Higher IR's, Higher Taxes, Higher Prices....

HAMISH_MCTAVISH

Generali wrote: »

Living in a good bit of Sydney is expensive (and Melbourne too I would imagine). It's cheaper if you compare like with like than London by a very long way.

In actual cash terms? Yes.

In local income multiples, not really...

Generali

HAMISH_MCTAVISH wrote: »

In actual cash terms? Yes.

In local income multiples, not really...

Net or gross? We don't seem to have thrashed out the relative tax take in the UK and Australia yet.

Are you wrong do you think? I think you are and you hoped you wouldn't get called on it so now you're just going to ignore me.

Harry_Powell

Generali wrote: »

UK Government spending in 2009-10 is predicted to be 44.3% of GDP.
Australia's Government spending in 2005-6 (the only year I could find figues for) was 35.7% of GDP.

If you had difficulty finding any other Oz figures other than the 2005-6 ones, then why didn't you compare UK government spending in 2005-6 with the australian spending in 2005-6?

You're not comparing like for like.

EDIT: I had a look on one site and the figure was 39.53% for 2005.

Really2

Direct comparison would be interesting has Oz did spend a fair amount on stimulus packages. I think the $2K giveaway was nearly 2% of GDP alone.

Generali

Harry_Powell wrote: »

If you had difficulty finding any other Oz figures other than the 2005-6 ones, then why didn't you compare UK government spending in 2005-6 with the australian spending in 2005-6?

You're not comparing like for like.

I'm not being paid for this so I don't feel the need for absolute intellectual rigour.

If you care that much perhaps you could be bothered to sift through to find the figures for Aussie Government spending this year.

I guess this is just (another) ad hominem attack that I get to file under the category of 'keyboard ninja'.

HAMISH_MCTAVISH

Generali wrote: »

Net or gross? We don't seem to have thrashed out the relative tax take in the UK and Australia yet.

Are you wrong do you think? I think you are and you hoped you wouldn't get called on it so now you're just going to ignore me.

:rotfl:

Well you already acknowledged the top rate of income tax is higher.

Statistics are surprisingly hard to find, but I'm working on it.

Here's one excerpt you may find interesting.....

Australia continues to place far greater reliance on income taxes than its trading partners and the other OECD members.

The studies also conclude that, with few exceptions, Australia's income tax rates are amongst the highest in the world and that those rates apply at very low income levels.

At best, Australia's overall tax burden (ie. the level of all taxes as a percentage of GDP) is at the average level of all of the European members of the OECD. Yet in comparison with our trading partners and the other non-European members of the OECD, Australia's personal tax rates and corporate tax rates are higher.

The message in these papers is that Australia is a high taxing country which relies excessively on income taxes for its revenue.

http://www.taxpayer.com.au/media/taxpayer-editorials/editorial011705.html

CLAPTON

Generali wrote: »

UK Government spending in 2009-10 is predicted to be 44.3% of GDP.
Australia's Government spending in 2005-6 (the only year I could find figues for) was 35.7% of GDP.

Australia's highest marginal rate of tax is 45% which kicks in at $180,000 (£99,000).
In the UK the highest marginal rate of income tax is 40% which kicks in at £34,800. Plus NI of course which Australia doesn't have which has a marginal rate of about 20% for most (employer + employee rates).

GST is 10%, VAT is 17.5%

Living in a good bit of Sydney is expensive (and Melbourne too I would imagine). It's cheaper if you compare like with like than London by a very long way.

just for the record

40% tax kicks in at £43,875 with an additonal 1% NI so effectively 41% marginal rate

I see no relevance to the employers contribution.. its just another business tax .. I asume Aus has business taxes too.

Generali

HAMISH_MCTAVISH wrote: »

:rotfl:

Well you already acknowledged the top rate of income tax is higher.

And it starts at a hundred grand (sterling) rather than 35 so isn't an issue for the vast majority. Why does a particular tax take matter, economically speaking do you think? Surely the overall tax take is what matters.

For example, I pay 60p/litre for my petrol and $6.50 a bottle for Wolf Blass wine (on special offer at the bottle shop) because the taxes on those things are far lower in Aus than they are in the UK. My heating bill is almost nil but my air con bill is huge.

Graham_Devon

HAMISH_MCTAVISH wrote: »

:rotfl:

Well you already acknowledged the top rate of income tax is higher.

Gotta give that to you.

Excellent work! Forget the detail, all that matters is that the percentage is higher.

FACT!

Harry_Powell

Generali wrote: »

I'm not being paid for this so I don't feel the need for absolute intellectual rigour.

If you care that much perhaps you could be bothered to sift through to find the figures for Aussie Government spending this year.

I guess this is just (another) ad hominem attack that I get to file under the category of 'keyboard ninja'.

Why is is ok for you to pull someone up on their figures (and demand an answer when none is forthcoming):

Generali wrote: »

Net or gross? We don't seem to have thrashed out the relative tax take in the UK and Australia yet.

Are you wrong do you think? I think you are and you hoped you wouldn't get called on it so now you're just going to ignore me.

Yet when I make what I felt was a valid point (that you're not comparing like for like with your figures), I get called a 'keyboard warrior' and I'm indulging in 'ad hominem' attack on you (whatever that means, I don't speak Latin, though I assume it's not something nice).

Charming. Perhaps you'd prefer it if we all just nod at whatever you post and agree that you're a genius?

I stand by what I posted. You're not comparing like for like, and if you can't be bothered looking up the correct figures, why bother to post anything? I didn't appreciate or deserve to be called a 'keyboard warrior', I certainly didn't put anything personal or offensive in my post.