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That sums up my view at the moment.
Australian Federal Election - 2019
- Thread starter Wysiwyg
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- 2019 federal election
That sums up my view at the moment.
wayneL
VIVA LA LIBERTAD, CARAJO!
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Cheers
Big decision is which mob will be effective in blocking the most toxic aspects of Labor's agenda, while giving fair passage to the positive. Hmmmm
wayneL
VIVA LA LIBERTAD, CARAJO!
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Seems to be all over Red Rover
Senate is the focus
Senate is the focus
PZ99
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How on earth can they call that?
As for the senate: JLN for me if they're in Lindsay, I haven't looked.
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PZ99
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I C - nothing like a bit of satire after a few beers
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Excellent presentation of the rebranding of Scott Morrison into a vaguely electable PM.
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Neither side instills any confidence for me, Libs aren't really offering a vision and labor's tax hammer is too ridiculous for words.
I wish there was another option, somewhere in the middle, which put forward sensible holistic tax reform and a realistic well thought out renewable energy plan.
I wish there was another option, somewhere in the middle, which put forward sensible holistic tax reform and a realistic well thought out renewable energy plan.
Knobby22
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No it's true.
I put on $5 two days ago because I thought it was game over and got paid out today $5.75.
Probably too many Labor bets coming in so they thought better to end it.
PZ99
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^ I'm in the wrong game with this day trading bizo 
wayneL
VIVA LA LIBERTAD, CARAJO!
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I've had a small flutter on a minority gumint on Betfair at 3/1.
Probably done my two bob, but it has tightened in to $3.90
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Minority for who ?
wayneL
VIVA LA LIBERTAD, CARAJO!
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Either, just has to be a minority govt... IOW it is a bet against a majority govt of any stripe.
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Wow! That surprises me. I just checked on the Sports Bet website and it still seems to be offering odds of $1.18 for Labour to win.
In theory one can put down a bet and then get paid out a winning amount ? Surely not..
https://www.sportsbet.com.au/betting/politics
Logique
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Marry in haste, repent at leisure, what can I say.. At least, mercifully, the Palmer ads have stopped
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... A Shorten government will steal billions of tax refunds from older Australians, most of limited means. Their crime? They have organised their affairs in an attempt not to be burdens on the taxpayer.... Professor David Flint
Well there is an absolute and total lie. A clear investigation of the change to franking dividends proves that the overwhelming dollars retained by the government will come from a very small very wealthy group of people who have certainly arranged their tax affairs to take advantage of this lurk.
No doubt Professor Flint will be one of these poor suffering devils.
It’s hard to tell who benefits…
As part of the move to make super income tax free, superannuants were no longer required to declare their superannuation income to the Tax Office, making it hard to tell how well off those receiving imputation cheques really were.
But the Tax Office has released to researchers a series of confidentialised files of individual income tax returns that provide clues.
The 2% sample of all taxpayers in 2015-2016 contains 269,639 individual records. I’ve focused on those with taxable incomes of less than A$87,000 (222,083 records) because they are the ones likely to receive cash refunds. I’ve excluded those who receive any government pension or allowance as they are unaffected by Labor’s policy, leaving 190,146 records.
The best measure of these people’s wealth in the data is their total superannuation account balances which the Tax Office collects from member contribution statements.
...although it can be done
Calculating refunds using tax bands and rules, I find that of the people with taxable incomes less than A$87,000 and with no pension income, 81% have no franking credits and receive no refund cheques. Their average taxable income is just below A$40,000 and their average superannuation balance is just below A$67,000.
A further 15% receive credits of less than A$1,300. Their average refund is A$102. Their average taxable income is also below A$40,000 and their average superannuation balance is almost A$179,000.
Of the 3% of individuals with credits between A$1,300 and A$8,000, the average cash refund is A$1,593. The average taxable income for the group is just over A$37,000 and the average superannuation balance is about A$363,000.
Of the 0.8% of individuals with credits between A$8,000 and A$20,000, the average cash refund is A$4,043. The average taxable income for the group is just over A$53,000 and the average superannuation balance is almost A$455,000.
Elizabeth Savage/ATO 2015-16 unit file
Of the 0.1% of individuals with credits between A$20,000 and A$40,000, the average cash refund is A$8,743. The average taxable income for the group is just over A$68,000 and the average superannuation balance is just under A$721,000.
For the top group who have credits in excess of A$40,000, the average cash refund is almost A$63,000, over A$1,200 a week. The average taxable income for the group is the lowest of all groups at A$17,735, falling below the lowest income tax threshold. Almost half (45%) have no taxable income. Their average superannuation balance is A$1,344,782.
It’s the wealthiest who benefit the most
The results tell a clear story.
The largest average benefits are paid to the wealthiest group.
Their wealth measured by superannuation account balance is 20 times that of the group that receives no cash refund. Their superannuation wealth is 76 times their taxable income.
It is misleading it is to use their taxable income as a measure of their well-being.
https://theconversation.com/its-har...ut-it-is-possible-and-it-isnt-the-poor-116370
Well there is an absolute and total lie. A clear investigation of the change to franking dividends proves that the overwhelming dollars retained by the government will come from a very small very wealthy group of people who have certainly arranged their tax affairs to take advantage of this lurk.
No doubt Professor Flint will be one of these poor suffering devils.
It’s hard to tell who benefits…
As part of the move to make super income tax free, superannuants were no longer required to declare their superannuation income to the Tax Office, making it hard to tell how well off those receiving imputation cheques really were.
But the Tax Office has released to researchers a series of confidentialised files of individual income tax returns that provide clues.
The 2% sample of all taxpayers in 2015-2016 contains 269,639 individual records. I’ve focused on those with taxable incomes of less than A$87,000 (222,083 records) because they are the ones likely to receive cash refunds. I’ve excluded those who receive any government pension or allowance as they are unaffected by Labor’s policy, leaving 190,146 records.
The best measure of these people’s wealth in the data is their total superannuation account balances which the Tax Office collects from member contribution statements.
...although it can be done
Calculating refunds using tax bands and rules, I find that of the people with taxable incomes less than A$87,000 and with no pension income, 81% have no franking credits and receive no refund cheques. Their average taxable income is just below A$40,000 and their average superannuation balance is just below A$67,000.
A further 15% receive credits of less than A$1,300. Their average refund is A$102. Their average taxable income is also below A$40,000 and their average superannuation balance is almost A$179,000.
Of the 3% of individuals with credits between A$1,300 and A$8,000, the average cash refund is A$1,593. The average taxable income for the group is just over A$37,000 and the average superannuation balance is about A$363,000.
Of the 0.8% of individuals with credits between A$8,000 and A$20,000, the average cash refund is A$4,043. The average taxable income for the group is just over A$53,000 and the average superannuation balance is almost A$455,000.
Elizabeth Savage/ATO 2015-16 unit file
Of the 0.1% of individuals with credits between A$20,000 and A$40,000, the average cash refund is A$8,743. The average taxable income for the group is just over A$68,000 and the average superannuation balance is just under A$721,000.
For the top group who have credits in excess of A$40,000, the average cash refund is almost A$63,000, over A$1,200 a week. The average taxable income for the group is the lowest of all groups at A$17,735, falling below the lowest income tax threshold. Almost half (45%) have no taxable income. Their average superannuation balance is A$1,344,782.
It’s the wealthiest who benefit the most
The results tell a clear story.
The largest average benefits are paid to the wealthiest group.
Their wealth measured by superannuation account balance is 20 times that of the group that receives no cash refund. Their superannuation wealth is 76 times their taxable income.
It is misleading it is to use their taxable income as a measure of their well-being.
https://theconversation.com/its-har...ut-it-is-possible-and-it-isnt-the-poor-116370
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Actually Bas, Bill M on here is one of those poor suffering devils, as he already explained earlier.
But I guess, as long as there isn't too many in Bill M's position, who really gives a $hit?
Just shows how Australia has become an "I'm alright Jack, stuff you society". IMO
The ones who are adversely affected are just collateral damage, as long as it gets the rich ones, that justifies it.
Oh my, how compassion, seems to be so subjective.
But I guess, as long as there isn't too many in Bill M's position, who really gives a $hit?
Just shows how Australia has become an "I'm alright Jack, stuff you society". IMO
The ones who are adversely affected are just collateral damage, as long as it gets the rich ones, that justifies it.
Oh my, how compassion, seems to be so subjective.
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Sadly this is very true. It has happened under governments of both persuasions and nothing I've seen from the more notable minor parties would do anything about it either.
On another matter, I hear that Bob Hawke was right when he said that he wouldn't be around to see the outcome of the election. He has passed away according to the news.
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On another matter, I hear that Bob Hawke was right when he said that he wouldn't be around to see the outcome of the election. He has passed away according to the news.
One of the great PM's. A shame he couldn't hang around for a couple more days.
RIP Hawkey.