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Income tax, why are we out of step
athex
post Posted: Jun 22 2010, 11:37 PM
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In Reply To: flower's post @ Jun 22 2010, 11:23 PM

Thanks for that,flower,I too left around then and visited in 89.
Wasn't aware of the onerous taxes etc and have no wish to be there as I have found that it is better to have fond memories intact rather than dispelled by returning to old haunts (hence one visit).
My point was only to highlight the fact that we start taxing incomes at a level that would be impossible to live on and it seemed to make sense to make a tax free level closer to the level at which one might scrape by on,the added cost to the government would be something our current leaders would take in their stride. LOL.

 
flower
post Posted: Jun 22 2010, 11:23 PM
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In Reply To: athex's post @ Jun 22 2010, 10:53 PM

Hi athex--we, out if step with the UK?? be very careful what you wish for!

I tend to be in Europe, mainly GB every three years, so maybe some comparisons may be in order:

1. Cost of general living in the UK about double ours.

2. Isle of Man, Jersey, all the channel islands are designated tax havens. Try and buy a house in a tax haven---you need to be a sterling millionaire just for the humblest of houses.

3. VAT (hereGST) in England 17.5%

4. Death Duties (which we dont have). UK tax man takes 40% of EVERYTHING you leave when you die--including your house above about 350,000 pounds. (average house price in UK probably 500,000 pounds). You can get out of that tax by leaving all your property to the kids 7 years before you die--but do you want to be at the mercy of your kids, kids wives, kids ex wives?

5. When you get to over 73 years old I think it is you are FORCED to buy an annuity--which means when you eventually die your dependants get nearly nothing whilst not being able to trade till you die--annuities are horrible beasts.

Which is why UK tax havens are in such demand!

6. Have you tried driving/parking in an English town--after driving in WA? (lane discipline may be a lot better but thats no good when you cant park the B thing).

7. The weather---

I left nearly 40 years ago---there still exist some great open countryside, but live there as against here? NO WAY.

This is PARADISE--please dont complain about the Oz tax system. (apart from K.Rudd's planned special)

Hundreds of others, then you have to put up with officialdom from Brussels--daily and all intrusive.



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Combining Fundamental comments with Fundamental charts.
 
athex
post Posted: Jun 22 2010, 10:53 PM
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Noticed the the Isle of Man has an income tax rate of 10% and the new UK aim is to not impose tax on the first 10000 pounds (around $17000) of income,whilst here in the lucky country we pay tax from $6000 .
Forgotten what the poverty line was but it's probably about $300 per week or $15000 pa,so maybe this rich lucky country should be closer or better than the financially crippled UK.

 
 



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