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Double Tax

Last week I referred to tax in general terms.

Can I now get specific about the abomination of double tax.

When I receive a payment fro the company that I own a really tiny bit of – BHP – I HAVE PAID MY TAX on the profit made by my company for me (and a few million other shareholders as well).

Some years back a fair-minded government recognized that taxing the same income twice was decidedly unreasonable. It has never ceased to be unreasonable, but one of the political parties seeking to take over the financial management of our country has announced a policy to reverse the process and subject a VERY large number of Australians to paying tax twice on the same earnings.

Go figure! Go vote!