Why?
So you've lived in the same house for 30++ years and it has now gone up in value. Hello...pay more tax. I think a lot of oldies are asset rich but cash flow poor.
The WA Labor government after coming to office in 2000 was going to introduce a premium property tax at a rate of 2%pa on properties valued at $1m or over.So you've lived in the same house for 30++ years and it has now gone up in value. Hello...pay more tax. I think a lot of oldies are asset rich but cash flow poor.
The WA Labor government after coming to office in 2000 was going to introduce a premium property tax at a rate of 2%pa on properties valued at $1m or over.
After realising the impact it would have on asset rich but income poor households like the above, the idea was modified to delay payment to be made out of their estate after they died.
Whether as a means of forcing people out of their home of several decades or as a de-facto death duty, it was ultimately dropped.
The WA Labor government after coming to office in 2000 was going to introduce a premium property tax at a rate of 2%pa on properties valued at $1m or over.
After realising the impact it would have on asset rich but income poor households like the above, the idea was modified to delay payment to be made out of their estate after they died.
Whether as a means of forcing people out of their home of several decades or as a de-facto death duty, it was ultimately dropped.
It would be more along the lines of "sell your 1.2 million house buy yourself a $450,000 apartment and live off the balance of the sale proceeds".
Why should I be forced to sell my house, just to pay a tax because the Government stuffed up their spending and budgeting. It's crazy.
I agree.
Lets say I buy a home somewhere in Sydney/Melbourne today for $800k. Not a popular area at the moment, on the outskirts of the city.
In 40 years, that area might be popular and the house might be worth $3 million, but l was just an average worker and living off the pension now at ~70 years of age.
Why should I be forced to sell my house, just to pay a tax because the Government stuffed up their spending and budgeting. It's crazy.
Australian government may ban environmental boycotts
Coalition MPs and industry groups are using a review of competition laws to push for a ban on campaigns against companies on the grounds that they are selling products that damage the environment, for example by using old-growth timber or overfished seafood.
The parliamentary secretary for agriculture, Richard Colbeck, said the backbench rural committee and “quite a number in the ministry” want to use the review to remove an exemption for environmental groups from the consumer law ban on so-called “secondary boycotts”.
“I do think there is an appetite in the government for changing these laws,” Colbeck said.
The exemption also applies to campaigns related to “consumer protection” but Colbeck said he would not be seeking to change that provision.
The government announced last week a “root and branch review” of competition policy headed by the economist Professor Ian Harper.
You can't place all the blame on the "Government". It's the electorate that expects a certain level of services.
In short, the existing base needs to be looked at before existing taxes are increased or new taxes introduced and that also includes the GST.
The problem with tax reform is there are winners and losers and more of the latter when brought about by a budget already under stress.
My view remains that the priority with GST reform should be broadening the base before raising the rate or in other words, fixing the compromise that was originally made with the Democrats to get it up in the first place. This would be a genuine tax reform rather than just a tax increase.I believe it is inevitable that sooner or later the GST will be raised to possibly 15% in line with New Zealand. But cannot see it happening this side of the next election 2016 after Abbott promised there would "NO INCREASE IN THE GST UNDER A GOVERNMENT HE LEADS DURING HIS FIRST TERM....and I believe he will honor his commitment.
I did an exercise last year based on the current income from the GST at 10%.....At 12.5% it would bring in $11 billion.......At 15% based on just double the extra 2.5% that would bring in $22 billion.per year.
got to do with this thread?
.I know who the low life is!!!!!!!!!!!!!!!
I agree.
Lets say I buy a home somewhere in Sydney/Melbourne today for $800k. Not a popular area at the moment, on the outskirts of the city.
In 40 years, that area might be popular and the house might be worth $3 million, but l was just an average worker and living off the pension now at ~70 years of age.
Why should I be forced to sell my house, just to pay a tax because the Government stuffed up their spending and budgeting. It's crazy.
My view remains that the priority with GST reform should be broadening the base before raising the rate or in other words, fixing the compromise that was originally made with the Democrats to get it up in the first place. This would be a genuine tax reform rather than just a tax increase.
I think you are a bit off beat IFocus....what relevance has these comments and allegations got to do with this thread?
Are you now trying to link Downer with the Abbott Government for something that is alleged to have happened in 2009....I know who the low life is!!!!!!!!!!!!!!!
Interest rates are determined by the RBA, markets and banks.And how would they compensate self funded retirees not getting a pension, and with interest rates so low they are hardly getting any return on their savings ?
And how would they compensate self funded retirees not getting a pension, and with interest rates so low they are hardly getting any return on their savings ?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?