Regarding the flat rate tax system - it is flawed as it will result in high income earners paying less and low income earners paying more tax. As for this system supposedly abolishing other taxes, duties etc - that was what the GST was supposed to do, and now we pay GST on stamp duty - a tax on a tax! We also pay GST on fuel excise.
The tax cut I would have preferred to see from the budget would be the same as the cut from 17% to 15% and the 30% bracket starting from about $25000. Then the largely overlooked low to middle income earners would gain and the high income earners would also gain from this, but it wouldn't exclude lower income earners like this budget has done once again.
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Originally Posted by Mark Webber
Not bad for a #2 driver
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Mark Webber after winning the 2010 British Grand Prix.
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