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By Jo Nova
I’m looking forward to spending three days at the Triple Conference in Albury from March 15 -17th. Topics include looking at ways to get the Government out of our lives, get cheap energy, returning manufacturing, rule of law, management of the Murray Darling, I’ll be speaking and so will David Burton of the Inigo Jones long term weather forecasting and the failures of the BOM. Other speakers include three Senators: Malcolm Roberts, Ralph Babet, and Alex Antic, plus two sitting MPs, many former MP’s like Gary Johns, Warren Mundine, plus also Augusto Zimmerman — it’s big!
The Gala Dinner on Saturday is called Nyet Zero.
It’s being organised by Topher Field of AussieWire.
This is the first time the three conferences have been combined: Big Ideas for A Better Australia, the Friedman Conference for libertarians, and the Church and State conference.
The conference itself is under $300, the Conference plus Gala Dinner is about $550, and there is a VIP option too. Tickets here.
Taxation Reform :-
During the latter part of the last century the telecoms and banking + financial industries were digitised and computerised resulting in massive layoffs – 10s of 1000s redeployed. This went through without a major hitch. Currently we have massive numbers of people in paper pushing \ processing jobs – private and government – that can be almost completely automated – forms, legal, bookkeeping & accounts, taxation etc. This needs to be done – government needs to move away from the ‘scriptoriums’ and into the 21st century.
Government is overhead. Minimise the size, reach and cost of government (in all respects and aspects). Minimise regulation.
One big area, and easily addressable area, to deal with is taxation reform :-
The Proposal :-
1) Replace ALL taxes with just one tax: A flat rate personal income tax applied to all personal income.
2) 2 types of bank accounts would exist – i) business type, ii) personal type.
3) When any payment is made from a business entity – any form of employment including the government – or by any person for products or services rendered – business account to personal account – a flat rate of tax is automatically deducted.
4) ATO would be massively reduced in size.
5) Accountancy and taxation administration and management costs would be massively reduced.
6) Business to business activity within the country would not be taxed.
7) Private dividends would be taxed at the private rate. As such there would not be much difference to what currently occurs.
8) Company to company dividends would not be taxed – all taxation transferred to the private point.
9) Any company dividends that would be exported – to any external company or individual – would be taxed at the private rate. This would encourage the money to be kept internally. It would be handled on an imputation basis and as a pseudo company tax – eg as currently occurs.
10) When introduced all businesses would be required to ensure that all staff still receive the same net remuneration.
11) Anyone operating effectively as a business would have to register as a business – obtain a business name and operate a business account – or set themselves up as a company with a business account.
12) Basic management systems would have to be in place to allow people to view and manage their taxation situation and to pay any tax due that had not been charged automatically (eg for a person starting a business).
13) Bonus – create a personal \ business ATO card that allows for people to be easily and quickly employed – allows for full flexibility and ease of employment. Likewise for single owner operator small businesses.
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I think a great many would love nothing more than a simplification of taxation laws. Unfortunately it goes against the trend of more BIG GOVERNMENT.
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Was listening to a podcast the other day and the interviewee was living in Monaco. Where they don’t have personal income tax, just a form of business/corporate tax. The business/corporate tax is paid AFTER paying out dividends. They have this lovely relationship between their version of the ATO and businesses. You definitely cannot pay zero tax, but you should aim to pay 2-6% of total income to the Monaco Tax office. They might also have a GST equivalent as well, not sure. How’s that for a simple tax system?
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As Kerry Packer so acutely noted:
“Anyone who does NOT try to MINIMIZE their taxes is an idiot”, or words to that effect.
In the spirit of “Render unto Caesar” and all that jazz.
Matthew 22:15-22
“Then the Pharisees went and plotted how to entangle him in his words. And they sent their disciples to him, along with the Herodians, saying, “Teacher, we know that you are true and teach the way of God truthfully, and you do not care about anyone’s opinion, for you are not swayed by appearances. Tell us, then, what you think. Is it lawful to pay taxes to Caesar, or not?” But Jesus, aware of their malice, said, “Why put me to the test, you hypocrites? Show me the coin for the tax.” And they brought him a denarius. And Jesus said to them, “Whose likeness and inscription is this?” They said, “Caesar’s.” Then he said to them, “Therefore render to Caesar the things that are Caesar’s, and to God the things that are God’s.” When they heard it, they marveled. And they left him and went away”.
So, how are we traveling?
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Kerry Packer – tax minimisation
https://www.youtube.com/watch?v=e97kq2XflKE
(43 sec video)
That was at the Govt Inquiry into print media, 1991.
At the start of his session he was asked to state his name and the capacity in which he appears.
Packer responded, “Kerry Francis Bullmore Packer. I appear here, this afternoon, reluctantly.” 🙂
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Then, they forgot to offer him a cup of tea.
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Get more than two weeks diesel supply asap. An Iranian nuke delivered to Ghawar oil field by the Houthi will cut off our oil to Singapore. Goods movement in Australia will start to get very tough within 2 months.
This scenario is just weeks away from being possible.
Relying on the US for diesel delivery when they are gearing up for a war is a dumb idea.
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and they have greatly depleted their strategic stocks.
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Look at the British managed old Hong Kong, Singapore and other examples of making much from nothing based on sound economic and financial management including a realistic attractive tax regime.
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But what are the Unions going to do??
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Carve out their own little under the counter money siphoning scheme via their members superannuation funds. Mentioned a couple of weeks ago how there seemed to be an increase in “industry super” fund advertising and last night Host Plus was on repeat play (during Vera). I REST my case.
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Continue to become bigger business than big business by using union industry superannuation funds’ contributor’s monies to invest in public company shares to gain influence and including seats on boards of directors.
Of course when Union Labor are in government the Union Movement prospers, see Trade Union Royal Commission reports.
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And for all those people that don’t like my driving-
I say get off the footpath.
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Help keep granny off the streets, support bingo.
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Good luck Ozzians.
Oddly, it seems from a distance that you guys have a chance to turn it around.
(You didn’t use Pandemic to institute mail-in voting, right?)
You might be far enough away from the head of the Alphabet Hydra as to mount a successful resistance.
Although my understanding is that there is a big tentacle attached square in the middle of the continent.
So siege is possible?
I think you’ll still get the submarines.
Unfortunately, we in the US have already been consumed and digestion is near completion.
The prize will be extruded in November of this very year.
(For clarity, the Hydra will not permit the return of Orange Knight.)
At least our ‘Weekend at Bernie’s’ election will be entertaining.
https://en.wikipedia.org/wiki/Weekend_at_Bernie's
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We definitely don’t have the mail in voting system you guys have. We do have a postal voting system for elections whereby if you are totally incapacitated or overseas or for some other reason, you can submit a postal vote prior to election day. But, difficult to cheat as your name is still acknowledged on the electoral roll as “voted”.
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I have an architect friend who is an immigrant from the USA and has been a citizen of Australia for many decades, one of his favourite conversations starts with questions about why Australia with so much land (despite the desert and semi-desert areas) and an abundance of natural resources has not progressed much further and climbed higher on the list of world’s largest economies.
The list of why not is long and centres on unions and far left politics, and we are not referring to the more sensible Labor centre-left, example or Prime Minister is from the far-left factions and is a follower of the late Russian revolutionary Marxist Leon Trotsky.
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I look forward to comprehensive and fair coverage of this event by our mainstream media!
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My pet flying pig agrees …..
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If it keeps flying to the left in every increasing circles get rid of it.
sarc.
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No fair going away that week and can’t cancel ! To make it worse I’ll be in Albury the week after .
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I would go but at the other end of the country. Pity as I was down that way last week. Enjoy the beaut beef that is grown locally.
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Unfortunately, the government and the ATO are like a bad episode of Play School (for those not in Aus. it is a children’s TV program) Albo aka Big Ted and Bowen aka little ted are a waste of space, even the kids hate him.
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I was thinking more along the lines of Bananas in Pyjamas- A1 and B2…
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Wish I could be there. Hope it is really successful.
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Nyet zero? Nein worries!
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But! But, Joanne! All of those speakers listed are un-woke, and that is just so problematic!
Someone might be offended …..
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On that note:
“Offence” cannot be given; only TAKEN.
It is a “weapon of choice” for the sociopaths to smash REAL people.
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How exciting! This Yank wants to be there!
And Jo, I assume you’ve shared a new portrait photo ABOVE. Gotta tell you: you’re STILL quite a babe, in this man’s eyes. I envy David.
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Thank you for organizing this. In these troublous times of over government by the nefarious nanny state, those topics offer a joyful hope, just to see them in print on this site.
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Jo,
enjoy conference and bring up this idea from Switzerland
https://www.dailymail.co.uk/news/article-13144123/Swiss-Australian-Government-taxes.html
While varying between each Swiss Canton, the average Swiss worker paid about 18 per cent in income tax in 2022, compared to the Australian average of 26.9 per cent.
Rudolf said the Swiss government gets more done with the lower tax figure because it doesn’t have a ‘burgeoning bureaucracy’.
Rudolf explained that the government cuts any jobs that are no longer needed to help limit the amount of spending.
‘Every 10 years, the government reviews how many jobs we have and really need – if they don’t (need them), we close the department,’ he said in the video.
The routine cuts come from the general Swiss scepticism of government, forcing it to achieve higher standards of governing or face being ousted.
‘We trust them to do certain things, but we watch them,’ Rudolf said.
He also noted the Australian government shouldn’t need to charge its citizens such high taxes as it has large industries that should instead drop tax rates.
‘Australia is a rich country, you have coal, gas, oil and wheat,’ he said.
‘You just have to get better management.’
The video attracted numerous comments from Australians who pined for Swiss tax rates.
‘We can do well to listen to what people do in the rest of the world. It’s an eye opener,’ one user wrote.
‘God how Australia needs this,’ a second wrote.
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The Salaries of Singapore’s President, Ministers & MPs (2024)
The Salaries of Ministers in Singapore
The benchmark salary of an entry-level minister (MR4) in Singapore is $55,000 per month or $1,100,000 per year (including bonuses).
Here’s the formula to calculate the annual salary:
Total Annual Salary for MR4 Minister = Fixed (13 Months of Pay) + Variable (Annual Variable Component + Individual Performance Bonus + National Bonus)
Notes: The benchmark salary consists of a fixed pay of 13 months, 1 month of annual variable component, 3 months of individual performance bonus, and 3 months of the national bonus.
In total, 20 months of pay equates to $1,100,000, of which $715,000 is fixed and the rest is variable.
How is the benchmark salary of an entry-level minister (MR4) determined?
It is based on the median income of the 1,000 highest-earning Singapore citizens, with a 40 per cent discount to reflect the ethos of political service, according to the Public Service Division’s website.
The salary of an MR4 Minister is an important one because the salaries of other political appointment holders are in ratio to the MR4, reflecting the different roles and responsibilities.
The Salary of Singapore’s Prime Minister
The benchmark salary of the prime minister of Singapore is $2,200,000 per year (including bonuses). This is twice that of an entry-level minister.
Unlike other ministers, there is no one to evaluate the prime minister’s individual performance, so the salary package only includes the monthly salary, 13th-month bonus, annual variable component, and national bonus.
The national bonus is based on 4 socio-economic indicators weighted equally:
1. Real median income growth rate of the average Singaporean
2. Real income growth rate of the lowest 20th percentile of Singaporean income earners
3. Unemployment rate of Singaporeans
4. Real gross domestic product (GDP) growth rate
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White Paper – Salaries for a Capable and Committed Government- 2012 still in place 50 Page PDF
Introductory Note from the Government
Before 1994, the Government did not have formal salary benchmarks for Ministers, although it had set their salaries through informal comparisons with the private sector.
Despite periodic salary revisions, Ministerial remuneration continued to lag the private sector by a wide margin.
Given the wider range of private sector opportunities in a rapidly developing economy, attracting and retaining able people, especially those with the potential to hold top leadership positions, became increasingly challenging.
While high income should never be the motivation for a person to become a Minister, paying realistic salaries that do not impose an unrealistically large financial sacrifice on those contemplating political office will reduce onesignificant obstacle to able Singaporeans entering politics.
Hence, in 1994, the Government published a White Paper “Competitive Salaries for Competent and Honest Government” that introduced a benchmark pegging Ministerial salaries based on alternative professions that could have been pursued by a Minister.
The benchmark incorporated a significant discount to the privatesector so that a Minister’s salary will not fully match the private sector, to reflect the ethos of sacrifice that political service involves.
Ministers are paid a clean wage without any hidden perks.
This ensures transparency and accountability to the electorate.
The salary benchmark was refined in 2000, together with changes to the structure of Ministerial salaries. In 2007, a salary revision was made to narrow the gap between the benchmark and actual salaries, and to include the imputed value of pensions when making comparisons to the benchmark.
In 2009, when Singapore experienced a sharp recession arising from the global financial crisis, Ministerial salaries were automatically reduced by 22% in accordance with the formula.
Even though salaries have been adjusted and moved up and down with the state of the economy, since the implementation of the 1994 framework, actual salaries for Ministers have never reached the benchmark.
In his swearing-in speech on 21 May 2011 after the General Election, the Prime Minister acknowledged that Singaporeans had genuine concerns over the present salaries of their leaders.
At the same time, Ministers should be paid properly so that Singapore will have capable and committed leadership over the long term.
Thus, the Prime Minister appointed a committee to review the basis and level of salaries for the President, Prime Minister, political
appointment holders and MPs to ensure that the salary framework will remain relevant for the future.
The Committee has completed its review and submitted the attached report to the Prime Minister on 30 December 2011.
The Government has considered the report carefully and agrees with the key principles and approach adopted by the Committee.
The Government has accepted all the recommendations in the report and intends to use this as the new basis to set salaries with
retrospective effect from 21 May 2011.
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Make
Australia
Great
Again
Turn back the clock to 1975 and start winding back United Nations treaties and agreements signed by the Commonwealth of Australia Federal Government and complimentary legislation and regulations by State Governmemnts, including the crippling compliance costs and demands. Look at taxation, company tax and payroll tax – Federal and State.
Stop standing in the way of nation building development applications and opportunities, not only in the mining sector but others including farming sector and for example the irrigation farming prospects of Northern Australia building to the East from Kununurra Western Australia using the “wild rivers” to dam and capture some of the wet season rainfall.
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Wish I were back in the country to be there…
Some excellent people in the mix. Of them, I’ve only met Gary Johns, who spoke at a small event organised by a friend of mine a few years ago. He surprised and impressed me immensely with his knowledge and views regarding aboriginal issues, and we all had a good chat and few laughs over some beers afterwards.
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Spoke to Malcolm Roberts at a conference in Sydney a few years ago. A really decent human being.
Jo and Peter were there as well.
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Absolutely. I think Malcolm is the country’s best representative bar none. There are some other good ones, including the LNP mavericks Antic, Rennick and Canavan, Pauline Hanson, and Ralph Babes, plus a handful of state members. But Malcolm is in a league of his own in making the government of the day and the bureaucrats squirm in their seats with his unrelenting, accurate scrutiny. If only we could clone him and get the clones into parliament…
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Wow, that sounds fantastic.
I have only one concern, where is Albury.
Isn’t that down near Dan’s country.
Will have a good think about it.
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Just over the border from Victoriastan so your safe .
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