Just A Few Ideas, Tony3 January 2015
Dear Tony Abbott
Just in case you’re looking for a few ideas to increase income and reduce expenditure this year. We’ve all probably at some point in our lives found that our income is rather too close to our expenses, or even less. So what do we do? We look at the “big ticket” items first – shop around for a lower mortgage or credit card interest rate, and reduce or eradicate the luxuries. What we don’t do is turn off the heating for Granny living in the spare room, and reduce the size of her meals. Which is what you’re intending to do by cutting $21million in funding for the homeless and charging us all an extra $7 (or $5 or whatever this week’s figure is) to visit the doctor.
1. Withdrawing fuel excise relief for mining companies (the tax the rest of us pay on petrol/diesel). Increased income – $2.4 billion a year.
2. Withdrawing funding of the School Chaplaincy Programme. Savings – $245 million a year.
3. Withdrawing your plan to provide funding for private theological colleges for the training of priests. Savings – $820 million over three years.
4. Phasing out negative gearing on property investments. Two-thirds of those with investment properties now declare a loss (and get tax relief on their other income) from their investments. Increase in tax income – $4 billion a year.
I’ve lots of other ideas but I don’t suppose you want to hear them.
Happy New Year