In every other country in the world, this would not be reflected in the Budget, under IMF fiscal reporting guidelines, as an expenditure – because this sum was not spent, but merely parked as an “accounting” vehicle from which the annual interest will be used as expenditure in future years.
$8.37 billion Budget surplus?
So, if we add this $8.5 billion back to the overall Budget deficit of $0.13 billion – we get a budget surplus of $8.37 billion, instead of a deficit.
More than $23.86 billion indirect and consumption taxes?
Although our income taxes appear to be relatively low compared to other countries – we have a lot of indirect and consumption taxes, such as motor vehicle taxes and COE ($5.48 billion), GST ($10.11 billion), etc.
Therefore, just these two items alone is already $15.59 billion.
$16.6 billion land sales revenue
There is also no mention of the revenue from land sales ....http://www.theonlinecitizen.com/2015/02/over-24b-hidden-from-the-public-eye/
$8.37 billion Budget surplus?
So, if we add this $8.5 billion back to the overall Budget deficit of $0.13 billion – we get a budget surplus of $8.37 billion, instead of a deficit.
More than $23.86 billion indirect and consumption taxes?
Although our income taxes appear to be relatively low compared to other countries – we have a lot of indirect and consumption taxes, such as motor vehicle taxes and COE ($5.48 billion), GST ($10.11 billion), etc.
Therefore, just these two items alone is already $15.59 billion.
$16.6 billion land sales revenue
There is also no mention of the revenue from land sales ....http://www.theonlinecitizen.com/2015/02/over-24b-hidden-from-the-public-eye/
