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28 May 10 More on the optional standard deduction

MEMBER 171 writes:

"I write about the proposed auto $500 refund and [possible future] abolition of individual tax returns. As far as I am concerned, taxpayers...have brought this upon themselves, because of the cheating that has been going on for many years in individual tax returns. The ATO have lost control. They no longer can financially afford to employ roughly 85% of their 25,000 staff doing audit type work. If more...taxpayers were honest and did some legitimate tax planning, the ATO and the government may probably not have had to do this. I don’t sympathize with people anymore that complain about changes. Yes, it is hard, as I do financial planning as well as being a tax agent; I see that we are all victims of the stupidity of others and the GFC. Not much we can do but be professional, deal with the problems and move forward. Don’t blame the ATO guys – blame politicians that can’t stop tinkering with the tax system, the financial planning profession and Centrelink/superannuation and so on. Blame the politicians that keep using these “issues” to score quick brownie points to get themselves re-elected based on the worst human emotion, which is being greedy for money."

 


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