totalling $5 billion reversed the downward trend in the first week of April.
However, the effect of the one-off stimulus payments is likely to be temporary as higher-income earners, who didn't receive a stimulus payment, continued to reduce their spending. If people are spending less because there are fewer opportunities to spend, this novel aspect of the crisis reduces the likelihood a temporary increase in the income tax levy would have any negative economic effect.Right now the costs of the COVID-19 crisis are being disproportionately borne by a small proportion of the population — the 700,000 Australians who have lost their jobs and about the same number relying on the JobKeeper wage subsidy.
The $300b+ of new Govt debt its suggested those who still have jobs pay back with higher taxes is being given not loaned to those affected by pandemic so why should those paying their taxes before during and after C19 be penalised. Govt should borrow from trillions in Aust Super.
End negative gearing, means test the pension, end superannuation concessions first. We sent the economy to the wall to save Australia's laziest and most entitled generation, they will contribute before I do...
Pay ubi. Everyone has a side job. No need bitter pill.
Sorry, I don’t receive FTB, childcare, franking credits or any of the other benefits available. I’ve already had a tax hike this year, thanks to Morrison and Co. dropping the HECS income threshold. I didn’t get the $750 stimulus and now you want me to tax me even more?!
Or China could be made to pay. Decisions, decisions … WuhanVirus CCPVirus ChinaIsAsshoe
Now is the time to close all tax loopholes that allow multinationals to pay no tax in Australia!
How about a tax levy on large businesses who have been able to trade and operate during the crisis. Some of them have had a boom in profits......look at Woollies and Coles, for a start.
First close the entire economy then, once you have truly screwed everyone, tax the people still working. Yeah really. And total deaths? 60. In 2018 3,000 people died in Australia from flu and similar. Send the planners to jail.
Any additional tax burden should fall on business and family trusts - the people who have benefited from the casualisation of the workforce and wage stagnation.