I just want to understand how this is even possible??
https://www.abc.net.au/news/2022-08-09/millionaires-paid-no-…
Also, the median earning Australian made $48,381.
Does this mean most ozbargainers are very well off with all the threads of people making 3-4 times this amount?
Problem with the article is it doesn't actually break down how they got to zero.
If you take the numbers there is a big hole. I could get my tax to zero by making sending my whole pay to charity or into super and get taxed in there.
Don't believe everything that you read.
People who are intelligent generally try to reduce their taxable income.
Why pay more tax than you are legally required?
Its not like the government is spending it that well that we should be donating extra!!!
Kerry Packer stated this succinctly: https://www.youtube.com/watch?v=DBg7DnQjjcY
People who are intelligent generally try to reduce their taxable income
That is just wrong. Look at tradies that probably only finished year 10. Pays their wife, mum, dad, buys a HiLux dual cab to do the school runs. Materials disappearing off building sites and end up in their private residences. Over quote and ask if you want to pay cash?
Does this mean most ozbargainers are very well off with all the threads of people making 3-4 times this amount?
Yes. Top 10% of income earners in Australia are at approximately 100k-110k.
People at this level think they are average Australians, or even less than average as they aren't millionaires and have a large mortgage.
The people who dodge taxes are above the top 1%
Why doesn't ATO with their billion dollars annual budget target mining companies and billionaires like Gina Rinehart to pay their fair share of taxes, instead of coming after the surgeon making $500k a year after ten years of training? What gives Gina Rinehart more right to accumulate billions by digging dirt from our soil, over the surgeon who over the course of their lifetime may accumulate a couple of millions with their surgical expertise?
Its astonishing how the billionaires through their control of politicians and mass media have twisted the tax debate for us honest taxpayers to fight amongst ourselves. The Australian people should demand accountability to check if ATO execs subsequently cross-over into lucrative mining roles, if RBA execs retire into multi-millions banking advisory roles, and if politicians have a cushy $800k NY/London trade job waiting at the end of their political career? All these calls for a federal Corruption commission, which the liberal party has fought so hard against in their decades long control of our country.
It means you fell for a clickbait title.