By Andrew Mackinnon
The resources in Australia, such as coal, iron ore and natural gas, are owned by the Australian federal government on behalf of Australian citizens, not the mining companies which extract them.
The ownership of these resources by the Australian federal government on behalf of Australian citizens is a separate concept from the cost of mining companies extracting these resources, which cannot be avoided if these resources are going to be utilised.
By Andrew Mackinnon
Last updated: 31st December, 2022
Capital gains tax (CGT) in Australia constitutes less than 10% of all tax revenue collected in Australia by the Australian federal, state and territorial governments.
By Andrew Mackinnon
Last updated: 10th August, 2022
As far as I can tell, the number of Australian citizens who submit a tax return in Australia is currently about 13 million and the average taxable income declared on these tax returns is about $65,000.
By Andrew Mackinnon
Last updated: 14th April, 2023
Australian Prime Minister Scott Morrison, Queensland Premier Annastacia Palaszczuk, New South Wales Premier Gladys Berejiklian and Victoria Premier Daniel Andrews have all lost the confidence of the Australian citizens who they govern. It’s only a matter of time before they’re all replaced.
By Andrew Mackinnon
Last updated: 18th February, 2023
High house prices in Australia are caused by…
By Andrew Mackinnon
Last updated: 14th April, 2023
The Goods & Services Tax (GST) in Australia constitutes double taxation of income on which income tax has already been paid. The Australian federal government wasn’t satisfied with the income tax that citizens paid on their earnings. It wanted more. So, on 1st July, 2000, it introduced the GST to tax the income that the citizenry have left after they’ve already paid income tax. This is an attack on the property rights of the citizenry over the income that they earn. The citizenry earn income and are obligated to pay income tax to the government to fund their common needs. One would hope that they have property rights over their remaining income, but no! The government wants more and the citizenry are on the hook for 1/11 in GST (i.e. 10/110) of all of the goods and services they purchase with their after-tax income.