I support that too.
That way I can spend it all before I kick the bucket and say cheerio to the government.
We all know the ATO would have a hit squad put together in a matter of minutes to help you take a dirt nap
Inheritance Tax/Death Duties
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We all know the ATO would have a hit squad put together in a matter of minutes to help you take a dirt nap
skc
Goldmember
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We all know the ATO would have a hit squad put together in a matter of minutes to help you take a dirt nap
LOL... The word tax audit takes a new meaning. It will become a medical check up to see when someone will die...
A tax on death? Love it!
You pay tax your whole life - keep money that is NOT SUBJECT TO TAX - pass away - give it to somebody and they cop tax on it.
What a commie society we live in. I'll be sure to don my red shirt and hit the fields.
If they are going to tax inheritance why not tax our whole pay packet's - then disperse it amongst the people how they decide.
Yawn.
You pay tax your whole life - keep money that is NOT SUBJECT TO TAX - pass away - give it to somebody and they cop tax on it.
What a commie society we live in. I'll be sure to don my red shirt and hit the fields.
If they are going to tax inheritance why not tax our whole pay packet's - then disperse it amongst the people how they decide.
Yawn.
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LOL - that's probably already on the agenda.
Julia
In Memoriam
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Indeed, apparently it already is in the UK, where it has been suggested people will no longer be paid then have to cough up tax from that payment.
No, good people, your earnings will now be paid direct to the government, who will take its tax share, and dole out the remainder to you.
Whacko! What more could you want? No need to even lodge a tax return.
How good is that, huh!
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Correct me if I am wrong here (and no doubt many of you will) BUT if I have worked hard all my life an PAID my taxes and come to an untimely death and I leave an inheritance to my children then WHY OH WHY should the government TAKE more money from my estate?
Who voted these imbeciles in ? C'mon hands up ..... Oooooh you voted Greens did you? Get what you deserve then.
Who voted these imbeciles in ? C'mon hands up ..... Oooooh you voted Greens did you? Get what you deserve then.
Attachments
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But then who would want to work if not enough comes back?
Suppose the next thing is to enslave all the people...
Maybe some need to study history to see what really happens in such oppressed societies.
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Death duties are wrong and immoral.
If people who build wealth give during their life that is good. It is also their choice.
If people who build wealth give during their life that is good. It is also their choice.
Looking at this 'prima facie' on raw statistics who would pay the vast bulk of an inheritance tax at a flat percentage? If you go to Wealth distribution within australia, ten year old Catholic University stats, 65% would be payed by the top 20% of the population and 87% by the top 40%.
So the richer I am the harder I'd be working to make sure there is no democratic appraisal of this type of concept.
So the richer I am the harder I'd be working to make sure there is no democratic appraisal of this type of concept.
Nearly everything I beleive on this topic has already been said but I'd like to add an important point. If there are no death duties then the government still earns tax dollars on the returns on investment over time. If there are death duties then the tax dollars end up unproductive and squandered by the ever growing government.
My family will be coming into the death duty issue from the UK very shortly, not really looking forward to it.
Also for anyone who holds a large amount of private shares you run into the issue of having to liquidate houses and other assets just to hold onto them.
My family will be coming into the death duty issue from the UK very shortly, not really looking forward to it.
Also for anyone who holds a large amount of private shares you run into the issue of having to liquidate houses and other assets just to hold onto them.
bigdog
Retired many years ago
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July 2018
Bill likely to announce Inheritance Tax/Death Duties after being elected!!
http://morningmail.org/labors-suicide-death-taxes/
Labor’s wanton suicide by inheritance taxes
Bill Shorten must think he killed a Chinaman and is thus under seven years of bad luck when he heard his union masters calling for a green light for people smugglers and worse—’death taxes’ on inheritance money and presumably, all other assets. Go ahead you dopes, do it! That alone should jolt the senses of every Australian with living parents. Especially those parents that believed in working their guts out, going without, scrimping and saving so they could shuffle off to God leaving it all to their kids to piss up against the wall—as so often is the case. The parents will be gone from the clutches of avaricious Labor crooks and so will the children’s inheritance—the mere mention of death taxes, etc is political suicide. The kids in dire disappointment would have to be total morons to vote Labor—ever!
Source: News Corp
https://www.dailytelegraph.com.au/n...n/news-story/fbd72672d54eb4d5796bad80b3b12dff
Inheritance tax on list of union demands for Bill Shorten
Sheradyn Holderhead, National Political Reporter, The Daily Telegraph
July 21, 2018 12:00am
POWERFUL union leaders are calling for Bill Shorten to introduce a death tax in their latest demand ahead of the federal election.
The call for a new tax on children who inherit cash and property when their parents die comes after the Australian Council of Trade Unions pressured Mr Shorten to announce he would stop turning back people-smuggling boats and end offshore detention if Labor wins government.
The Saturday Telegraph can today reveal the ACTU this week agreed to a plan to push for an inheritance tax, which was abolished in Australia almost 40 years ago.
“An inheritance tax on the wealthiest estates can restore fairness to our tax system and ensure the very wealthy and big business pay tax,” an ACTU spokesman told The Saturday Telegraph.
In a policy document signed off by ACTU members this week it states: “Consideration should be given to taxing inheritances in the hands of the beneficiary.
“A lifetime threshold could be made available to the taxpayer with tax payable once cumulative inheritances exceeded the threshold.”
Asked if Labor would consider an inheritance tax, Mr Shorten referred the question to shadow treasurer Chris Bowen, whose spokesman said: “Labor has no plans for an inheritance tax.”
Mr Shorten also did not comment yesterday on the ACTU’s demands he wind back the government’s tough border protection policies.
Prime Minister Malcolm Turnbull yesterday accused Mr Shorten of being controlled by “union paymasters” who were demanding that he “weaken our border protection, which will again outsource our borders to people smugglers”. “The prospect of a Bill Shorten government controlled by unions, weakening our border protection policies, outsourcing our sovereignty, our borders to people smugglers, that is a real threat to the security of Australia.”
Bill likely to announce Inheritance Tax/Death Duties after being elected!!
http://morningmail.org/labors-suicide-death-taxes/
Labor’s wanton suicide by inheritance taxes
Bill Shorten must think he killed a Chinaman and is thus under seven years of bad luck when he heard his union masters calling for a green light for people smugglers and worse—’death taxes’ on inheritance money and presumably, all other assets. Go ahead you dopes, do it! That alone should jolt the senses of every Australian with living parents. Especially those parents that believed in working their guts out, going without, scrimping and saving so they could shuffle off to God leaving it all to their kids to piss up against the wall—as so often is the case. The parents will be gone from the clutches of avaricious Labor crooks and so will the children’s inheritance—the mere mention of death taxes, etc is political suicide. The kids in dire disappointment would have to be total morons to vote Labor—ever!
Source: News Corp
https://www.dailytelegraph.com.au/n...n/news-story/fbd72672d54eb4d5796bad80b3b12dff
Inheritance tax on list of union demands for Bill Shorten
Sheradyn Holderhead, National Political Reporter, The Daily Telegraph
July 21, 2018 12:00am
POWERFUL union leaders are calling for Bill Shorten to introduce a death tax in their latest demand ahead of the federal election.
The call for a new tax on children who inherit cash and property when their parents die comes after the Australian Council of Trade Unions pressured Mr Shorten to announce he would stop turning back people-smuggling boats and end offshore detention if Labor wins government.
The Saturday Telegraph can today reveal the ACTU this week agreed to a plan to push for an inheritance tax, which was abolished in Australia almost 40 years ago.
“An inheritance tax on the wealthiest estates can restore fairness to our tax system and ensure the very wealthy and big business pay tax,” an ACTU spokesman told The Saturday Telegraph.
In a policy document signed off by ACTU members this week it states: “Consideration should be given to taxing inheritances in the hands of the beneficiary.
“A lifetime threshold could be made available to the taxpayer with tax payable once cumulative inheritances exceeded the threshold.”
Asked if Labor would consider an inheritance tax, Mr Shorten referred the question to shadow treasurer Chris Bowen, whose spokesman said: “Labor has no plans for an inheritance tax.”
Mr Shorten also did not comment yesterday on the ACTU’s demands he wind back the government’s tough border protection policies.
Prime Minister Malcolm Turnbull yesterday accused Mr Shorten of being controlled by “union paymasters” who were demanding that he “weaken our border protection, which will again outsource our borders to people smugglers”. “The prospect of a Bill Shorten government controlled by unions, weakening our border protection policies, outsourcing our sovereignty, our borders to people smugglers, that is a real threat to the security of Australia.”
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The globalists dream is easy: tax the rich.. Aka..anyone above the 51pc of electorate needed to ensure victory
Import your own electorate if need be or if the natives start rebelling Well demonstrated bydemocrates in the USA , labour here etc
Initially tax income to distribute to your 51 % electors
then stage 2. Tax assets: you have something I do not have. Not fair.
Last stage: ensure nothing is left as inheritance. Ultimately even taxing the last living partner.. Not even the decency to wait for natural death
For all steps above , study France.. The socialist paradise...
Import your own electorate if need be or if the natives start rebelling Well demonstrated bydemocrates in the USA , labour here etc
Initially tax income to distribute to your 51 % electors
then stage 2. Tax assets: you have something I do not have. Not fair.
Last stage: ensure nothing is left as inheritance. Ultimately even taxing the last living partner.. Not even the decency to wait for natural death
For all steps above , study France.. The socialist paradise...
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Well it certainly would reduce the need to tax the person who has paid for their retirement.
But I would rather a volumetric tax, on raw materials exported.
To keep trying to screw more tax out of the people, while billions of tons of finite resources are shipped out for minimal tax, seems obscene to me.
But I would rather a volumetric tax, on raw materials exported.
To keep trying to screw more tax out of the people, while billions of tons of finite resources are shipped out for minimal tax, seems obscene to me.
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Obscene it is but you have to remember the 1pc exists even in this socialist paradise, a line of blood sucking politician leeches needs to get their cut and this is done via cajoling big business unions positions and seats in boards. So better taxing the 45% of the population you designate as the rich bastards.
And god forbid if sxit happens: you then just seize.. Super, accounts, gold, etc
French révolution Stalin, Khmer rouge, Savez or Bernie, Macron and our friend Bill.. All the same ideology and principle
Have to admit the methodology is perfect and flawless as long as democracy is maintained.
Only economics usually manage to end the perfect scheme, and history often adds a final attempt at war to appease the starving masses.
But we are obviously so different here..
Bring us back a Keating Left
And god forbid if sxit happens: you then just seize.. Super, accounts, gold, etc
French révolution Stalin, Khmer rouge, Savez or Bernie, Macron and our friend Bill.. All the same ideology and principle
Have to admit the methodology is perfect and flawless as long as democracy is maintained.
Only economics usually manage to end the perfect scheme, and history often adds a final attempt at war to appease the starving masses.
But we are obviously so different here..
Bring us back a Keating Left
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Death Tax will leave a few skeletons in the closet.
When questioned by the tax man...
"Nah Nah Nah Dads NOT dead! He is just away on a long holiday."
When questioned by the tax man...
"Nah Nah Nah Dads NOT dead! He is just away on a long holiday."
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Few realised it at the time but in hindsight Hawke / Keating represent the high point in Australian politics in recent decades.
A government that got things done and which did so based on rational logic rather than playing petty games favouring one group or another as seems to be the case these days.
Zaxon
The voice of reason
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They certainly achieved a lot. But I haven't forgotten the Keating recession "we had to have".
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Or the 50% reduction in the value of the $aus, or the company tax rate cut and the loss of 18% in wages due to the accord.
But it worked out o.k.
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But don't we think we actually need a recession in Australia now.. The problem is I do not see any politician having the guts to say it, they are ready to sacrifice your kids future ebt, immigration to ensure it does not happen and they can save their cushioned positions
But it is OK we will blame the rich or the unions
ebt, immigration to ensure it does not happen and they can save their cushioned positionsBut it is OK we will blame the rich or the unions
wayneL
VIVA LA LIBERTAD, CARAJO!
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Perhaps it's time for a dedicated thread on this topic. It keeps being mooted and now it appears in the MSM.
Are we being "tenderised" into accepting this?
For me if the populous accepts this, it will be the last straw... The sheeple accepting being put over the barrel and not even with Vaseline and the death of the real (but ailing) Australia
Are we being "tenderised" into accepting this?
For me if the populous accepts this, it will be the last straw... The sheeple accepting being put over the barrel and not even with Vaseline and the death of the real (but ailing) Australia
