revenue problem

Remember last year when federal Treasurer Scott Morrison, picking up where Joe Hockey left off, declared that we had a spending problem not a revenue problem? That seems like a long time ago now.

They did try to increase revenues by floating an increase in the GST but soon after came the revelation that 600 of Australia's biggest companies paid no tax and hundreds more pay less that the 30% they could be paying. This is all the more galling when you consider that the rate has been cut from the 48% it had been in the early 1980s. And then came the Panama Papers!

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