Sunday, 21 April 2013

To avoid the looming generational war...


We also need to tax the asset rich/cash poor (over 65′s) more.

1. GST to 20% and raise welfare and the tax free threshold accordingly to compensate.
2. Land tax to replace stamps and create reverse mortgages from Centrelink for those that are asset rich/cash for to pay.
3. CGT on all property sold under 10 years. Exemptions for real reasons to move – health, babies and work. No CGT after 10 years, ZERO!
4. Death tax on the value over $1million at 25%. (Rural and ongoing businesses exempt.)
5. Asset test the PPOR (value over $750k) for pension eligibility and also provide reverse mortgages exclusively from the govt, to those asset rich/cash poor. It is not fair that pensioners can live in a $5 million dollar home, have $1m in cash and still get a part pension!

1 comment:

Comments by approval only, sometimes... :-)