Beanie Girl,
What's your view on instating an additional wealth tax on all property owners (but at a federal level) to help pay for things.
The federal government could impose say a 0.5% annual levy on the value property, commercial, residential and industrial. Everyone pays it, both investors and home owners.
In addition we stop negative gearing.
Both of these measures would bring in a lot of extra government revenue that would help fund the issues you identify, not just on this topic thread, but on other threads that you have identified.
Short answer, no.
They're way way way below in my list to claw back revenue and grow the economy, if they're there at all,
Maybe I'll have a think about the corporate/institutional property owners of residential, commercial and industrial now that you've brought it up
but mom and dad or young people resi investors - no
As I've said before the absolute dollar value of the debt/deficit is not important
it's the ratio to GDP that's the key
If you're growing the economy, the debt pretty much takes care of itself
But first things first, stop the tax avoidance/profit shifting by global MNCs like Apple, Google, Microsoft, Ikea etc
This is way within the power of the govt to do
"Abolition of deductions under section 25-90 of the Income Tax Assessment Act 1997 as part of a package to combat tax minimisation by global corporations, at a projected benefit to the taxpayer of $600 million".
The 500 million being taken out of General Practice with the reduced Medicare rebate is going into some nebulous black hole 'Medical Research Fund'. Not helpful at all in controlling our 'spiralling costs' of 'medical care'.
Then we have to look into some way to have royalties or taxes from the mining companies so we can create a sovereign wealth fund much like Norway has, who use only a percentage of the interest generated from their 750 billion dollar wealth fund to fund social, health, education and welfare programs each financial year. IF we ever get a mining boom again.
Then there are others like the 10 billion given to the Reserve Bank that was neither asked for nor needed. Then there's 30-40 billion dollars recurring each year of superannuation tax concessions given as largesse by Howard during the mining boom.
Got to run now, driving to Croydon.