The below “Guest Mannerism” is written by Mannkal’s Chairman Designate Mac Nichols.
In 1948 The West German Finance Minister, Ludwig Erhard instituted “7D” of the tax code in response to the challenge of rebuilding a shattered country.
This meant that any money invested in shipping or ship building was tax exempt. And any profits which earned export income were also tax exempt.
Out of two billion DM invested by 1953, 1.5 billion DM was from German citizens.
If our esteemed Treasurer is so keen for Australians to keep their jobs, as we rebuild after the pandemic, the Treasury could give investors a 100% tax break on all income spent on research and development and also a ten year tax break on all income derived from any primary production that may ensue. And furthermore, a permanent tax deduction, on all export income derived from such projects.
All Australians could then genuinely own shares in productive exploration, mining and farming companies if they were so inclined.
And many Australians would be employed in such operations from every profession, trade and occupation.
The policy alone would rapidly empty the cities to manageable sizes, as new towns grew around new mining, agricultural and manufacturing operations in Australia.
And any economically constructed infrastructure such as ports, railways, dams and other facilities could all be built by private enterprise receiving 100% tax breaks for 20 years and then a 50% tax break thereafter.
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1 Comment
I totally agree!