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Labor's proposed franking credit changes

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Value Hunter said:
Australia does not have a problem of insufficient tax revenue. We have more than enough tax revenue. We have a problem of excessive government spending which needs to be cut.
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That's pretty much what I've been saying in this thread Value Hunter.
We are overtaxed because we keep giving too much money away.

Any proposals on what services should be cut? Neg Gearing perhaps? Paid maternal leave? International aid? NDIS? Anything else?
 
PZ99 said:
Neg Gearing perhaps? Paid maternal leave? International aid? NDIS? Anything else?
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Only neg gearing from that list.

Paid maternal leave is 18 weeks at minimum wage, hardly excessive!! I wouldn't be opposed to limiting it beyond a certain number of children, however.
 
PZ99 said:
That's pretty much what I've been saying in this thread Value Hunter.
We are overtaxed because we keep giving too much money away.

Any proposals on what services should be cut? Neg Gearing perhaps? Paid maternal leave? International aid? NDIS? Anything else?
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Definitively NDIS on its current firm, remove one level of government, reduce tax complexity and slash ato ato number to match, atop spending billions on useless outdated military toys submarines,fighters, reduce army overall,reduce laws and regulations, bureaucracy saving money and the planet,
In a process of rebuilding a house i think 30 to 40pc of costs are mandatory useless red or green tape
I couldcgo withwexamples forfpages..a ussr type joke
WeWe wou be well over the 100 billions better just with the above
The real issue is australians are fully unaware on how highly taxed they are for the provided services
If they compare to bali, they see no service or europe they do not see the services...or the debt
Socialist banana republic indeed
 
Humid said:
Buy an Indian at your age and im the w@nker
Ok for you and your mob to cut penalties
How does it feel when you get bent over
Tosser
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Penalty rates were cut by the Fair Work Commission ...... the Fair Work Commission was created by the Fair Work Act 2009 as part of the Rudd Government's reforms to industrial relations in Australia.

Bill Shorten is a former Minister for Employment and Workplace Relations. He supported the work of the commission and its independent nature from government when he was minister.
 
HelloU said:
Penalty rates were cut by the Fair Work Commission ...... the Fair Work Commission was created by the Fair Work Act 2009 as part of the Rudd Government's reforms to industrial relations in Australia.

Bill Shorten is a former Minister for Employment and Workplace Relations. He supported the work of the commission and its independent nature from government when he was minister.
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It's about as independent as a proxy Govt department.
In 2012 they recommended no changes to penalty rates. In 2016 they cut the Sunday rate.
In both cases they were lobbied by the Govt of the day (ALP, then LNP)

If Labor do win the election they'll need to undo their error and remove penalty rate decisions from FWC.
 
PZ99 said:
It's about as independent as a proxy Govt department.
In 2012 they recommended no changes to penalty rates. In 2016 they cut the Sunday rate.
In both cases they were lobbied by the Govt of the day (ALP, then LNP)

If Labor do win the election they'll need to undo their error and remove penalty rate decisions from FWC.
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I think the same about many of the High Court decisions. Perhaps the answer is to get rid of all these "independent" bodies and just let the government of the day "rule" (no thankyou).

Governor General appointed the commission peeps - perhaps peeps could write him a letter of complaint if unhappy (or send a letter to his boss)
 
PZ99 said:
Any proposals on what services should be cut? Neg Gearing perhaps? Paid maternal leave? International aid? NDIS? Anything else?
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Corporate and upper-middle class welfare would be the obvious place to start.

Corporate welfare alone is many $ billions both direct and semi-hidden.
 
Value Hunter said:
Estonia has a flat 21% corporate tax rate except that they have an offset for reinvested earnings, therefore in Estonia companies pay zero tax on earnings that are reinvested into the country. They do this to encourage investment
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I know practically nothing about Estonia beyond their use of oil shale (that's a hard rock, solid material not a liquid and Estonia is the only country making major use of it as an energy source) but as a concept this sounds like a good one.

Pay tax but we'll give it back if you invest the money within the country.

Sounds like a good idea to me since it encourages investment.

Easy money from mining, asset sales and a credit bubble has given us lazy governments at all levels which see no need to innovate. :2twocents
 
You have to read this, what a hoot, take about weird reporting.
https://www.smh.com.au/politics/fed...s-negative-gearing-wanes-20190329-p518xx.html

From the article:
The overall number of people negatively gearing a property has fallen over the past four years but the proportion with more than three properties now amounts to almost one in 10.


The article doesn't say how many have more than 3 properties, but allude to one in ten, is that of the population?
Of course not, but you can see why they are dumbing down the education system, easy to sell a bunny. lol
 
These franking credits, from retirees and low income people, are going to have to go a long way. Now Labor are going to give business a tax deduction for electric cars.lol

https://www.drive.com.au/news/labor...ign=tile-1&utm_medium=referral&utm_source=smh
From the article:
Labor is also calling for a government fleet target of 50 per cent by 2025, as well as allowing businesses to get an upfront tax deduction to purchase electric vehicles for business purposes.

Add to that the rich keep the franking credits, the rich can negative gear new build investment houses and get Government rent assistance.

I'm glad I'm helping out.:roflmao:
 
i think labor has been very up front with this policy. (that is not an endorsement btw)

trustees of smsf's may not like this policy, but at least they get a choice on what to do if labor form government (and the role of a trustee is to make fund decisions as circumstances demand)

i wonder how many peeps have withdrawn money from accumulation accounts for a house deposit under the new liberal law? this has only reinforced to me that everything is up for change (from both sides of politics) ...... so my plans need to be fungible.
 

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