An accountant who specialises in boosting tax returns has been condemned over a ‘despicable’ ad calling for income tax to be abolished.
Atlas Chartered Accountants posted a photo of a construction worker alongside the words ‘Income tax: The fine you pay for the crime of being productive and useful.’
‘We make sure all deductions legally available are deducted to minimise your tax… it’s not like the government will spend it wisely,’ the firm wrote as a caption.
Atlas’ Facebook page was flooded with dozens of comments overwhelmingly critical of this sentiment, arguing tax was necessary for Australia to function.
Atlas Chartered Accountants posted a stock photo of a construction worker alongside the words ‘Income tax: The fine you pay for the crime of being productive and useful’
But owner Samuel Lee said he stood by the ad and went even further in a detailed criticism of income tax when contacted by Daily Mail Australia.
‘Why should a person who made all the right choices in life and put in 50 or 60 hours a week at the expense of his family to earn more money be punished by paying almost half his income in tax?’ he said.
‘Taxes could be better used expanding businesses and hiring more people. The government is just trying to fund its bloated and wasteful programs.’
Under Australia’s progressive tax system, individuals are taxed at higher rates the more they earn each year.
Income up to $18,201 is untaxed, money between that and $37,000 taxed at 32.5 per cent, and so on with any income above $180,000 taxed at the top rate of 45 per cent.
Companies are charged a flat rate of 30 per cent on their profits with small businesses charged 27.5 per cent.
Mr Lee not only opposes progressive tax rates, but wants both income and company tax done away with entirely.
‘A lot of my clients starting out in their new business could have saved up more to hire more people who need jobs,’ he said.
Mr Lee claimed entrepreneurs were fleeing overseas instead of investing in Australia and creating jobs
Atlas’ Facebook page was flooded with dozens of comments overwhelmingly critical of this sentiment, arguing tax was necessary for Australia to function
The money man based in Pyrmont, Sydney, claimed entrepreneurs were fleeing overseas instead of investing in Australia and creating jobs.
Owner Samuel Lee said he stood by the ad and went even further in a detailed criticism of income tax – calling for it to be abolished
‘Australia has one of the most progressive tax systems in the world and there are so many business owners who have moved to Singapore where the [company] tax rate is only 17 per cent,’ he said.
‘Now because of the Australian government’s greed they are getting zero tax revenue from them.
‘High tax rates and regulations make business owners unable to invest in Australia, and instead they go elsewhere.’
Mr Lee instead proposed the GST be doubled to 20 per cent and the Australia Tax Office workforce slashed by 90 per cent.
He claimed this would result in huge savings from largely abolishing the cost of administering the income and company tax systems.
‘Then 100 per cent of what you earn, you keep, and you pay taxes when you choose to because you choose when to spend your money (through GST),’ he said.
‘You have more power and a fairer tax system. You could buy a $30,000 car instead of a $300,000 Maserati and pay less tax.’
Mr Lee acknowledged wealthier people should give back to society, but they should be allowed to do it voluntarily through charitable donations.
The business owner regularly posts both on his personal and Atlas’ Facebook pages about the evils of income tax and related issues.
Common targets include penalty rates, the minimum wage, luxury car taxes, ‘socialism’, and ‘government handouts’.
Mr Lee instead proposed the GST doubled to 20 per cent and the Australia Tax Office workforce slashed by 90 per cent
Most of his posts only attracted a few responses, but the anti-tax ad soon had dozens condemning it as ‘despicable’.
‘You’d be the first to whinge at the understaffing in the ER dept if you were admitted to hospital, or the poor public transport services when you next catch a train, or drive on potholed roads that damage your BMW rims,’ one wrote.
‘This lack of understanding of how the world works destroys any confidence in your ability to competently manage my tax,’ another wrote.
Others pointed out that ‘schools, hospitals, fire stations, etc doesn’t grow on trees’ and taxes were needed to ‘take care of the vulnerable and marginalised’.
‘Exactly what part of the federal budget do you think we should get rid of? Education? Healthcare? Infrastructure? National defense? Social security?’ one asked.