Tax

The Carbon Tax program outlined by the Gillard Government is so generous that it borders on being too good to be true… or a bribe to get the system through. The Government has gone out of its way to ensure most Australians and businesses will feel very little impact of the carbon tax impost with compensation covering any pain.

The most intriguing initiative is that the first 9 months of compensation will be paid in advance. The tax will start on July 1 next year but the first 9 months will be paid next May/June.

In a nutshell;

. 4 million Australian households will make a 20 per cent profit… that means they’ll get 20 per cent more compensation that what their costs will go up.

. 2 million households will have their costs covered.

. 2 million households will make a loss because they won’t be fully compensated.

. 700,000 of the richest households won’t get any compensation at all.