This is a budget line in the federal budget. There's a large cost ($550 million) in the first year it comes into place, then some smaller revenue projections after thatpic.twitter.com/scWvaqc5M4
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This is a budget line in the federal budget. There's a large cost ($550 million) in the first year it comes into place, then some smaller revenue projections after thatpic.twitter.com/scWvaqc5M4
Basically, the government is extending tax breaks for small businesses. They are then projecting growth in this sector leading to higher tax income due to these tax breakspic.twitter.com/Cy2BEULYXv
The idea is, you make it easier for small businesses to operate, they eventually repay you with the tax on all their profits In theory? Fine
In practice, we've had these measures in place since 2014 and there's still no evidence that they are improving taxation revenue
As one example, the place where I once worked used the tax concession to buy a printer so that the CEO could afford his Maserati. Hardly a net positive for the government
What's actually happening here? Well, the government gave small business owners a massive increase in income in 2014. And they want to keep itpic.twitter.com/QXF1SGzgmt
The revenue you see here - the 50 and 150 numbers - are just hopeful posturing to push through a popular measure that will likely only end up losing tons of moneypic.twitter.com/FDn1j59FGT
This is true for a large number of budget projections. People predict they'll make tons of money from something in 2021, knowing it won't be there problem if it fails #auspol
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