Thursday, June 23, 2016

mega & gut

Quotations:

qanda_2015_ep29

Richard Di Natale: [tax haven; slug;mega; gut; slash; debilitate ] Well, where to start. There is 400 billion dollars of money going offshore, 60 billion of it going into tax havens and we're having a debate around GST and whether people should be slugged more for a loaf bread, mainly a tax that impacts most on poor people. Of course people who are earning mega profits here in Australia should pay their fair share. I mean, there's nothing moral about it. This just - it's a decent thing and it's what the country needs if we are to deal with some of our revenue issues. Now, I have to say on - I have to give credit to Christine Milne because she set up this inquiry and we're having this debate now nationally because of the work that she did in the area. And Kelly talks about the ATO and giving them more resources. Well, we've gutted the ATO. There have been hundreds of jobs slashed from the Australia Taxation Office. So, now the way these guys pay their taxes is they sit 're with their lawyers, having a negotiation with a completely debilitated taxation office and they negotiate what a level of tax they want to pay. I mean, imagine going to your accountant and saying: well, you know, what, I think I pay too much tax, let's negotiate how much I can pay. So we've got to resource Australia Taxation Office. The idea of - it's not naming and shaming. It's just getting some transparency.

Definitions:

mega:
very large or impressive.

gut:
1. to make something powerless or ineffective, especially by removing essential parts or features from it;
2. ...

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