|Monday, January 09, 2012||(Comment)|
Keating's Great Big Tax on Everything
A 9% federal payroll tax for general revenue would not pass the laugh test, let alone the electoral test. Neither would a federally funded superannuation contribution set at 9% of the individual wage or salary, with the result that the workers with the highest incomes get the biggest handouts. But put the two together and take most of the combination off-budget, and you get Australia's newest sacred cow: the Superannuation Guarantee (SG)...
Read the full submission (Senate Standing Committee on Economics). P.S.: See also Maximalist ‘fiscal devaluations’ for Greece and Australia.
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