One Nation proposes reducing it further
Foreign Debt now exceeds US$1,060 billion.
105,000 people homeless.
22% of young men out of work.
3 million in poverty.
6.5 million on welfare.
Breakdown in marriages now 50%.
Household debt running at
125% of average income.
Crime bill $31.7 billion.
Only 2 out of 5 will have a real job
A widening gap between rich
& poor.
The plight of the farmers.
Food imports now exceed $12.5 million per day.
Why? Because the Liberal/Labor two party coalition
committed you to globalisation, sold our assets & violated our sovereignty.
Destroying our manufacturing & rural industries creating massive debts
& borrowings resulting in GST, taxes on savings, super, seniors, assets
& peak oil parity fuel price scam, ensuring you pay the interest.
Only
by reforming the Nations finances & taxation can we save Australia from the
control of the CFR. moneymen.
POLICY
#8 TAXATION & FINANCE
One
Nation will empower finance, bank & tax review, replacing the GST with a complete
reform of the tax system, it is the only way to resolve the inequities,
complexities, disincentives & punishing nature of this tax system, that
imposes too much burden on the shoulders of low & middle income earners
& seniors, whilst large multinational companies are exempt from paying tax
in Australia. It benefits fully imported products, at the expense of Australian
jobs.
ONE
NATION proposes replacing it with the 21st Century Electronic Debit Tax, that
will remove all the inequities, supply sufficient revenue direct to treasury,
& eliminate taxation as a political issue. Banking & currency will
return to government control, value of the dollar will be controlled by the
wealth of our resources & not foreign speculation, restrictions on other
Australian financial institutions will be removed, especially credit unions, A
National Superannuation fund will be set up, to invest in national development,
as an alternative to private funds.
THE
21ST CENTURY DEBIT TAX
To
understand the DEBIT TAX entails a reversal of the normal concept of imposing a
tax. As an accepted practice, taxes have been imposed on ownership, duties,
goods & services, & in later years, on income. Now with the modern
computer, it is possible to impose a tax on an intent to use an amount of money
withdrawn from a bank account, rather than on the ability to pay, as has been
practiced from the beginning of time.
Unlike
all other taxation systems the Debit Tax does not require you or any business
or organization to give an account of transactions to the Government. At the
moment of withdrawal, the Treasury department identifies the debit column in a
bank account number, & automatically collects by EFT an added minuscule tax
of EG; (1 cent, per dollar or $1 per $100), from the account, & instantaneously
deposits it into the National Treasury.
The
Treasury Department is the only tax collector operating through a chain of
computers linked to all banks & financial institutions & programmed as
part of the monetary system. With the chip, the computer & E-money, it is
possible to completely change the present method of taxation.
The
21ST CENTURY DEBIT TAX system is the
most efficient tax system ever devised by man to fund the National Treasury of
any developed nation.
Tax
collecting now becomes the function of a programmed computer linked to the
banking system under the control of the Treasury Department. Individuals,
businesses, & corporations will no longer be required to be self tax
collectors as they are today, thus eliminating potential sources of injustice
& corruption.
Most
assuring to the ordinary citizen is the knowledge that he will no longer be
faced with the possibility of losing his present possessions because he is
unable to pay his Income Tax. Neither will he be daunted or even terrorized by
the thought of fines or imprisonment because of a delinquent tax.
It
will allow for the introduction of such things as free health care & a
secure liveable pension for seniors without means test. Also the introduction
of a Natural Disaster Scheme plus other incentives.
The
banking industry is not involved in the Debit Tax system. Government payments
that emanate from the Federal Reserve Bank are not subject to the Debit Tax.
The Debit tax is not usable or collectable by a city, municipality, or state as
these governments are not a part of the monitory system.
THE 21ST CENTURY DEBIT TAX, provides the following advantages:
1. It replaces all existing Revenue Tax Laws
for the support of the Australian Government & all other Federal
taxes.
2. It will supply the necessary revenue
for full financial support of the Australian Government.
3. No more filling of individual or
corporate Income Tax Returns or Business Activity Statements will be required.
4. There is no tax on profits, Capital
Gains, Assets or Savings. An incentive to save for retirement.
5. There will be no tax on Goods &
Services.
6. There is only one collector, the
National Treasury & only one minuscule tax rate (One Percent) for all. (NO FAVOURS), linked to all banks &
financial institutions.
7. There is no accounting to the
Government on the status of our wealth.
8. Personal wealth will no longer be
public knowledge.
9. Tax delays, cheating, fraud & tax
avoidance or evasion are impossible.
10. Through automation, tax delinquents
& delays are not possible.
11. Not having to pay Income Tax is a great
incentive to investors.
12. An immediate increase in the value of
the Australian dollar will occur.
13. The exclusive use of cash currency
becomes counterproductive.
14. The Debit Tax is welcome, as it does
not interfere with banking
operations.
15. There will be a continuous flow of
Revenue 24 hours a day, every day, collected by EFT, which is the ultimate in
efficiency.
16. The DEBIT-TAX. is constitutional &
an integral part of our modern monetary tax system, never possible before the
computer.
17. It will allow for the introduction of
such things as free health
& education for all.
18. Also the introduction of a National
Natural Disaster Scheme
plus other incentives.
19. Unemployment will be eliminated. With
no taxation barriers,
business can employ more people.
20. The Taxation Office is abolished,
saving pa,
$1,635,536,000.00
21. Will also extinguish our Foreign Debt.
22. Parity pricing, excise tax & GST on
fuel will be removed, reducing uniform maximum prices of fuel to:
Cents
per litre: Petrol 50, Diesel 40 & LPG 20.
GUIDE
TO FORMULATING AUSTRALIAN REVENUE
On
the basis to bank payments supplied by the Australian Reserve Bank, the Tax
Rate is determined as follows: -
The revenue required per year Divided by
Bank payments/withdrawals In Australia $70,000 billion dollars are withdrawn
annually from account numbers through the banking industry.
$70,000 billion withdrawals @ 1 cent Tax
Rate produces $700 billion in revenue per year.
Totals
Tax Collected 2002-2003 $206.2 billion + GST $31.3 billion.
Total
$237.5 billion. Debit Tax provides an
additional $462.500 billion in revenue.
Questions & answers on
Debit Tax;
Q: How will the Debit tax
affect share trading?
There
might be some resistance initially as all share trading is completely tax-free
at present. (One only gets taxed on
profits generated from share trading).
Under
the debit-tax system all profits are tax free (as there will be no tax on
income) & the 1% will be paid by the buyer, not the seller, you buy shares
today, pay 1% tax & when you sell the shares in say, 10 years time, there
is no tax on your profit or your capital gains.
Q:
How will this system affect the thousands of public servants currently employed
by the present tax system?
This will be the golden opportunity for
our public workers to target the money launderers, the black market economy
& other illegal transactions, which are currently sucking so much out of
our economy. Also, the new system will be creating so much employment that
those who wish to leave the public
service will be able to do so to follow their own private ventures.
Q:
How will Superannuation work?
Superannuation
will no longer have to be paid by employers. Great news for small business. As
the employees are not being taxed on their income (they only get taxed 1% on
their withdrawals) the current 9% Superannuation levy will come off their gross
earnings & go into a Government Fund which will be managed by the Treasury
or a Ministry of Finance to ensure that the returns from each individual are
the same or even better than the Multinationals
Superannuation
funds currently managing these funds. This money shall be invested in local
industry, thus providing growth in all sectors including that of employment.
Employees will still have the option to further invest in other private
superannuation funds of their choice to increase retirement savings. This
system will create more jobs as well as guaranteeing the future of the
Australian workers.
In brief, an employee who earns $1000 a
week will invest 8% ($80) into the Government Superfund & take home $920,
if he or she spends the full amount of the balance it will only cost them a
further 1% ($9.20) thus their NET PAY will be $910.80 instead of $670 which
they are currently taking home. (You don't have to have a PhD in Economics to
realize what this extra net income will do to the economy of any country)
FINANCE
One Nation is committed to reform of the
financial system, we propose reinstating Australia's "Peoples Bank"
eg: Commonwealth Bank founded by King O'Malley & operated from 1912-1923.
It exercised a powerful check on interest rates during the inflationary WW1
period, & handled loan allocations at a much lower rate than private banks,
with half the profits being placed to the credit of the National Debt Sinking
Fund. It was so successful that political pressure was bought about to
eventually privatise it.
According to the "Chrisby
Papers" it would be constitutionally OK to set up a state peoples bank eg:
"Bank of Queensland" or even the "Bank of Australia". We
also propose to free restrictions on Credit Unions to allow them to compete
with foreign banks.
One
Nation is ashamed of our Government Ministers who travel around the world with
begging bowls, cringing at the feet of the CFR
(Zionist Bankers) for their cut from the IMF slush funds, & borrowing
money to pay for our imports, foreign aid & fund their economic
mis-management of our economy, defying the Australian Constitution &
abrogating their elected responsibility to the Australian people.
One
Nation will correct the situation, starting with taxation & financial
reform, retention of our public assets, developing our vast resources of
minerals & energy, & processing them here, re-regulation to protect our
rural industries & reduce fuel prices & in so doing create wealth, jobs
& prosperity for all Australians.
Ref.
Debit Tax Council Australia Inc.‘Decent into Poverty’ Des Griffen ‘Globalisation’ & 22 Steps to Global
Tyranny” Graham Strachan. Rev. CL wk 03/06
SAVE AUSTRALIA
Join One Nation in our fight for tax reform