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ElwoodBlues1, dodge and 2 Guests are viewing this topic.

Re: General Discussions

Reply #2610 –
Quote from: LP – on
Quote from: ElwoodBlues1 – on
Chalmers buying votes by allowing workers to claim $1,000 in deductions without any receipts needed. Labor just cant stop spending and adding to inflation and high debt levels.
True, but clinging onto that stuff when it's really just a drop in the ocean excuses the absence of any real opposition.

Economies work on 3 or even 4 orders of magnitude higher as the bare minimum.

A $1000 sounds great to those struggling, but it's not even covering the fuel rises for the average worker.

Let alone the shoeboxes that can now go to recycling.
Let’s go BIG !

Re: General Discussions

Reply #2611 –
The Albanese Government is drawing a line in the sand favouring younger Australians over older Australians, telling around 3 million over-65s that they will pay the same amount for private health insurance as younger Aussies.
The Howard-era government in 2004 introduced an extra incentive for older Australians to keep them in private health care and reduce the pressure on the public hospital system. These bonus rebates reduced the effective costs of private health insurance for this group by 30–40%.
Chalmers has admitted there is a risk older Aussies will bail on their Private health Insurance and go back to the public system forcing Health Insurers to raise their premiums even more and put the Public health system under more pressure but says he sees this as a way of evening up intergenerational wealth.
Its clear Labor believes many older voters favour the Coalition or One Nation now and thats their main focus on cost savings.
Of course he has already indicated the NDIS will take a hit next budget too so if you are old and disabled look out you might get turned into biscuits to feed the young if we have a famine anytime soon.....see Soylent Green the movie.

Re: General Discussions

Reply #2612 –
It's not a recent development, Paul Keating went through the public health system while still on the political front line!

FWIW, I think the 20 - 30 year old segment needs incentives to again take politics seriously, if not they all end up voting for Hanson and that will be even worse for Australia than Brexit or MAGA. Australia does not have the economic scale or inertia to withstand that sort of destructive politics.

All this media commentary about "Draining the swamp" is utter garbage, they post that because they are overpaid fatties who think the consequences of provoking turmoil won't affect them. They are a bunch of mini-Kyles who have opinions bigger than their ar5e!

But you know the media will be the front-line bleaters when the economic consequences of political turmoil hit their wallet.
"Extremists on either side will always meet in the Middle!"

Re: General Discussions

Reply #2613 –
ANZAC Day

I had the honour of being the marshall for the march that kicks off our local ANZAC Day commemoration.  I think it was a matter of not stepping back when volunteers were asked to step forward.

Anyway, the highlight of the march was having Jack, a 101 year old Second World War veteran marching with us.  Jack had family members there to support him but he waved them away and completed the march under his own steam.  Truly inspirational!

Lest we forget!
"Negative waves are not helpful. Try saying something righteous and hopeful instead." Oddball

Re: General Discussions

Reply #2614 –
Is it true the left are genuinely calling for that security guard to sacked, the guard who defended himself and the public from the smartar5e bottle throwing shoplifter?

Do the do-gooders really think the relative size matters when a youth could just as easily held a knife or machete? Do they expect the guards to find out the answer to that question before neutralising the situation?

One of the areas I visit have taken to employing athletic giants as checkout security. Male and female, Amazons, Africans, all well over 190cm, physically impressive, imposing, one of the girls looks like a 195cm African Brook Shields, and they are not afraid of apprehending kids and they are actually capable of apprehending the kids as opposed to the older style discount security. I got to talking to them and they tell me at first they only hired men, but the crooks stated sending teenage girls in the lift mechanise, so now they employ both male and female guards. They said the kids aren't too bright, often rolling up to the stores in oversized puffer jackets on 34°C days!

I hope the authorities look after the security for just doing their job, and yes I think they should be able to use reasonable force to defend themselves, protect the public and uphold the law.
"Extremists on either side will always meet in the Middle!"

Re: General Discussions

Reply #2615 –
Quote from: LP – on
Is it true the left are genuinely calling for that security guard to sacked, the guard who defended himself and the public from the smartar5e bottle throwing shoplifter?

Do the do-gooders really think the relative size matters when a youth could just as easily held a knife or machete? Do they expect the guards to find out the answer to that question before neutralising the situation?

One of the areas I visit have taken to employing athletic giants as checkout security. Male and female, Amazons, Africans, all well over 190cm, physically impressive, imposing, one of the girls looks like a 195cm African Brook Shields, and they are not afraid of apprehending kids and they are actually capable of apprehending the kids as opposed to the older style discount security. I got to talking to them and they tell me at first they only hired men, but the crooks stated sending teenage girls in the lift mechanise, so now they employ both male and female guards. They said the kids aren't too bright, often rolling up to the stores in oversized puffer jackets on 34°C days!

I hope the authorities look after the security for just doing their job, and yes I think they should be able to use reasonable force to defend themselves, protect the public and uphold the law.
Whatever happened to you f..k around you find out?

not to allow violence or anything, but you know, if a kid cops it from a security guard, once upon a time, my parents would turn to me, and ask what did you do?  If they deemed it unreasonable, I copped punishment from them on top of what they would have copped from the authorities/powers that be.

"everything you know is wrong"

Paul Hewson

Re: General Discussions

Reply #2616 –
Quote from: Thryleon – on
Whatever happened to you f..k around you find out?

not to allow violence or anything, but you know, if a kid cops it from a security guard, once upon a time, my parents would turn to me, and ask what did you do?  If they deemed it unreasonable, I copped punishment from them on top of what they would have copped from the authorities/powers that be.
As an aside, I have a friend who in an earlier life was a store manager for one of the big three. I'm not sure if it applies now, but he told me back then that security were not allowed to touch the kids who they thought were shoplifting, just observe and report. Not for the reasons you probably think, but because if the guard got injured in any way they could sue the employer, so the store wanted to avoid liability, a situation caused by lawyers.
"Extremists on either side will always meet in the Middle!"

Re: General Discussions

Reply #2617 –
Geez, a lot of oldies getting cut up by the taxes changes, I don't understand it.

I don't understand why where I live I'm surrounded by properties kept vacant by retirees / semi-retired who own them as investments or holiday homes and refuse to rent them out. I don't get why they can't be put to use at least as rentals. Few even seem to have kids who visit the place.

I don't get why they want them when all they seem to do is roll up on weekends and spend 2 days cleaning and gardening only to feck off Sunday night back to their city apartment. And if they don't roll up they are paying some local gardener or handyman to do it for them.

When they do arrive down for the weekend, they spend 48hrs moaning that the local region has no amenities, it's the council's fault apparently, because the shops, cafes and restaurants can't survive on their weekly 48 hrs of patronage. Some of them don't even bring the patronage, they roll up with supplies brought with them from the weekday local favourites, and they still complain.

They complain about council plans to bring in parking fees, abhorrent, apparently owning the property means they have the right to park the Tesla freely wherever they like, after driving down the freeway without paying a cent towards the upkeep of the roads. Don't mention the fact that when they return they probably park in a spot leased of Wilson Parking, which the probably sub-let at weekends to the footy or cricket crowd.

All of this to save some tax, in fact anything to save some tax it seems, at least they'll die wealthy though!

It's a financial win but an existence loss, they might as well sell the property and get back the 28% of their time that they have lost, 28% of your life seems a cheap buy at the tax rate!
"Extremists on either side will always meet in the Middle!"

Re: General Discussions

Reply #2618 –
Quote from: LP – on
Geez, a lot of oldies getting cut up by the taxes changes, I don't understand it.

I don't understand why where I live I'm surrounded by properties kept vacant by retirees / semi-retired who own them as investments or holiday homes and refuse to rent them out. I don't get why they can't be put to use at least as rentals. Few even seem to have kids who visit the place.

I don't get why they want them when all they seem to do is roll up on weekends and spend 2 days cleaning and gardening only to feck off Sunday night back to their city apartment. And if they don't roll up they are paying some local gardener or handyman to do it for them.

When they do arrive down for the weekend, they spend 48hrs moaning that the local region has no amenities, it's the council's fault apparently, because the shops, cafes and restaurants can't survive on their weekly 48 hrs of patronage. Some of them don't even bring the patronage, they roll up with supplies brought with them from the weekday local favourites, and they still complain.

They complain about council plans to bring in parking fees, abhorrent, apparently owning the property means they have the right to park the Tesla freely wherever they like, after driving down the freeway without paying a cent towards the upkeep of the roads. Don't mention the fact that when they return they probably park in a spot leased of Wilson Parking, which the probably sub-let at weekends to the footy or cricket crowd.

All of this to save some tax, in fact anything to save some tax it seems, at least they'll die wealthy though!

It's a financial win but an existence loss, they might as well sell the property and get back the 28% of their time that they have lost, 28% of your life seems a cheap buy at the tax rate!
The oldies are upset because that political snake Albo lied pre election, has no interest in intergenerational wealth but is making a cash grab and giving it out to young labor voters/ incoming migrants to shore up the next election result. Cutting the health insurance rebate for oldies who use and need the system more will only have them ditch private insurance and burden the public system. The investment money and proceeds from trusts he wants to tax will all disappear out of the country or into other tax avoidance schemes and middle Australia will disappear as the top 1% of wealth earners continue to pay no tax...
If you are 60 plus, disabled on the NDIS, own your own home then Albo wants you under the next bus...

Re: General Discussions

Reply #2619 –
Vote One Nation!!!
2012 HAPPENED!!!!!!!

Re: General Discussions

Reply #2621 –
Quote from: ElwoodBlues1 – on
Quote from: LP – on
Geez, a lot of oldies getting cut up by the taxes changes, I don't understand it.

I don't understand why where I live I'm surrounded by properties kept vacant by retirees / semi-retired who own them as investments or holiday homes and refuse to rent them out. I don't get why they can't be put to use at least as rentals. Few even seem to have kids who visit the place.

I don't get why they want them when all they seem to do is roll up on weekends and spend 2 days cleaning and gardening only to feck off Sunday night back to their city apartment. And if they don't roll up they are paying some local gardener or handyman to do it for them.

When they do arrive down for the weekend, they spend 48hrs moaning that the local region has no amenities, it's the council's fault apparently, because the shops, cafes and restaurants can't survive on their weekly 48 hrs of patronage. Some of them don't even bring the patronage, they roll up with supplies brought with them from the weekday local favourites, and they still complain.

They complain about council plans to bring in parking fees, abhorrent, apparently owning the property means they have the right to park the Tesla freely wherever they like, after driving down the freeway without paying a cent towards the upkeep of the roads. Don't mention the fact that when they return they probably park in a spot leased of Wilson Parking, which the probably sub-let at weekends to the footy or cricket crowd.

All of this to save some tax, in fact anything to save some tax it seems, at least they'll die wealthy though!

It's a financial win but an existence loss, they might as well sell the property and get back the 28% of their time that they have lost, 28% of your life seems a cheap buy at the tax rate!
The oldies are upset because that political snake Albo lied pre election, has no interest in intergenerational wealth but is making a cash grab and giving it out to young labor voters/ incoming migrants to shore up the next election result. Cutting the health insurance rebate for oldies who use and need the system more will only have them ditch private insurance and burden the public system. The investment money and proceeds from trusts he wants to tax will all disappear out of the country or into other tax avoidance schemes and middle Australia will disappear as the top 1% of wealth earners continue to pay no tax...
If you are 60 plus, disabled on the NDIS, own your own home then Albo wants you under the next bus...

You know a lot of the people around me, and younger bought where they could afford, and decided to rent where they wanted to live in their 20's.

Does this contribute to rising rents?  Maybe, but it also allows them to claim a tax deduction in the bottom end of their earning years (when they first join the work force).

Lets not pretend they are paying oodles of tax to claim back either.  Most starter wages for these professionals, are 60k, and they dont jump significantly in the first 5 years.  So if they pay 10k in tax, and then use interest on an investment property to offset that whilst perhaps renting at home, they get probably a net benefit of all of 3k a year over anyone else.

Meanwhile, thats one less landlord renting a property out at the bottom end of the market, which usually meant, older, and more repairs required too.  You cant claim back, what you dont pay. 

Its a government cash grab from this end.  The ones who most need those benefits.  They arent buying and building a new build house and land either, they are buying older units.

You still cant pay tax on a paper loss.
"everything you know is wrong"

Paul Hewson

Re: General Discussions

Reply #2623 –
Quote from: ElwoodBlues1 – on
Quote from: madbluboy – on
Vote One Nation!!!
Any other Alternatives?
Greens
2021-Pi$$ or get off the pot
2022- Real Deal or more of the same? 0.6%
2023- "Raise the Standard" - M. Voss Another year wasted Bar Set
2024-Back to the drawing boardNo excuses, its time
2025-Carlton can win the 2025 AFL Premiership
 

Re: General Discussions

Reply #2624 –
My understanding is that there is a hybrid method of grandfathering which will be a little complicated, with assets needing to have a valuation on or around 1 July 2027.

Current CGT is 50% discount then taxed at marginal rates. Using a capital gain of $100k on a property:

if you are in the top bracket (47%) - discount $50k, tax @ 47% = 23.5k
If you are in the 35% bracket - discount$50k, tax @35% = 17.5k

These taxed gains are offset by deductions already claimed for negative gearing.

With flat rate of 30% less CPI - it gets more complicated to work out, but if we say bought for $500k, sold for $600k, CPI was a constant 3.5% for five years of holding the asset:

Cost Base goes to $593k - which gives a $7k Gain taxed @ 30%?

Taxing discretionary trust distributions at a flat 30% is also interesting.  There are many who use it as pure tax minimisation/rort because they can (eg child is 19 and is given a distribution of up to the 35% bracket, which decreases the distributions required to the highest earning trustees, often in the family - pure rort), but also understand that some are used in a genuine manner to distribute to those that need it.  It may affect small business that genuinely operate in a way that family don't draw a wage, but rely on the distributions instead.

What is the solution to housing affordability proposed by those that are against this? All I have heard is reduce immigration (which the wider ranging effects are fairly complex)

In terms of Private Health rebates for seniors, I'm not really sure about this.  While rules have changed and just using my parents as an example - the last few years of dad's work before retiring, he could package all his salary to super and then draw a tax free pension.  He hasn't paid any income tax or medicare since he was about 62 - over 20 years ago.  I can see the impact of removing the rebate, but don't really understand how to feel about it...

There needs to be change to NDIS - it has blown out, with claims for frivolous, tenuous things to inflated costs for specialists - it has unfortunately been subject to rorts and 'mission drift'.  Needs to be reigned back in.

Alternatives?  There are none, unfortunately.  We desperately need a viable alternative.