|Quoting zeke (Reply 181):|
They tell me there is around 15% tax on their pension savings, capital gains, gst, petrol, excise, car, property, land, rates etc.
15% tax on pensions - The Superannuaton system is taxed at 15% of contributions and earnings but that tax is payable by the Super Fund, not the individual. So while it's a tax it's not counted towards the individual. Once a person reaches their preservation age, 65 at the moment, the money can be withdrawn tax free.
Capital Gains - If you hold an asset for longer than 12 months, any gain is reduced by 50% automatically. A person than pays tax at their marginal rate on the profit after that. So if you're in the highest marginal tax bracket you will pay tax at 45% on that profit, if you're in the 30% bracket, you'll pay tax at 30% etc.
GST - This is to fund the States. Every Western Nation, with the exception of the United States, has some sort of VAT or GST so it's hardly unique. And ours is one of the lower rates out of all of those.
Petrol Excise - is currently arond 38 cents per litre. Again, by OECD averages it's not high.
Property Taxes - We don't have these as such. We do have Rates which are payable to local council based on the land value of a property.
Land Taxes - You have to own multiple property's, or be rich and have a massive piece of real estate, before this effects you.
|Quoting zeke (Reply 183):|
I agree with you when you said Australia is a high cost country, I said similar above.
I would say that parts of Australia are high cost, while parts aren't. The thing about it is that lots of people want to move and live here and that has created an overall demand/supply imbalance. When that happens prices inevitably go up. The good thing is that standards of living and salaries have also gone up for alot of Australians at the same time. My brother just moved back to Australia after living in Europe and Asia for the last 10 years and doesn't stop whinging about how much it costs. But when you've gotten used to paying next to nothing and have been working for a multinational Company alot of expats get a shock when they move back. The expect Australia to still be as it was when they left and the fact is that it's changed beyond all measure.
|Quoting zeke (Reply 183):|
The interview I heard on the radio indicated that advertising revenue from Google is being billed from Ireland, and content being served from outside of Australia, GST is not payable. Qantas does not have this luxury, unless it can start basing more of its assets and staff outside the Australian tax system, eg the Asian Roo of whatever shelf company it would be called.
Lets make this clear, in terms of airfares Domestic airfares are subject to 10% GST and have this included in their price. No International airfare sold by Qantas, or anyone else for that matter, contains GST. So if you bu a ticked between SYD
there will not be GST. If you buy MEL
then there will be GST on the MEL
and no GST on the SYD
. The biggest cost differential for Qantas is the pay rates of their crew, a tax debate is a bit of a red herring in the scheme of things.
In relation to Google, the ATO doesn't care where you bill stuff from. What Google would have here in Australia is, I'm guessing, some sort of service and support subsidiary and its services would be billed back to its parent on some sort of recovery or Cost plus method. Now whether or not those services are subject to GST depends on exactly what the sub is doing on behalf of its parent. We don't know so we can't guess.