The budget, what's your thoughts?

[clowboy]

Re: The budget, whats your thoughts?

Nizar, the tax free threshold has in fact been increased from $6000 to $11,000 as I heard it.

That's not right.

Tax free threshold is still 6k, but the low income rebate has gone from 10k to 11k (ie up 1k).

 

[Rafa]

Re: The budget, whats your thoughts?

thats correct clowboy...

interesting budget, certainly the rep from busness they kept interviewing on ABC loved it, and she even felt sorry for labor cause most of their thunder has been stolen...

as someone said earlier...
this liberal govt believes in fat govt... which is decidedly un-liberal. why take the money in the frist place if you just plan on giving it back!

 

[krisbarry]

Re: The budget, whats your thoughts?

I am very happy...I get another $1,500 super co-contribution on-top of the already paid $1,500, for the 2005/06 tax year

a 300% return on a $1,000 investment

 

[The Mint Man]

Re: The budget, whats your thoughts?

I am very happy...I get another $1,500 super co-contribution on-top of the already paid $1,500, for the 2005/06 tax year

a 300% return on a $1,000 investment

yes, I forgot to mention that before. This will win a few hearts.... even Im considering it!

 

[Rafa]

Re: The budget, whats your thoughts?

just a questions...
is $1000 to get $3000 the maximum figure one can contribute, or can you put in more, and if so what is the limit?

 

[Julia]

Re: The budget, whats your thoughts?

That's not right.

Tax free threshold is still 6k, but the low income rebate has gone from 10k to 11k (ie up 1k).

Yes, I should have been more clear. For those eligible for the tax offset this has apparently been increased, effectively meaning those people don't pay tax on income up to $11,000.

 

[Happy]

Re: The budget, whats your thoughts?

Yes, I should have been more clear. For those eligible for the tax offset this has apparently been increased, effectively meaning those people don't pay tax on income up to $11,000.

As mentioned before, why meddle with taking tax and then give it back?



There must be some logic in it, but I just don't see it.

 

[macca]

Re: The budget, whats your thoughts?

One problem with creating infrastructure is that we don't have many unemployed that can be used to actually do the work.

I think most business people will tell you it is hard to get good people and a wage push is a very real threat to interest rates.

I am glad that the teachers union based mania of the past decade, where everyone was assumed to be an academic and go to Uni, has finally been shown to be BS and we now have trade schools encouraging those who wish to learn a trade.

Hopefully we will have a lot more happy teenagers, boys in particular, but girls as well, learning a skill that they enjoy using rather than spending 3-5 years at Uni, incurring a HECS debt and then finding they don't like the work.

 

[JMcDog]

Re: The budget, whats your thoughts?

The co-contribution is up to a maximum of $1,500 based on your contribution of $1,000 (for low income earners). i.e. you could contribute your $1,000 before June 30th and the Govt. will deposit $1,500 into your Super fund, as their co-contribution, later this year once they have received/verified your Tax Return etc. HOWEVER, in last nite's budget it was revealed that an ADDITIONAL co-contribution will be made for those who qualified LASt tax year. i.e. If you have already received a co-contribution for the 2005/2006 tax year, you will receive the same again.... up to the maximum of $1,500. This will apparently be paid into your super fund before 30th June 2007.
Hope this helps.

 

[Rafa]

Re: The budget, whats your thoughts?

thanks for that...

so it looks like if i didn't contribute extra last year, its too late...

 

[Mousie]

Re: The budget, whats your thoughts?

As mentioned before, why meddle with taking tax and then give it back?



There must be some logic in it, but I just don't see it.

The logic? The government is facing criticism on a lot of things which they claim they can't (read: don't want to) address, so they cheer folks up by meddling with tax. Keep the masses happy by not undoing their previous excesses, like how the FHOG and negative gearing are. All those two have done are achieving ever higher property prices without addressing the core problem: inadequate land supply for building property. This is because undoing previous excesses is gonna piss a hell lot of people off who's already benefiting from them, and this is an election year. Not worth the risk, even though the logic's deafeningly compelling.

 

[Smurf1976]

Re: The budget, whats your thoughts?

as someone said earlier...
this liberal govt believes in fat govt... which is decidedly un-liberal. why take the money in the frist place if you just plan on giving it back!

Exactly. I'm not against government doing things but it's ridiculous this amount of giving and taking from the same people. So many patches everywhere suggests the tax system itself needs a major overhaul.

Trouble is, fixing the problem gets rid of quite a bit of what the government is doing with all the patch ups so they won't be keen on it.

 

[Happy]

Re: The budget, whats your thoughts?

Exactly. I'm not against government doing things but it's ridiculous this amount of giving and taking from the same people. So many patches everywhere suggests the tax system itself needs a major overhaul.

Trouble is, fixing the problem gets rid of quite a bit of what the government is doing with all the patch ups so they won't be keen on it.

Yes, they keep themselves busy and having complicated system justifies their numbers.

 

[Happy]

Re: The budget, whats your thoughts?

From ABC, May 10, 2007


BUDGET 'IGNORES PETROL SNIFFING'



The central Australian Youth Link-Up Service says the Federal Budget has provided no good news for Aboriginal communities fighting petrol sniffing.

Northern Territory Community Services Minister Nigel Scullion announced earlier this year that $8 million would be spent delivering youth programs to four communities in the region.
The Youth Link-Up Service has been lobbying for youth programs for 12 other communities to give petrol sniffers something else to do.

But service spokesman Blair McFarland says there is no sign of any more money coming into the region.
"There's about another 12 communities that we work with that need a similar allocation of serious funds to get them up to standard, so we're hopeful that the Government will make a commitment to those remote communities to get them up to the standards that other Australians enjoy," he said.

"The money is there in Canberra. I'm just hoping that it will get out and onto the ground, and not be absorbed by too many government departments."

programs for 12 other communities to give petrol sniffers something else to do.

For me days were and are too short for everything I want to do.

Things changed, now you need somebody else to pull your finger out and do something meaningful with it.

 

[The Mint Man]

Re: The budget, whats your thoughts?

For me days were and are too short for everything I want to do.

Things changed, now you need somebody else to pull your finger out and do something meaningful with it.

Well said....
What a load of rubbish that is! there are alot of people with problems out there, it would be impossible to fix them all at once. Like you said they can go a long way to fixing themselfs by pulling their own finger out.

 

[Rafa]

Re: The budget, whats your thoughts?

To true, especially when there aren' t many votes in it anyway...

 

[The Mint Man]

Re: The budget, whats your thoughts?

Anyone going to watch Kevin Rudd's right to reply tonight?

 

[waza1960]

Re: The budget, whats your thoughts?

Slightly off topic but I reakon Costello is the best treasurer ever.I am impressed by his knowledge and confidence that shows whenever he is interviewed although a little too arrogent perhaps.

 

[Julia]

Re: The budget, whats your thoughts?

Anyone going to watch Kevin Rudd's right to reply tonight?

I did try, but boredom got the better of me and I changed channels.

Especially I find his constant use of unnecessary metaphors distracting and redundant.

Anyone else?

 

[Dutchy3]

Re: The budget, whats your thoughts?

I was upset that the ABC had something like 3 hours of budget analysis booked for the Tuesday night time slot! Tuesday night is BILL night!!!! My wife latter told me that The Bill still came on at 8.30pm ... I missed it as the dredded gastro took me down that day and fell asleep at about 7.30pm ...

Didn't even record it for me ....!!!!!!!!!