The Albanese government

[SirRumpole]

If you allow taxpayer incentives to only those who can afford to build a new home and at the same time demolish the value of established homes, don't you think that would have increased the gap between the rich and the poor.

Nah, NG was intended to encourage the supply of new properties, applying ng to existing properties does distort the market because it gives an incentive to investors over owner occupiers, hence the increasing the prices without adding to supply.

 

[macca]

Just end negative gearing and CGT deductions and the rent seekers will sell out to owner occupiers and prices will drop.

Ain't going to happen, the new RBA boss owns three houses

 

[SirRumpole]

Ain't going to happen, the new RBA boss owns three houses

Yeah, lots of snouts in the trough, but government is independent of the RBA right ?

 

[mullokintyre]

The temporary insolvency protection rules have ended.
Plenty of businesses are now forced to declare themselves insolvent.

End to COVID-19 Insolvency Protections: Win For Creditors | Results Legal

On January 2021, as new insolvency reforms to support small business started, the COVID-19 temporary insolvency protections ended. Good news for creditors!

www.resultslegal.com.au

At some stage the ATO will tighten up debt recovery in 2021 – are your clients at risk? - Rapsey Griffiths

Now the pandemic’s effects are letting up, it’s tipped that the ATO will start taking action to recover the debt. Additional resources are also likely to be allocated to the ATO to help them manage the significant task of collecting tax liabilities, especially historical ones predating COVID. To...

rapseygriffiths.com.au

The above article was somewhat prescient.
From Evil Murdoch Press

National insolvency appointments soared by 57 per cent in the June quarter as the Australian Taxation Office ramped up its debt collection activities, with cash-strapped small and medium businesses in the middle of a “perfect storm”.
Insolvency Australia director Gareth Gammon said it has been a “tough year” with a significant increase in winding-up applications and ATO-initiated court recovery, particularly over the past quarter.

“Over the past year there’s been plenty of discussion in the sector about the incoming insolvency wave,” he said. “It started with a trickle and it’s now become more of a surge as economic pressures and the ATO’s debt collection activities combine to create the perfect storm.
“Beyond this last quarter, we’re now seeing an increase in court wind-ups by the big four banks, which means the next few months could well be equally challenging.”

According to the Corporate Insolvency Index, in the fourth quarter of the 2022-23 financial year there were 3008 external appointments, compared to 1921 in the April-June quarter in 2021.

In terms of volume, NSW was at the forefront, recording 1169 corporate insolvencies. Tasmania recorded the greatest percentage increase (133 per cent), followed by the ACT (64 per cent), while NSW and Queensland both recorded a 59 per cent uptick. Victoria had a 54 per cent rise, South Australia 52 per cent and Western Australia a 50 per cent increase. The number of insolvencies in the NT remained unchanged from the previous year.

Still only a flesh wound.
Mick

 

[mullokintyre]

What is it about Pm's making grandiose promises they know cannot be kept?
Albanese has promised to build 1.2 million homes over 5 year.
From The Guardian

States and territories will receive a “new home bonus” of up to $3bn if they help reach an updated target of 1.2m new homes over five years, the national cabinet has agreed.

The prime minister, Anthony Albanese, announced on Wednesday that the incentive payment will give jurisdictions $15,000 for every home delivered above the old target of 1m homes over five years from July 2024 in a bid to boost supply and improve affordability.
https://www.theguardian.com/austral...-watch-for-at-labor-party-national-conference
The federal government will also provide $500m through competitive funding for local and state governments to help bring “well-located” new housing supply online by connecting essential services, amenities to support new housing development, or building planning capability.

Albanese told reporters in Brisbane that “supply is the key to putting downward pressure [on rent] and assisting renters”, along with a package of “sensible renters’ rights”.

just the shere numbers are scary.
In 2020 there were around 190,000 houses built in Australia. to build the required 1.2 million houses will rrquire a further 240,000 houses a year for the 5 year period.
This is of course assuming that there will be sufficient extra tradies, sufficient extra timber, cement, bricks, plater tin etc etc.
I guess Alabanese's out is that so many of the constraints, land supply, approval processes, required infrastructure are all he problem of the states.
Stupid politicians, do they think everyone will conveniently forget this new and exciting promise?
Mick

 

[Sean K]

What is it about Pm's making grandiose promises they know cannot be kept?
Albanese has promised to build 1.2 million homes over 5 year.
From The Guardian

just the shere numbers are scary.
In 2020 there were around 190,000 houses built in Australia. to build the required 1.2 million houses will rrquire a further 240,000 houses a year for the 5 year period.
This is of course assuming that there will be sufficient extra tradies, sufficient extra timber, cement, bricks, plater tin etc etc.
I guess Alabanese's out is that so many of the constraints, land supply, approval processes, required infrastructure are all he problem of the states.
Stupid politicians, do they think everyone will conveniently forget this new and exciting promise?
Mick

It's all BS. Just think about #BlackOutBowen s promises for electricity price reduction and XX% renewables by 2030. Where's my $275 reduction in electricity bill?

 

[wayneL]

It's all BS. Just think about #BlackOutBowen s promises for electricity price reduction and XX% renewables by 2030. Where's my $275 reduction in electricity bill?

It's amusing how certain pollies are castigated as liars, when not one could lie straight in bed.

They are all liars.

 

[SirRumpole]

They are all liars.

No, the results will be contrary to expectations.

 

[farmerge]

It's all BS. Just think about #BlackOutBowen s promises for electricity price reduction and XX% renewables by 2030. Where's my $275 reduction in electricity bill?

Promises promises all made under the protction of patliamtary priviledge.

 

[farmerge]

It's amusing how certain pollies are castigated as liars, when not one could lie straight in bed.

They are all liars.

Wayne there's that old saying "they couldn't be starightened out on the rack" some are so bent they couldn't even be put on one.

 

[sptrawler]

The other problem is, the media ramp their favourites endlessly, so that the public have the promises burnt into their memory.
Then when the promises start failing the public is very aware of it.

 

[Sean K]

I don't mind the kid getting the internship. Nothing really dodgy there.

But, The Chairman's Lounge? Bidenesque.

 

[SirRumpole]

I don't mind the kid getting the internship. Nothing really dodgy there.

But, The Chairman's Lounge? Bidenesque.

View attachment 161230

Yeah, a bit of influence peddling there apparently, but I don't see why Albo should have to declare that as a 'registerable interest' as his son is not a minor any more so it doesn't affect Albo's interests.

 

[mullokintyre]

Yeah, a bit of influence peddling there apparently, but I don't see why Albo should have to declare that as a 'registerable interest' as his son is not a minor any more so it doesn't affect Albo's interests.

The problem is the optics.

PWC does not normally give out internships to anyone.
So why did the son get one?
Because of who he is.
PWC did not do it out of the goodness of their heart, they are looking for influence, like when some of those lucrative government outsourced consultancies come up.
My son calls it the private school networking scam that he is not a member , and that he blames me for not sending him to one of those expensive private schools.
mick

 

[Sean K]

Yeah, a bit of influence peddling there apparently, but I don't see why Albo should have to declare that as a 'registerable interest' as his son is not a minor any more so it doesn't affect Albo's interests.

Agree, the Chairman's Lounge is not registerable. But, if he knew about it, do you think he thought for a second, 'hmm, that might not look good'. I tested this at the pub last night. ????

 

[mullokintyre]

Agree, the Chairman's Lounge is not registerable. But, if he knew about it, do you think he thought for a second, 'hmm, that might not look good'. I tested this at the pub last night. ????

Perhaps you just need to change pubs.
time for a pub crawl.
Mick

 

[sptrawler]

The pub test these days IMO is would Scott Morrison have got away with it, if it was one of his daughters, I doubt it very much.

That's the problem with politics, you pile $hit on the Govt when they are in office, your bucket gets measured against it, when you attain office.

According to the then opposition Dutton was a warmonger when he was saying China was an issue, now what he said and did is boy scout stuff, compared to what's going on.

That's politics, the difference is these days everyone has google, so hoping on the public having a poor memory doesn't cut it anymore, which is great for accountability but difficult for politicians.

Penny Wong accuses Peter Dutton of ‘amping up’ threat of war in ‘dangerous election tactic’

Senator Wong has used a foreign policy speech to take aim at the Defence Minister’s recent declaration it would be “inconceivable” that Australia would not join the United States in a war to defend Taiwan against China.

www.sbs.com.au

Dutton stoking China threat in 'dangerous election tactic': Wong

Peter Dutton has been accused of risking a catastrophic war with China for votes.

www.canberratimes.com.au

And these days now Penny is in Government

Australia, US and Japan plan joint navy drills in disputed South China Sea

Three aircraft and helicopter carriers will sail together in a show of force coming shortly after Chinese coast guard ships used water cannons against Philippine vessels in the contested waterway, where disputes have long been regarded as a potential flashpoint.

www.abc.net.au

‘Abusing China’s restraint’: Beijing accuses Australia of provocation at sea

Global Times quotes comments by foreign ministry spokesman Wang Wenbin on military encounters in the South China Sea

www.theguardian.com

 

[SirRumpole]

The pub test these days IMO is would Scott Morrison have got away with it, if it was one of his daughters, I doubt it very much.

Albo hasn't "got away with it", he's been outed in the media.

Be sure your sins will find you out especially if you are Labor and the Murdoch media get onto it.

 

[sptrawler]

Albo hasn't "got away with it", he's been outed in the media.

Be sure your sins will find you out especially if you are Labor and the Murdoch media get onto it.

Or indeed Morrison and the SMH or the Guardian getting onto it.

That is the good thing about having both sides of politics having a left and right biased media,
it wouldn't work, if there was only one side given air, the voice would already be in.

 

[sptrawler]

Thankfully Labor are in office, there is a call to get a handle on the NDIS, well we did say it wasn't pensions that were a problem the NDIS was the elephant in the room and Labor are the only ones who can fix it.
The narrative would be completely different if the Liberals were in, so as was said many times, both sides of politics have to get a turn.

NDIS not a ‘limitless Magic Pudding’ as reviewers suggest major changes

A rebooted disability system should deliver baseline services to all people with a disability, especially children, rather than focus on individual NDIS packages.

www.smh.com.au

A rebooted Australian disability system should focus on delivering baseline services for all people with a disability and move away from individualised National Disability Insurance Scheme packages, particularly for young children, as cost blowouts threaten the scheme’s future.

Professor Bruce Bonyhady, an original architect of the NDIS who is now co-chairing the government-commissioned review of the $35.1 billion scheme, will say in a series of speeches on Tuesday that the fundamental shift is crucial to curtailing the scheme’s spiralling costs and improving equity for Australians who are being left out.