Taxes are to be paid by all citizens as it is a part of the law. However, many refuse to follow this law or tend to dodge it. This creates many issues for the government of Australia. This is because the government uses the tax that payers pay for various different facilities. For example, some of those facilities are affordable housing and water, transport systems, building public buildings, maintaining parks, and also many other facilities that we all reap the benefit of.
However, even though this tax benefits the customer, how does it benefit the average person like me or you? If we pay taxes, what is it that we get in return for our money and how is it of any use to us? Well, this is the question we will be answering today in this article. Read below for some benefits that are outcome of paying your taxes to the government of Australia. You can click here for quantity surveyor in Sydney
- Safeguard credit
If you, at any time, shortly plan on applying for a loan, being a taxpayer is an added benefit. When the committee observes that you pay your taxes and can pay your dues on time, it safeguards your credit hence giving you a much higher chance of obtaining a loan from the bank. Also, when you plan on renting a house, getting a credit card or any other activities which require some sort of loan, having a good credit score which can be safeguarded and achieved through paying taxes.
When people pay their taxes, we enjoy facilities that are for free. If we do not pay taxes the quality of those activities deters. So for the government to maintain the beautiful national parks all around Australia, to make the transport system more efficient, to improve the healthcare system or even build better roads and infrastructures, paying taxes becomes essential. If we all pay our taxes, we all reap the benefits from such facilities.
- Economic Growth
The taxes that you pay help to foster the economic growth in your country. It can increase or decrease the value of your currency and it also helps promote growth within the economic sector. When this money circulates within the economy, it strengthens your country’s standing within the world and makes you appear stronger. It also helps support businesses, for example, it supported businesses during the pandemic. This is why the government tries to skyrocket their campaign within the tax season, so more and more citizens pay tax.
Every year we see new bills being passed, new laws coming into form which are made to help as citizens remain peaceful and live our lives with peace. All of this takes place because we pay our taxes. If there were no laws within the society, we would be living in a chaotic world. Hence, if we do not pay our taxes and withhold that money, we risk losing the ability to get proper laws and regulations for our country which would lead to a dangerous environment.
Tax payment is essential and needs to be taken seriously by every citizen within the country. This will help sustain your country, promote economic growth and help you grow as a country which is essential in these times.