dramatic improvement for them in the distribution ratios. It would be very unpalatable for the WA government to consent to a GST increase to 15% which would perhaps increase the take FROM WA consumers by $3B - $4B, if only $1B or so of that comes back to the state after the federal distribution.
As the GST goes to the States, how will this help the Federal Budget ?
The Feds would have to cut grants to the States and that would result in a bitter fight.
This problem is largely one of timing. In short, WA's GST share does not respond quickly enough to variations in mining royalty income.
The two are also affecting different groups differently, so it's hard to compare, let alone weigh on against the other. If the GST base were broadened to include fresh food, school and medical services, the effect would put a disproportionate burden on population groups that can least afford it. Lower mining royalties don't help low-income families.
The above reads like a worthwhile reform in itself.Mr Reed called on the Australian government to make a simple and effective reform of the GST by abolishing the requirement to provide additional information on GST-free transactions.
“We need to simplify the GST so that small business operators need only determine if a transaction is one where GST applies or if it is GST-free.”
“The need to allocate a GST-free code to each transaction results in uncertainty, confusion and compliance risk. It has nothing to do with the GST the company is required to pay,” he said.
“This reform would bring Australia in line with New Zealand where there is no requirement to report additional details about GST-free transactions, making it easier for small business to comply.”
Mr Reed said Australian businesses currently spend twice as long on GST compliance than businesses in New Zealand.
"A New Zealand SME needs 39 hours on average to comply with the GST each year, compared to 84 hours by Australian SMEs," he said.
.
Western Government is ridiculously wasteful.
How do you thing CBA WOW WSF BHP would fare if every 4 yrs
the management team from the top down was replaced by
another team who knew little about what you do and less
about how to run day to day business.
Hopelessly!!!
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GREECE’S government has confirmed that it may raid the country’s pensions and social security system to raise money to meet its huge debt repayments.
With Athens having to find 6 billion euros ($6.4 billion) in the next two weeks alone to pay its creditors, and its bailout frozen, the finance ministry said it is to ask parliament to allow it to raise money from the reserves of state bodies.
It insisted that it was not forcing state bodies and funds to transfer their reserves to the Bank of Greece, but that the government would guarantee them “for any capital losses” if they did so.
The statement made clear that the government was planning to enter the so-called repo short-term loan market after it tried in vain to persuade the European Central Bank to allow it more wriggle room.
Finance Minister Yanis Varoufakis had earlier on Thursday admitted that Greece had “a relatively small cashflow problem”.
On matters economics, Greece and a relatively small cashflow problem,
http://www.theaustralian.com.au/bus...-plug-debt-bills/story-e6frg926-1227260931577
Painful though it may be, an increase to 12.5% GST is probably politically saleable - by a good political salesperson that is. Take it to the next election.
Of all the measures being bandied about, it's at least fair (at the point of sale anyway, perhaps less so when distributed to the States), and ensures that the big end of town pays their share. Streamline the admin to save costs.
But broadening of the base is unlikely to be saleable, and imho, all those years ago Meg Lees and the Dems probably got it right.
For those too young to remember, 15% was the rate proposed when the GST idea was first seriously debated circa 1993.
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