A simple 1% debit tax on all transactions, collected by the banks, forwarded to Treasury. That’s it!
-Saves the $20B per year the ATO costs us to operate
-viable due to ‘the velocity of money’
-Tax write-off schemers become null and void
Example: Wage earner on $50k, if they spend all their wages the annual tax paid is $500, if they spent nothing then zero tax (impossible but its the example).
ALL transaction, including big corporate contracts, govt spending, etc, are included.
It is my most sincere wish, that all Politicians; all BAR members; all senior Public Servants; all armed thugs masquerading as police; all pharmaceutical heads;