Actual current time in Cancun, Mexico, DST, Daylight Savings Time conversion dates 2015, GMT offset, fall time change 2015 Cancun clock.
Flat tax. A flat tax is exactly what it sounds like: a consistent tax rate applied to all tax brackets. A true flat tax would mean, as Dr. Carson explained, that everyone would pay the same tax rate regardless of income (he suggested 10% since that âworks for Godâ). Flat taxes are usually imposed on wages only, meaning that thereâs no tax on capital gains or investments.
It is true the corporate tax rate at 30% is higher than some other countries in our region, but it is average compared to G7 countries. Further, Australiaâs franked dividends system means Australian shareholders already enjoy favourable tax conditions on income earned from their investment in companies.