Australian Taxation Office annual report out yesterday is filled with lovely
details like the specifics of the ATO’s Social Justice and Equity
– but what about some social justice and equity in tax? Media reports today
show the tax collected from high-income earners has fallen significantly.
nation’s 830 high wealth individuals – those with a net worth of more than $30
million – paid just $116.8 million in 2004-05,” Elizabeth Colman writes in The
Australian today. “This was down from $400 million the previous year and $325.9
million in 2002-03.”
same time, the Government’s total personal income tax take increased by $7.728
billion, or 8.6% over the last year. This is attributed to “growth in
wages and employment”– and, no doubt, “equity” in the tax system. Not.
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