75
top 10 comments
sorted by: hot top controversial new old
[-] stylusmobilus@aussie.zone 12 points 2 days ago

So much respect for Jericho, he never stops fighting for us.

This is another brilliant, well laid out article. I’m happy to pay the Guardian for this.

[-] brisk@aussie.zone 6 points 2 days ago

In case you're unaware, he runs an excellent Australian economics podcast called Dollars and Sense.

[-] stylusmobilus@aussie.zone 2 points 2 days ago

I was unaware, thank you

[-] tombruzzo@aussie.zone 4 points 2 days ago

I could tell this was a Greg Jericho article just from the title.

No surprises there though, it is designed by the wealthy

[-] Fleur_@aussie.zone 1 points 15 hours ago

Please God I would do anything for a politician's income to be capped at median wage.

[-] SaveTheTuaHawk@lemmy.ca 3 points 2 days ago

Same as Canada. In 1972, we somehow decided that wealthy people should pay 50% less tax by removing income tax from capitals gains.

Then by the 80s we we needed a GST while the wealthy moved assets to offshore accounts.

[-] SarahFromOz@lemmy.world 1 points 1 day ago

Of course it is.

Corporations offshore profits to tax havens to avoid paying too much tax.

Wealthy individuals mostly make money from investments rather than salary and pay discounted CGT instead of income tax on most of their money

The middle class and poor get to pay more to make up for this nonsense.

[-] DavidDoesLemmy@aussie.zone 1 points 2 days ago

This article didn't outline which parts of the tax system it thinks benefits the rich unfairly. We have a very progressive tax system. Top earners pay 47% tax on their top earnings, plus GST of everything they buy, plus land tax, rates, etc and extra taxes on luxury cars, fuel, etc. Plus there's div 293, and 2-3% inflation each year. Well more that 50% of the marginal earnings are paid in tax.

I used to be in the top tax bracket, and now I'm in the bottom tax bracket. So I've seen both sides.

[-] SarahFromOz@lemmy.world 3 points 1 day ago

Discounted CGT and negative gearing come to mind...

[-] DavidDoesLemmy@aussie.zone 1 points 1 day ago

Negative gearing should definitely be limited. Maybe 1 property of X dollars per year.

CGT discount is meant to account for inflation. They could change it to be dynamic based on inflation rate each year, but it's always a balance between simplicity and perfection. People complain when the tax system is too complex and they can't do their own taxes.

Note that all costs are deducted before CGT discount is applied, which makes it fairer.

this post was submitted on 17 Dec 2025
75 points (98.7% liked)

Australia

4679 readers
193 users here now

A place to discuss Australia and important Australian issues.

Before you post:

If you're posting anything related to:

If you're posting Australian News (not opinion or discussion pieces) post it to Australian News

Rules

This community is run under the rules of aussie.zone. In addition to those rules:

Banner Photo

Congratulations to @Tau@aussie.zone who had the most upvoted submission to our banner photo competition

Recommended and Related Communities

Be sure to check out and subscribe to our related communities on aussie.zone:

Plus other communities for sport and major cities.

https://aussie.zone/communities

Moderation

Since Kbin doesn't show Lemmy Moderators, I'll list them here. Also note that Kbin does not distinguish moderator comments.

Additionally, we have our instance admins: @lodion@aussie.zone and @Nath@aussie.zone

founded 2 years ago
MODERATORS