Australian Politics General...

[sptrawler]

Maybe 'reforming' the energy & resources sector would be a start ?

- effective reservations policy
- better than symbolic taxes on coal & gas
- more large scale hydro storage
- government takeover of electricity distributors that are ripping consumers off.

etc

Absolutely, those are the sort of issues they will be judged on next election, not on the voice which sounds nice but doesn't do much.

 

[PZ99]

Multi-employer bargaining is my favourite.

Also ICAC, 43% less emissions target, seniors’ health card threshold increase...

Super reform is welcome but capping at $3m is a bit low...

Disappointed they haven't ditched neg gearing and increased those Sunday penalty rates.

I wouldn't say it's been a good Govt yet, but the alternatives are hilarious at the moment

 

[mullokintyre]

Albo shows he is a true politician by being a little loose with his facts in suggesting he was the first PM to attend the Mardi Gras.

Its also unfortunate that another PM, none other than the grey ghost himself, Malcolm Turnbull, had preceded Albo by a few years in his attendance at a Mardi Gras.
From The Guardian

Malcolm Turnbull will attend Saturday’s Gay and Lesbian Mardi Gras parade in Sydney, making him the first sitting prime minister to do so.

However, according to reports, Turnbull will stop short of marching in the LGBTI pride parade. The opposition leader, Bill Shorten, will march in the parade, making him the first federal leader of one of the two major parties to do so.
https://www.theguardian.com/comment...s-our-commitment-to-trans-rights-and-equality
In previous years Turnbull has attended the parade, conducted on Oxford Street in his eastern Sydney electorate of Wentworth, but this will be his first attendance as prime minister.

His decision to attend comes after reports senior government MPs warned him it would be a “dangerous” thing to do.

Mick

 

[PZ99]

Albo shows he is a true politician by being a little loose with his facts in suggesting he was the first PM to attend the Mardi Gras.



View attachment 153695
Its also unfortunate that another PM, none other than the grey ghost himself, Malcolm Turnbull, had preceded Albo by a few years in his attendance at a Mardi Gras.
From The Guardian


View attachment 153696

Mick

Where does Albo say he was the first to attend ?

 

[mullokintyre]

Where does Albo say he was the first to attend ?

Albo is being interviewd and says he has been coming to the Merdi Gras for 38 years.
The captioning on the video says " Its unfortunate I am the first" , which comes just after the interviewer says its the first time as Prime Minister that he has attended.
If you want to watch the full video , its here.
Mick

 

[PZ99]

Albo is being interviewd and says he has been coming to the Merdi Gras for 38 years.
The captioning on the video says " Its unfortunate I am the first" , which comes just after the interviewer says its the first time as Prime Minister that he has attended.
If you want to watch the full video , its here.
Mick

Yeah... but I think you'll find he's saying he's the first to actually take part in the walk. Turnbull didn't.

 

[mullokintyre]

Yeah... but I think you'll find he's saying he's the first to actually take part in the walk. Turnbull didn't.

Thats not how I interpreted it, he said it was his 35th mardi gras, not the 35th time he has walked.
But I guess we interpret things according to our own prejudices.
mick

 

[PZ99]

Thats not how I interpreted it, he said it was his 35th mardi gras, not the 35th time he has walked.
But I guess we interpret things according to our own prejudices.
mick

Ever tried interpreting things without prejudices ?

 

[mullokintyre]

Ever tried interpreting things without prejudices ?

Not sure, perhaps you could give me lessons.
Mick

 

[wayneL]

Irrespective of which was first, both are disingenuous virtue signalling grubs. A pox on their houses.

 

[PZ99]

Not sure, perhaps you could give me lessons.
Mick

It's actually very easy and you have already laid down the basics of it in post #2135

 

[moXJO]

Yeah... but I think you'll find he's saying he's the first to actually take part in the walk. Turnbull didn't.

If there's confusion round it then it's probably not that clear. The media were reporting it as "first pm to attend" until someone posted on twitter of Tbull.
It then turned into the first pm to be in the parade. However that's also not true. John Howard beat him by decades.

 

[mullokintyre]

It's actually very easy and you have already laid down the basics of it in post #2135

At least I recognise I may have some bias,
Mick

 

[wayneL]

Broken record here, but I am enjoying the ignore function from both sides. ?

 

[sptrawler]

This article explains the situation very well, super caps is small fish. I've cut out some other issues, to keep it short.

A $50b reason to target super concessions, but could property tax breaks be next?

Treasurer Jim Chalmers has set the scene for a battle on superannuation tax concessions. It remains to be seen whether the government will decide to tackle areas that are costing the budget heavily, such as property tax breaks, writes Nassim Khadem.

www.abc.net.au

Just before announcing a crackdown on super tax concessions for the wealthy, Treasurer Jim Chalmers set the scene for the battle no doubt to come.

New costings from Treasury released on Tuesday showed superannuation tax breaks cost the federal budget about $50 billion a year and largely flow to high-income earners.

Dr Chalmers said the 10 biggest tax expenditures were worth more than $150 billion annually — around one-third of the top 10 is made up of superannuation tax discounts.

"The cost of these concessions is projected to exceed the cost of the Age Pension by 2050," Mr Chalmers said, repeating a line he often uses as to why these tax breaks should be scaled back.

Likewise, tax breaks on super earnings also advantage wealthier individuals and tend to benefit men more than women.

These tax breaks, which are expected to cost $22.9 billion in 2022/23, result in the top 10 per cent of income earners attracting 39 per cent of the benefit.

Minutes after the Treasury expenditure statement was publicly released, Mr Chalmers announced that people with super balances above $3 million would get less generous concessions.
So why is the federal government singling out super above all other tax breaks?

Treasury's data shows housing tax breaks cost more in forgone revenue than superannuation tax concessions do.

Various capital gains tax (CGT) exemptions cost almost $72 billion annually, including $48 billion on CGT exemptions for the family home, and another $23.7 billion in revenue foregone on CGT discounts for individuals, such as property investors and for trusts.

It is estimated that around 2.4 million people claimed $51.3 billion of rental deductions in 2019–20, resulting in a total tax reduction of $18.6 billion.

Of the total number of people with rental deductions, almost half (1.3 million) had a rental loss, known as negative gearing, which added up to total rental losses of $10.2 billion. These rental losses provided a tax benefit of around $3.6 billion in 2019–20.

Work-related expense deductions are also a big area of forgone revenue. Treasury says about 9.8 million individuals claimed $22.6 billion of work-related expense deductions in 2019–20, resulting in a total tax reduction of $8.3 billion.

And the GST exemption on food is expected to cost more than $8 billion in forgone revenue.

Dr Richardson says, while housing tax breaks cost more in foregone revenue, the political cost of scaling back negative gearing and CGT discounts for the wealthy may be greater.

 

[moXJO]

This article explains the situation very well, super caps is small fish. I've cut out some other issues, to keep it short.

A $50b reason to target super concessions, but could property tax breaks be next?

Treasurer Jim Chalmers has set the scene for a battle on superannuation tax concessions. It remains to be seen whether the government will decide to tackle areas that are costing the budget heavily, such as property tax breaks, writes Nassim Khadem.

www.abc.net.au

Just before announcing a crackdown on super tax concessions for the wealthy, Treasurer Jim Chalmers set the scene for the battle no doubt to come.

New costings from Treasury released on Tuesday showed superannuation tax breaks cost the federal budget about $50 billion a year and largely flow to high-income earners.

Dr Chalmers said the 10 biggest tax expenditures were worth more than $150 billion annually — around one-third of the top 10 is made up of superannuation tax discounts.

"The cost of these concessions is projected to exceed the cost of the Age Pension by 2050," Mr Chalmers said, repeating a line he often uses as to why these tax breaks should be scaled back.

Likewise, tax breaks on super earnings also advantage wealthier individuals and tend to benefit men more than women.

These tax breaks, which are expected to cost $22.9 billion in 2022/23, result in the top 10 per cent of income earners attracting 39 per cent of the benefit.

Minutes after the Treasury expenditure statement was publicly released, Mr Chalmers announced that people with super balances above $3 million would get less generous concessions.
So why is the federal government singling out super above all other tax breaks?

Treasury's data shows housing tax breaks cost more in forgone revenue than superannuation tax concessions do.

Various capital gains tax (CGT) exemptions cost almost $72 billion annually, including $48 billion on CGT exemptions for the family home, and another $23.7 billion in revenue foregone on CGT discounts for individuals, such as property investors and for trusts.

It is estimated that around 2.4 million people claimed $51.3 billion of rental deductions in 2019–20, resulting in a total tax reduction of $18.6 billion.

Of the total number of people with rental deductions, almost half (1.3 million) had a rental loss, known as negative gearing, which added up to total rental losses of $10.2 billion. These rental losses provided a tax benefit of around $3.6 billion in 2019–20.

Work-related expense deductions are also a big area of forgone revenue. Treasury says about 9.8 million individuals claimed $22.6 billion of work-related expense deductions in 2019–20, resulting in a total tax reduction of $8.3 billion.

And the GST exemption on food is expected to cost more than $8 billion in forgone revenue.

Dr Richardson says, while housing tax breaks cost more in foregone revenue, the political cost of scaling back negative gearing and CGT discounts for the wealthy may be greater.

Here we go.

 

[sptrawler]

Here we go.

Let's see, those tax breaks are where the main drain is.
Let's see how serious they are about hitting the really wealthy, the ones with the McMansion overlooking Sydney harbour, driving the AMG Merc and pulling a full Govt pension.
Lets get properties over $3m assessable for the pension, why have caps on what someone can have in super(which I agree with).
When they can just transfer a lot into a zillion dollar McMansion, as a PPR and Bob's your uncle, just wealth transfer from 15% super tax, to 0%.CGT on PPR.
Will Albo plug that hole? Or is it just a populist vote catcher?

What did Olivia sing, lets get serious, serious.

 

[PZ99]

If there's confusion round it then it's probably not that clear. The media were reporting it as "first pm to attend" until someone posted on twitter of Tbull.
It then turned into the first pm to be in the parade. However that's also not true. John Howard beat him by decades.
View attachment 153720

Looks like Howard's Holley carb

 

[moXJO]

Let's see, those tax breaks are where the main drain is.
Let's see how serious they are about hitting the really wealthy, the ones with the McMansion overlooking Sydney harbour, driving the AMG Merc and pulling a full Govt pension.
Lets get properties over $3m assessable for the pension, why have caps on what someone can have in super(which I agree with).
When they can just transfer a lot into a zillion dollar McMansion, as a PPR and Bob's your uncle, just wealth transfer from 15% super tax, to 0%.CGT on PPR.
Will Albo plug that hole? Or is it just a populist vote catcher?

What did Olivia sing, lets get serious, serious.

Or it spills over to the middle class

 

[sptrawler]

Or it spills over to the middle class

It always does, just like bracket creep.