Taxation in Advanced Countries

Singaporeans are scared of taxes ... so a review of taxes here. USA, Canada, Australia are lower tax countries.



Source: OECD (2007a)

Australia's tax to GDP ratio is the eighth lowest in the OECD and substantially below the OECD average of 36.2 per cent.

The gap between Australia's tax to GDP ratio and the OECD average has remained relatively constant at around 5.5 percentage points of GDP since 1965. Compared with the nine most comparable OECD countries, Australia's tax to GDP ratio is about average. However, two of the nine countries with lower tax to GDP ratios than Australia also run significant fiscal deficits (the United States and Japan).

As a percentage of GDP, tax revenue in Australia is significantly higher than most ASEAN countries, as shown in the chart below. While tax revenue in Brunei Darussalam is around the same as that of Australia as a percentage of GDP, 95 per cent of this comes from oil and gas companies. For many of these countries non‑tax revenues, such as land sales and official development assistance, contribute a more significant proportion of overall government revenue. The role of government also tends to be more limited. When considering investment decisions, tax is only one of a range of factors, including: macroeconomic stability; a supportive legal and regulatory framework; skilled labour and labour market flexibility; and well‑developed infrastructure. It is plausible that as these economies grow and the standards of living of our immediate neighbours rise, the role of government and the level of taxation in these countries will expand, as has been the case across most OECD countries over past decades.

The chart also shows a range of other countries, including Brazil, China, India, Russia and South Africa. Brazil, China, India and Russia represent around a quarter of world GDP and are increasingly integrating into the world economy. China and India are important trading partners and competitors for Australia. Brazil and Russia are significant commodity exporters, particularly in agricultural and resource commodities. South Africa is also an important commodity producer and exporter, particularly of minerals.

Relative to Brazil, China and India, Australia's tax to GDP ratio is high. It is more comparable with that of Russia and South Africa. In part, this reflects differences in the role of government expenditure. In Russia and South Africa, social expenditure as a proportion of total government expenditure is more comparable with Australia.



Singaporeans who are scared of paying tax should migrate to Burma or Brunei (must marry the native bumi Bruneian in order to skip tax).

neddy said:

Singaporeans are scared of taxes ... so a review of taxes here. USA, Canada, Australia are lower tax countries.

Source: OECD (2007a)

Australia's tax to GDP ratio is the eighth lowest in the OECD and substantially below the OECD average of 36.2 per cent.

The gap between Australia's tax to GDP ratio and the OECD average has remained relatively constant at around 5.5 percentage points of GDP since 1965. Compared with the nine most comparable OECD countries, Australia's tax to GDP ratio is about average. However, two of the nine countries with lower tax to GDP ratios than Australia also run significant fiscal deficits (the United States and Japan).

Click to expand...

Now now we all know some of the higest IDIVIDUAL INCOME TAXES in the world are in Australia, the worst country in the world

LOL Tax to GDP ratio is meaninless

What's next? Australia's tax to carbon emissions

LOL LOL LOL

Aussie Prick said:

Now now we all know some of the higest IDIVIDUAL INCOME TAXES in the world are in Australia, the worst country in the world

LOL Tax to GDP ratio is meaninless

What's next? Australia's tax to carbon emissions

LOL LOL LOL

Click to expand...

Apparently, you are a sore loser who is still unable to get on with life after being cheated in Arsetralia.
What a waste of life. Unable to move on ... tsk tsk tsk



Originally Posted by Leongsam
A piece of advice to those who intend to emigrate from that shit hole of a little red dot... you are not stuck where you first land. Options will present themselves on a regular basis for you to improve your lot further.

.....

As for taxes they may look high on paper but there are so many ways of getting your tax money back from the govt. There are also numerous grants (state and federal) that can actually put you in the black. There were some years where I actually got more out of the govt than they took from me. You'll never get a freakin' cent out of the PAP

neddy said:

Apparently, you are a sore loser who is still unable to get on with life after being cheated in Arsetralia.
What a waste of life. Unable to move on ... tsk tsk tsk



Originally Posted by Leongsam
A piece of advice to those who intend to emigrate from that shit hole of a little red dot... you are not stuck where you first land. Options will present themselves on a regular basis for you to improve your lot further.

.....

As for taxes they may look high on paper but there are so many ways of getting your tax money back from the govt. There are also numerous grants (state and federal) that can actually put you in the black. There were some years where I actually got more out of the govt than they took from me. You'll never get a freakin' cent out of the PAP

Click to expand...

Nah

Just heard about those horrible taxes round the dinner table from friends and family. Gave me nightmares. 40% taxes. 10% GST. massive tax on petrol. massive tax on luxury cars. massive tax on tobacco etc etc etc

That sore loser would be you, stupid

Hee Hee Hee

:p:p:p:p:p:p

I have not explained that the Tax revenue to GDP ratio is used in macroeconomic as a measure of economic activities.

neddy said:

For many of these countries non‑tax revenues, such as land sales and official development assistance, contribute a more significant proportion of overall government revenue. The role of government also tends to be more limited. When considering investment decisions, tax is only one of a range of factors, including: macroeconomic stability; a supportive legal and regulatory framework; skilled labour and labour market flexibility; and well‑developed infrastructure. It is plausible that as these economies grow and the standards of living of our immediate neighbours rise, the role of government and the level of taxation in these countries will expand, as has been the case across most OECD countries over past decades.

Click to expand...

neddy said:

I have not explained that the Tax revenue to GDP ratio is used in macroeconomic as a measure of economic activities.

Click to expand...

Macroeconomic figures are irrelevant to individual consumers. We care about our pockets not the fiscal situation in Australia

So keep your 40% taxes , 10% GST ridiculous tax withholding rules 1000 hidden taxes and mountains to paperwork and stress caused by taxes

What a great reason to avoid Australia at all costs, like rich Australians who have abandoned thier own country

Quite understandable.

Aussie Prick said:

Macroeconomic figures are irrelevant to individual consumers. We care about our pockets not the fiscal situation in Australia

So keep your 40% taxes , 10% GST ridiculous tax withholding rules 1000 hidden taxes and mountains to paperwork and stress caused by taxes

What a great reason to avoid Australia at all costs, like rich Australians who have abandoned thier own country

Quite understandable.

Click to expand...

Wow, it is quite amazing that you are paying such high taxes. Obviously you have been ripped off.

Of course, I remembered, you did not even know that Darwin has tax relief.

neddy said:

Wow, it is quite amazing that you are paying such high taxes. Obviously you have been ripped off.

Of course, I remembered, you did not even know that Darwin has tax relief.

Click to expand...

You sound just like someone who has discovered too late Australia needs you and your 40% taxes, car taxes, 10% GST etc rather than the other way around

How does it feel to be cheated?

Hee Hee Hee

Aussie Prick said:

You sound just like someone who has discovered too late Australia needs you and your 40% taxes, car taxes, 10% GST etc rather than the other way around

How does it feel to be cheated?

Hee Hee Hee

Click to expand...

Like what I wrote before, it takes a dimwit like you to be cheated over and over again. It will be the same whereever you are.

I really envy someone like you who try to tackle this macroeconomic topic which I set to bait stupid people, and you responded.

Thanks for your entertainment. This forum will be so boring without you.

Hmmmm ...... It is so fun that now I am thinking of another topic to make you respond ....

neddy said:

Like what I wrote before, it takes a dimwit like you to be cheated over and over again. It will be the same whereever you are.

I really envy someone like you who try to tackle this macroeconomic topic which I set to bait stupid people, and you responded.

Thanks for your entertainment. This forum will be so boring without you.

Hmmmm ...... It is so fun that now I am thinking of another topic to make you respond ....

Click to expand...

Yawn, very boring.

Enjoy your ultra high cheating 40% taxes you noob

And thanks for showing us why we should avoid Australia and her terrible taxes

All 1000 of them

:p:p:p:p:p:p:p:p