Federal Budget 2009 highlights

[kincella]

Thought it may be appropriate to get a thread started so we can all comment on what changes are made and how it will affect each of us....regardless of all the so called leaked information....there is usually some really bad stuff in there that has not been leaked...
cheers

 

[kincella]

PS I rarely watch the speech on TV...I prefer to read the details myself..from the news or direct from that office....and tonight it will save me from hearing the same words constantly repeated as if we are all stupid or deaf or both...., and I will not have to listen to the blame game...blaming the liberals for everything......at least Costello was straight and to the point....and Tanners head nodding turns me off

 

[robots]

hello,

Pensioners getting $32.49 per week extra from September

thankyou
associate professor robots

 

[moXJO]

hello,

Pensioners getting $32.49 per week extra from September

thankyou
associate professor robots

I thought I heard they are taking the $750 away at the start of the year. Something else about additional earnings having a lower cut off rate.

Its the devil in the detail that you need to wait for.

 

[investorpaul]

What a non event!!!

Not too much pain, that budget is all about ensuring political survival.

The 4.5% REAL GDP growth forecasts for the year after next are rediculous, way too optimistic.

Keeping the FHB grant for another 3 months, before tapering it off is also daft and just aimed at buying votes.

 

[kincella]

what the....so far....seen the highlights only ....unbelievable....whats changed really....???? looks like a very friendly voter budget.....the climax...
sorry but I am dissapointed....guess I will have to wait until tomorrow to get the full reports
what negative gearing not removed....200,000 jobs provided ...where ?
hehehehe.......scaredy cats
ps I really like little wombats, so cute and so much damage...but just watch a baby one having its tummy rubbed...brilliant

 

[bluelabel]

I wouldn't have titled the thread highlights Kincella. I agree with investorpaul. A bit of a non event. There is not much to get excited about unless you are a pensioner or on a road construction crew.

And whats the use in raising the pension age to 67 in 2023?? where did they pull this year from? Going by the sounds some of the opposition made when announced it come from some where uncomfortable...

Another thing that stood out is the revenue write down of $210bn. Dang thats a lot of moula to not be getting. It is a good little deflector from the fact that weare going to be paying through the nose for this budget for many years to come. The budget may be back in the black by 2013, but the big question that hasn't been answered is when will this debt be paid off?

:bier:

blue

 

[bluelabel]

looks like a very friendly voter budget.....

You got it in one Kincella. Kevin and Wayne are playing to the masses, exactly like throwing $900 to most people. Buying votes. I feel it is a very conservitative budget.

Joe Hockey is on the ABC now spruiking reckless spending. I agree, the $900 should have been pocketed and spent in the budget.

:bier:

blue

 

[bluelabel]

Link to Wayne Swans Speech here

:bier:

blue

 

[Bill M]

And whats the use in raising the pension age to 67 in 2023?? where did they pull this year from? Going by the sounds some of the opposition made when announced it come from some where uncomfortable...

They pulled that year because anyone who will be pension age in the next couple years or so would be so much against it. Imagine if they made this law next year, the people who were banking on their pension would vote against them. What a load of cr@p, the Government just want people to die on the job, lousy b@stards.

 

[Bill M]

hello,

Pensioners getting $32.49 per week extra from September

thankyou
associate professor robots

And about time our oldies got a rise after all the work they put in during their lives, I applaud this increase.

 

[kincella]

Blue...I was geared up by the media and spruiking to expect something...anything...hence the thread title....
sorry the actual reality......its so boring....
and the dog agrees......she think winners are grinners...or vice versa....grinners are winners

 

[Bill M]

How it affects me:

1. Now we MUST wait until 67 to get a Pension

2. Superannuation co contribution has dropped to $1,000 down from $1,500

Nothing else directly affects us.

 

[-Bevo-]

The 4.5% REAL GDP growth forecasts for the year after next are rediculous, way too optimistic.

Yeah I nearly choked on my coffee when I heard that one.

 

[robots]

And about time our oldies got a rise after all the work they put in during their lives, I applaud this increase.

hello,

they should be getting 3 x $32.49 i reckon Bill M for the reasons you highlighted

that would put them up around $350/wk/person, getting there

thankyou
associate professor robots

 

[carmen]

Explains the fall in BHP & RIO the past 2 days despite climbs amongst mining juniors. Is there a thread that lists mining companies with deposits/permits to explore areas to have boosted infrastructure? Only to add speculation to the fire.

 

[Judd]

Now this is very sneaky. Tax Review recommendations released today.

http://taxreview.treasury.gov.au/Content/Content.aspx?doc=html/media_releases/05.htm

Tax Review report on the retirement income system

The Government has today released the report prepared by the Australia’s Future Tax System Review Panel into the retirement income system. The report presents the Panel’s broad strategic views on the retirement income system.


The Panel recommends:

• maintaining the superannuation guarantee at 9 per cent, not extending the superannuation guarantee to the self employed and retaining the $450 per month threshold;
  
• gradually increasing the Age Pension age to 67 years;
  
• gradually aligning the age at which people can access their superannuation savings (the preservation age) with the increased Age Pension age;
  
• improving the fairness and coherence of the pension means tests, possibly through a single test, and improve incentives to work beyond retirement age;
  
• reducing the complexities resulting from the interactions between the tax-transfer system and the aged care sector;
  
• maintaining tax assistance to superannuation but improving the fairness of concessions for contributions, including by broadening access to them, and considering whether the current cap on concessions is appropriate;
  
• improving the ability of people to use their superannuation to manage longevity risk; and
  
• improving the awareness and engagement of individuals with the retirement income system.

 

[MrBurns]

Extend the FHBG boost for another 3 months, watch the prices bubble further out of control, this Govt is toxic.

 

[bluelabel]

Extend the FHBG boost for another 3 months, watch the prices bubble further out of control, this Govt is toxic.

The boost has been reduced though to $3500. Total FHOG will be $10500 commencing in september. Although i would have liked to see the boost abolished just to watch the market fizzle. Now that would have been a great budget night...

:bier:

blue

 

[Julia]

As expected, we had all the hype about what a tough Budget it would be, filling the electorate with fear, then it turns out to be (as already observed) pretty much a non event, so we are now supposed to all breathe a collective sigh of relief and feel oh so grateful to our benevolent rulers.

Chris Richardson of Access Economics described it as a "powder puff budget".

So again we have the simple reality of pure politics - the hype and spin continues, but the bottom line is that they will always protect their re-election chances.

There should be a basic lecture in high schools which informs students never to labour under the naive belief that governments of any persuasion function with the benefit of the country in mind.