There is a buzz here in Singapore ahead of Budget Day on Friday. A robust economic recovery but with concerns too about inflation and the cost of living... all this in a likely election year must mean goodies will be dished out on Friday, so the talk goes. No one expects taxes to go up.
But, three years ago, one wag in Australia, looking at how Canberra might want to urgently raise more revenue for the public coffers, made this tongue in cheek suggestion:
The only thing that the Goverment has not taxed yet is the penis.
It is about time we do this, due to the fact that 69% of the time it is hanging around
unemployed, 10% of the time it is hard up, 20% of the time it is
pissed off. It is only really useful 1% of the time.
Also, it has two dependents and they are both nuts!
However, effective July 1st, 2008, the penis will now be taxed
according to size:
The brackets are as follows:
10 - 12" Luxury Tax $300.00
8 - 10" Pole Tax $250.00
5 - 8" Privilege Tax $150.00
3 - 5" Nuisance Tax $30.00
Males exceeding 12" must file for capital gains. On the other hand, anyone under 4" is eligible for a tax refund.
PLEASE DO NOT ASK FOR AN EXTENSION.
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