Max is quite correct in what he says, but he omitted what is probably one of the most controversial issues: Financial services are not subject to GST. Therefore house sales are not GST-liable, interest on loans is exempted, earnings on investments, that kind of thing. This was, and still is, a bone of contention. But it's internally consistent and doesn't produce downstream anomalies, so the Government has left it alone. Until now. I hear a parliamentary methane-production group (or select committee) will be looking at this soon.


The idiot also known as Capfka ...