Wednesday, May 25, 2005

Treasury's Ready Reckoner

Now, this Ready Reckoner provided by The Treasury looks a fun and interesting reference. Note that there are some basic assumptions made for these values, so one should read the introduction. Or not :)

Anyway, lets see how much that $348m tax cut translates to...

  • a 0.41% reduction in GST
  • a reduction in the petrol excise duty approaching 10c/litre - the petrol tax went up 5c on 1 April this year!

And my favourite...

  • a wholesale reduction across the four effective tax rates of a whopping 0.46%!

Gee thanks Michael. That's so generous of you. But whats that? I've got three years of inflation to get through first before I get a cut? Bastard.

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