HOW MUCH TAX IS PAID ON A SLAB OF VB ?
(And could someone please check my maths as this seems ridiculous)
$59.00 retail
$53.64 (excluding GST)
💰$5.36 GST
*Beer Excise $61.57 per litre of alcohol
30 cans x 375ml = 11.25 litres of beer
11.25 litres x 4.9% alcohol = 0.551 litres alcohol
0.551 x $61.57 excise =💰 $33.90
💰Total tax
$5.36 GST + $33.90 excise = $39.26 Tax
$39.26/$59.00 = 66.5% tax
But it’s worse than that.
You can only buy beer with after tax income.
So if your marginal tax rate is 30% on income between $40K up to $135K)
You have to earn $85 (and pay $25.50)in income tax to be left with $59 to buy the slab of beer.
So in buying the slab, you need to earn $85, and you pay $25.50 in income tax, then you pay $33.90 in excise, and then $5.36 in GST.
So in total you‘ve paid $64.74 in tax to enjoy your $59 slab of beer.
So of the $85 you had to earn to buy the slab 76% ($64.74) goes in tax to the Federal government.
But it’s still worse ….
As of the total price of the slab, that leaves just $19.74 for the farmer, the brewer, the aluminium can maker, the transport company, the cardboard box maker and the retailer - and all the taxes they pay.
Australia desperately needs a DOGE to eliminate waste and fraud so government spending can be cut, and that money returned to the Australian taxpayer.
🟡It’s time to vote Libertarian.
*Excise rates https://t.co/TEZDYbzij5
A new year with the same old scams. A whole new bunch of punters have started to follow in the last few months so I thought I would start 2025 just like last year, by pointing out the biggest scam ever pulled on the Aussie punter that is still being run to this very day! #auspol