Comment on The ultra-wealthy have exploited Australia’s tax system for too long. It’s time to ensure everyone pays their fair share

DavidDoesLemmy@aussie.zone ⁨1⁩ ⁨week⁩ ago

I’m all for changing the tax system to be more fair, but that figure about people earning over 1 million a year and paying no tax is misleading. Their taxable income would be zero to pay no tax. They would do this by losing all the money in investments or giving it all to charity. So they didn’t net anything, so they don’t pay tax. That is fair. We tax net income and net profits.

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