GST rise

Happy New Year for a few weeks ago or coming up in a couple of weeks, depending on whether you rely on a calendar or the moon for such things. I hope you had some time off and got to spend it relaxing with people you love, or if you were working, that you got plenty of time and a ... WATCH OUT FOR YOUR PENALTY RATES!!!

Yes, that's right, while most of us were working or preparing for the strange rituals of the season, those busy little elves at the Productivity Commission had been slavishly working, day and night, to deliver a lovely big present to business and the government.

When it was revealed last month that Malcolm Turnbull has significant investments in the Caribbean tax haven of the Cayman Islands, I'll admit I felt some relief. At least our prime minister appeared committed to helping someone's economy, even if It was just a banking system once described by Barack Obama as “the biggest tax scam on record”.

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