Economy

Feb 22, 2018

Searching for smart tax implementation? Look a little closer to home

The government of Singapore has revealed a new plan to boost GST and implement a carbon tax to offset predicted budget strain — foresight the Turnbull government could use.

Glenn Dyer — <em>Crikey</em> business and media commentator

Glenn Dyer

Crikey business and media commentator

The Turnbull government and its PR machine, the Australian Financial Review, are going out of their way to ignore slowing emerging evidence of a rethink among some of our major trading partners. Crikey pointed out earlier this week that the tax debate in Britain is slowly moving towards reform by raising taxes -- either value added tax or income tax, including corporate tax. The debate has been ignored by Federal Treasurer Scott Morrison, the PM and the AFR.

On Monday the government of Singapore went further. In its 2018 budget, it committed itself to lifting a number of taxes, led by raising the country’s GST 2 percentage points to 9% to cover expected recurrent expenditures, “sometime in the period from 2021 to 2025”. Finance Minister Heng Swee Keat said that the exact timing of the rise would depend on the state of Singapore’s economy, expenditure growth and tax income, but he expects that it will be done "earlier rather than later in the period".

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1 comments

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One thought on “Searching for smart tax implementation? Look a little closer to home

  1. nino

    You want to be careful citing Singapore as an example to follow. The housing market is heavily regulated, with restrictions on who can live where. They control the population through draconian laws. They censor and control the media, detain people indefinitely without charge, and can arrest foreigners merely for being present at a public assembly, of any sort. Sexual relations between two male persons remains a criminal offense, and there are no legal protections against discrimination. Non citizens have no rights. Foreign migrant workers are subject to labor abuse and exploitation, and sometimes physical and sexual abuse. For medically fit males ages 16 to 50, caning is mandatory as an additional punishment for a long list of crimes including non-violent crimes. I don’t think a carbon tax is worth all that do you?

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