Interesting article by Sinclair Davidson on imputed taxation. He points out the absurdity of this, using some admittedly ludicrous examples, including imputed taxation on conjugal rights. ThenĀ  –

If you use this logic, one of the biggest tax rorts is library books. Every time you borrow a book from the library you avoid paying GST on the book.

On second thoughts, perhaps Davidson’s improbable examples aren’t quite so improbable, given the fact that authors can already get royalties from their books held in libraries through the Public Lending Right program. Just a little extension of this …