Reserve Bank to Set Taxation Rates

The Reserve Bank has proven to be a responsible and effective institution to manager the highs and lows of the Australian Economy by raising and lowering the cash rates and controlling the flow of money to and from Government.

The other effective tool that we have is the lowering or raising of Taxation rates to enable the influx or egress of money too and from the economy. Currently this is still in the hands of Politicians.

We propose to extend the powers of the Reserve Bank to include the setting of both Personal and Corporate taxation rates to help control the highs and lows of the economic cycles.

The long term aim is to imbed these powers into the constitution to prevent Politicians from taking these powers away from the Reserve Bank and permanently de-politicise  the setting of these rates.

We will also legislate to make payments made to certain geographical locations or institutional organisations (that have been identified as "Taxation Havens") no longer tax deductible ensuring that profits made in Australia attract the correct tax which is paid in Australia.   

Naturally, nobody enjoys paying taxes however if everyone pays the correct tax, everyone pays less tax.