Is Shorten PM material?

[PZ99]

I probably paid more tax last year then you did in a decade. This year will be worse. I've got no problem paying whats owed. I do have a problem with taxing your way out as the first option.

As for paying it off. You grow the pie.

You seen Turnbull on TV lately, surrounded by all those Asians?
He ain't ordering take out (you racist). He's negotiating better trade, with a whole heap of soon to be middle-class earners.
He has also been working Trump, with the help of Trumps buddy Greg Norman.
They have been focused on trade. And its Tbulls area of expertise.

The libs have been doing a lot of the boring shite no one cares about. It will eventually get us in a good position.
If Abbott got his way with his slash and burn then we would have been there quicker.

Have they wasted money... yes. But they have been pushing in the right direction of late, after labors inward looking fkup.
Imo they need to push a lot harder then what they currently are.

Complete tax reform is whats needed. But that should have happened on Howards last term or Rudds first term. Now it will have to happen if they let it get too bad. Cause no one seems brave enough except Dutton.

LOL at Abbott getting there quicker with slash and burn. It was Abbott that made it worse by shattering consumer confidence.

You don't grow the pie with slash and burn. You don't grow it by charging business a tax to pay for some generous paid parental leave. You don't don't grow it by charging $7 for a doc's visit and shoveling the money to an off budget fund. You don't grow it by making people work until 70 or slashing their penalty rates. and you certainly don't grow it by shutting down the entire auto industry.

Yes, I agree Turnbull's trade policies are better.

No, I don't think you paid more tax in a year then I did in a decade.

 

[Wysiwyg]

You will find they were the ones who worked hard,did without, saved and invested.
While the other 90% either didn't work, or worked and spent everything and are now on a fully funded pension.

There was a percentage who worked all their lives and missed a large chunk of compulsory superannuation compounding too.

 

[Wysiwyg]

I also am not happy about getting taxed on all my work beyond the standard working 38 hour week. All overtime should be half taxed at the most. My extra effort and time, not societies nor the governments.

 

[PZ99]

The 200,000 people who are getting a tax break, were probably stimulating the economy for the last half a century.

How is that possible when the tax break in question only existed for less than 20 years?

You will find they were the ones who worked hard,did without, saved and invested.
While the other 90% either didn't work, or worked and spent everything and are now on a fully funded pension.

Sure, but they are a separate identity to this debate.

Well then you are getting a tax break.

Capital gains 50% discount?

Nope.

 

[moXJO]

LOL at Abbott getting there quicker with slash and burn. It was Abbott that made it worse by shattering consumer confidence.

You don't grow the pie with slash and burn. You don't grow it by charging business a tax to pay for some generous paid parental leave. You don't don't grow it by charging $7 for a doc's visit and shoveling the money to an off budget fund. You don't grow it by making people work until 70 or slashing their penalty rates. and you certainly don't grow it by shutting down the entire auto industry.

Yes, I agree Turnbull's trade policies are better.

No, I don't think you paid more tax in a year then I did in a decade.

Didn't say I agreed with Abbott. But his slashing would have gutted areas that needed to be gutted.

Do you run businesses?

 

[moXJO]

How is that possible when the tax break in question only existed for less than 20 years?


Sure, but they are a separate identity to this debate.




Nope.

So you don't invest beyond a year?

 

[PZ99]

I also am not happy about getting taxed on all my work beyond the standard working 38 hour week. All overtime should be half taxed at the most. My extra effort and time, not societies nor the governments.

Yeah a lot of my mates tend to avoid O/T citing the tax.

Although some opt for a day in lieu instead.

 

[moXJO]

I also am not happy about getting taxed on all my work beyond the standard working 38 hour week. All overtime should be half taxed at the most. My extra effort and time, not societies nor the governments.

Put it in super.

 

[PZ99]

Didn't say I agreed with Abbott. But his slashing would have gutted areas that needed to be gutted.

Do you run businesses?

I did years ago. For about 5 years... during the recession we had to have. Took it over and turned it around to a level that enabled me to employ more staff. Open a second business to complement it.

 

[PZ99]

So you don't invest beyond a year?

No.

 

[moXJO]

No.

So you are currently wage slaving it.

 

[Wysiwyg]

Put it in super.

I do o.t. to kill existing debt. Super is too far away but a percentage of o.t. is a good idea, thanks.

Yeah a lot of my mates tend to avoid O/T citing the tax.

Although some opt for a day in lieu instead.

Time in lieu is an option but I don't like it because they offer time for time rather than 1.5 times like the pay rate.

 

[sptrawler]

There was a percentage who worked all their lives and missed a large chunk of compulsory superannuation compounding too.

That is very true, my late father retired in the 1990's as an electrical supervisor and had minimal super.
But having said that, of all the people I have known in my working career, very few saved other than super.
I read a book a long time ago by Noel Whitaker, in it he said of 100 people only about 5 will become financially independent, I've found that fairly accurate.
Most spend everything they earn, and then get credit, to spend their future earnings.
After a lifetime of this, they wonder why they have nothing, and demand money be taken of the 5 that did save.
The funny thing is, Labor agrees with them, reason being most of them vote Labor.

 

[PZ99]

So you are currently wage slaving it.

I'm trading it. Sold a few stocks for higher than today's prices

 

[moXJO]

I do o.t. to kill existing debt. Super is too far away but a percentage of o.t. is a good idea, thanks.

Is it investment or house debt?

 

[moXJO]

I'm trading it. Sold a few stocks for higher than today's prices

Any reason you're not trading in a company structure?

 

[Wysiwyg]

Is it investment or house debt?

Motgage and small personal loan.

 

[PZ99]

Any reason you're not trading in a company structure?

Not particularly. I'm a beginner at trading but the results are good. If they stay that way I might use the company.

 

[PZ99]

Motgage and small personal loan.

Use the O/T to kill off the personal loan first I reckon - or consolidate it in your home loan.

 

[sptrawler]

How is that possible when the tax break in question only existed for less than 20 years?

The tax break is mainly to SMSF that have shares and individual retirees who have small share holdings.
Those will be people, who have saved over a whole working career and paid tax over a half century.
Well that is my case, and the case of people I personally know, that will be effected.