That was an interesting article, Murray. Thanks for putting it up
After reading the article, my thoughts were
Someone is living in an imaginary world, asking the Australian Government to consider tax deductions, in this day and age of new normality
The following are bits of information, I had picked up due to normal reading of the news
We had/have a pandemic caused by a virus named Covid-19
I do not wish to upset, all those who kept shouting out, (in the early days of Covid-19), that we must not lockdown, as it will be detrimental to our wealth, and that we must learn to live with Covid-19 etc,etc
I have no intention of crunching the numbers, but I will assume that most Governments worldwide, have already spent much more, on stop start lockdowns, than they would have spent, if they had just ring fenced and locked down where it was appropriate, for a month or so, to eradicate Covid-19
Our Government has borrowed plenty of money, to see us through these stop start lockdowns, and this money will have to be paid back, sometime in the future.
One way for our Government, and other Governments of the world, to meet future debts is to raise taxation, both old and new ones
I have read that Brazil, is thinking of bringing in a wealth tax, for the wealthier folks of that country, from memory they are saying that this new wealth tax, will be (a one off) 3% of assets within the country, and 5% of assets held outside the country
I will assume that if I have read about this, then perhaps members of our Government, may also have read about it
If you're on a pension you car etc is part of you assets. Make sure that you let the government know the reduced value each year. Vehicles depreciate very quickly. So you can increase your pension.
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Wealth tax, Death Duties, Inheritance Tax, Gift Tax all in the melting pot but
not considered until AFTER the relevant election.
Us little people have got no chance - but the pollies are safe since all their assets
are held overseas or in family Trusts etc, etc.
And you can't escape it with the trend to cashless societies. No wonder Bitcoin
and the likes are ragingly popular - big bruvver can't take that of you!
If you're on a pension you car etc is part of you assets
I was unaware that a car is part of your assets, so thanks for that info
I am not due anything from the government until I am 75, which is a couple of years down the track
I can also assume that one's caravan, camper trailer, mobile home, etc. would also be part of your assets and therefore must also decrease in value over time.
