Here’s an idea for you: Australia has around 15 million taxpayers, but only 50 per cent are net contributors, meaning they actually pay more than they receive back in rebates and deductions.
Meanwhile, the top 10 per cent of income-earners shoulder 50 per cent of all tax revenue,* and the top 25 per cent pay 75 per cent of the $300 billion generated by PAYE tax. Now, with the government forecasting a surplus of $13 billion this financial year and $35 billion next year (before they blow it all in the election, of course), wouldn’t it be nice if those of us contributing more than our fair share had a say in how that surplus is spent—or, dare I say, saved?
Not all of it, mind you; we wouldn’t want to rob the Treasurer of their chance to boast about running a surplus. But how about 10 per cent of any surplus being allocated by the very people responsible for it? With all the electronic systems we have for submitting tax returns, it wouldn’t be difficult to add a checkbox next to a list of government programs we could choose to allocate funds to.
For the bleeding hearts, there’s a checkbox for reconciliation. For the climate warriors, there’s climate change initiatives. Defence hawks, some drones as we have none? Tick. Higher education enthusiasts, they can fund the education of Hamas supporters. Tick. Health advocates, the Arts, sport—just work your way down the list of federal portfolios. The government could even put up specific programs we’re all bidding on, you can just imagine what they would come up with—Reconciliation Education, more funding for Q and A on the ABC, increased refugee intake from Hezbollah supporters—it would excite the imagination of the green left no end.
The only thing I’d ask for is an option to return my share of the surplus back to my bank account. I know which one I’d be voting for.
Related story: Tax exodus: All roads lead to the airport.
*Ed note: This clearly does not include those high income corporate taxpayers that pay zero tax. See the list at the foot of this ABC story: https://www.abc.net.au/news/2024-11-01/companies-that-paid-no-tax-in-2022-23-revealed-profit-shifting/104545520
