[LittleBirdStreet]

Some politicians saying GST vouchers given to lower Income earners will minimise impact on higher inflation and costs of living.

If that's so, why don't they keep GST unchanged?

However overseas income is not taxed in Spore, but it is taxed heavily in Australia.

[Scythian]

However overseas income is not taxed in Spore, but it is taxed heavily in Australia.

Tax Avoidance

"BHP settles longstanding transfer pricing dispute
19 noviembre 2018

BHP has reached an agreement with the Australian Taxation Office (ATO) to settle the transfer pricing dispute relating to its marketing operations in Singapore. 

The settlement fully resolves the longstanding dispute between BHP and the ATO for all prior years, being 2003 to 2018, with no admission of tax avoidance by BHP, and provides certainty in relation to the future taxation treatment.

The dispute related to the amount of Australian tax payable as a result of the sale of BHP’s Australian commodities to BHP’s Singapore marketing business."

Note

From 2003 to 2018, BHP Australia paying "zero" tax to ATO but instead paying Singapore corporate tax to IRS Singapore..

[LittleBirdStreet]

Tax Avoidance

"BHP settles longstanding transfer pricing dispute
19 noviembre 2018

BHP has reached an agreement with the Australian Taxation Office (ATO) to settle the transfer pricing dispute relating to its marketing operations in Singapore. 

The settlement fully resolves the longstanding dispute between BHP and the ATO for all prior years, being 2003 to 2018, with no admission of tax avoidance by BHP, and provides certainty in relation to the future taxation treatment.

The dispute related to the amount of Australian tax payable as a result of the sale of BHP’s Australian commodities to BHP’s Singapore marketing business."

Note

From 2003 to 2018, BHP Australia paying "zero" tax to ATO but instead paying Singapore corporate tax to IRS Singapore..

This is an individual case, general speaking you must declare all your income including overseas income and pay tax to ATO. Spore’s inland revenue and ATO exchange data under CRS every year, failed to declare once get caught will be penalised heavily with high interest for taxes unpaid over years and go to jail.

[Scythian]

This is an individual case, general speaking you must declare all your income including overseas income and pay tax to ATO. Spore’s inland revenue and ATO exchange data under CRS every year, failed to declare once get caught will be penalised heavily with high interest for taxes unpaid over years and go to jail.

Total of 1,470 Oz companies cases.paying Singapore corporate taxes but paying zero to ATO..

Including Apple, Microsoft, Google, IBM, Optus etc

[Scythian]

This is an individual case, general speaking you must declare all your income including overseas income and pay tax to ATO. Spore’s inland revenue and ATO exchange data under CRS every year, failed to declare once get caught will be penalised heavily with high interest for taxes unpaid over years and go to jail.

Singapore kept quiet  all along from 2003 until Panama white paper being exposed.

Australia Royal Commission.inquiries on tax avoidance and passed a law in 2017 punishable in prison..

[Scythian]

Most of Google’s Australian revenue was taxed in Singapore because Google Australia provides sales and marketing services to Google Singapore.

Google pays zero taxes to ATO

Asked whether she thought this was a reasonable arrangement, Carnegie said that was a question for politicians to answer

[Jinwului]

Sinkees is 37% tax across the board

[Scythian]

Sinkees is 37% tax across the board

So high?

[Jinwului]

So high?

if a 54 year old sinkee pay is $10000 a month, what is his take home pay and his employer contribution?

[Scythian]

This is an individual case, general speaking you must declare all your income including overseas income and pay tax to ATO. Spore’s inland revenue and ATO exchange data under CRS every year, failed to declare once get caught will be penalised heavily with high interest for taxes unpaid over years and go to jail.

Singapore allowing Oz companies and MNCs to set-up Regional HQ solely for bookkeeping and rec'd multi billions IE paying low corporate taxes.

In doing so, 26 million Australian were deprived of  better welfare and healthcare services from 2003 onwards.

[Scythian]

However overseas income is not taxed in Spore, but it is taxed heavily in Australia.

Since 2003, Singapore taken billions and billions away from Australia ATO.

Depriving 26 million Aussies their rightfully welfare benefits, infrastructure development, education system and healthcare services.

While Singapore built MRT and roads and growth Wealth to become one of world's richest countries at Australian expense..

[Scythian]

Since 2003, Singapore taken billions and billions away from Australia ATO.

Depriving 26 million Aussies their rightfully welfare benefits, infrastructure development, education system and healthcare services.

While Singapore built MRT and roads and growth Wealth to become one of world's richest countries at Australian expense..

Biggest setback in Australian Tax history.

15 missing years..

[watchfirst9]

https://www.ato.gov.au/tax-rates-and-cod...-residents
Tax rates – Australian resident
28 Sept 2023 ... Australian residents tax rates 2019–20 ; $18,201 – $37,000. 19c for each $1 over $18,200 ; $37,001 – $90,000. $3,572 plus 32.5c for each $1 over ...

https://www.iras.gov.sg/taxes/individual...-tax-rates.

[Scythian]

https://www.ato.gov.au/tax-rates-and-cod...-residents
Tax rates – Australian resident
28 Sept 2023 ... Australian residents tax rates 2019–20 ; $18,201 – $37,000. 19c for each $1 over $18,200 ; $37,001 – $90,000. $3,572 plus 32.5c for each $1 over ...

https://www.iras.gov.sg/taxes/individual...-tax-rates.

Outdated..

July 2024 cutting tax rates across the board

[watchfirst9]

Outdated..

July 2024 cutting tax rates across the board

Matching Sg First $200,000?

[Tangsen]

Anthony Albanese has pledged to more than double tax relief for Australians on the average income in a suite of low- and middle-income tax cuts paid for by trimming benefits to high-income earners.

At the National Press Club on Thursday the prime minister will defend Labor’s plan by arguing it will still deliver “a tax cut for every taxpayer” and that modification of the stage-three tax cuts was “the right thing to do” in changed economic circumstances.

"The Government has announced it will deliver tax cuts to all Australian taxpayers, to provide cost-of-living relief. 

From 1 July 2024, the tax cuts will: reduce the 19 per cent tax rate to 16 per cent."

Can dun give white pirates ideas can. Cut income tax, then it will give them justification to increase GST to 15%

[Scythian]

Really ah...
Singapore abides by international law and rule of law .

Singapore based on Principles..

[Scythian]

Now, those 1,470 Aussie companies including Apple, Microsoft, google, IBM and Optus etc are very well behaved paying corporate taxes promptly to ATO on revenues made in Australia.

They are no more booking Australia profits in their Shell Singapore Regional HQ anymore and thus, paying nothing to Singapore IRA.

Allowing the Aussie Govt to cut income taxes rates across the board.