The Gillard Government

[sptrawler]

They should have a chat with Paul Keating.

I'm of the view that all deductions from salary income should be abolished, but only as part of broader tax reform, not a short term budget fix. In the case of property, it should be in exchange for the removal of other taxes such as land taxes, stamp duties etc.

Some countries allow owner occupiers a tax deduction for interest payed.
Makes a lot more sense than than giving a tax deduction to people gambling on a capital gain while purchasing a loss making investment. Not only loss making but no probability or intention of it becomming positively geared.

 

[drsmith]

I've commented at length on tax reform in the past. This has essentially revolved around simplification on the basis of fixing holes in the revenue base and using the proceeds to remove nuisance taxes and reduce tax rates overall.

Allowing owner occupiers a tax deduction for home loan interest would therefore not be a part of that.

 

[sptrawler]

I've commented at length on tax reform in the past. This has essentially revolved around simplification on the basis of fixing holes in the revenue base and using the proceeds to remove nuisance taxes and reduce tax rates overall.

Allowing owner occupiers a tax deduction for home loan interest would therefore not be a part of that.

Good point drsmith. It would also open the door for capital gains to be applied to the family home so it would be very unpopular.

 

[Calliope]

Poor old Julia. She went to China to put their leaders on the right track on their human rights responsibilities.

She forgot about the "clean hands" doctrine. Back home people fleeing from despotic governments and seeking asylum in Australia are being subject to cruel and inhuman treatment by Julia's government. The Chinese found it hard to keep a straight face.

 

[sptrawler]

Oh well from the report on the news this morning, they are expecting a budget deficit of $50billion.
Well thats not a bad turn around $20billion surplus to $50billion deficit in three and a half years.
What do we have to show for it, lots of plasma t.v's, dodgy home insulation and of course Julias dodgy school programme. Which should help with the detention building and repair programme currently unfolding.
I know I may sound cynical but can someone tell my something positive the government has done with the money. I'm sorry but I can't think of one thing.

 

[Julia]

Further, because of the above deficit, they will be cutting more medicines from the PBS and not approving for inclusion new medicines which can apparently greatly improve the lives of sufferers of some cancers and also schizophrenia.

 

[sptrawler]

Hello Julia, I think by the share market reaction today, after a positive lead from wall street, the voters are displaying their confidence in the government.
That is one hell of a drop for no reason. The dow up 70, us down 70, what the?

 

[sails]

Further, because of the above deficit, they will be cutting more medicines from the PBS and not approving for inclusion new medicines which can apparently greatly improve the lives of sufferers of some cancers and also schizophrenia.

Agree Julia. The way money is spent and then other necessities cut leaves a lot to be desired, IMO. And you wonder how much is being spent to get the PM and her eager partner to London? Money is no object if it's something she wants.

And what about all those carbon emissions with them flying halfway around the world again? Carbon tax has to be a money scam - nothing else makes any sense.

 

[Calliope]

That is one hell of a drop for no reason. The dow up 70, us down 70, what the?

It's our soaring dollar, and it must be a big worry for Swan. He must be revising his budget daily.

Australian shares are lower to noon, with the soaring high local dollar generating concerns about the effect on local companies.
It is the third day in a row that Australian stocks have struggled and ignored strong offshore leads, with the Dow Jones Industrial Average nearly reaching three-year highs this week.

Read more: http://www.smh.com.au/business/mark...y-concerns-20110429-1dzme.html#ixzz1Ksj6qxDFe

 

[warennie]

Oh well from the report on the news this morning, they are expecting a budget deficit of $50billion.
Well thats not a bad turn around $20billion surplus to $50billion deficit in three and a half years.
What do we have to show for it, lots of plasma t.v's, dodgy home insulation and of course Julias dodgy school programme. Which should help with the detention building and repair programme currently unfolding.
I know I may sound cynical but can someone tell my something positive the government has done with the money. I'm sorry but I can't think of one thing.

Pretty typical of what happens. We have a cyclical cycle here, Liberals in, build a surplus, labor in, spend our surplus and build a huge deficit. Its always the same, seems to work for us however.

 

[-Bevo-]

I know I may sound cynical but can someone tell my something positive the government has done with the money. I'm sorry but I can't think of one thing.

I can watch movies in high def now

 

[joea]

Hello Julia, I think by the share market reaction today, after a positive lead from wall street, the voters are displaying their confidence in the government.
That is one hell of a drop for no reason. The dow up 70, us down 70, what the?

The reason is the Australian dollar is too strong.
I can clearly remember Andrew Robb asking Swan to compile a mini budget before Christmas to get the value down. I think we are ok at 95-97 cents.
Swan's reply was go for an overseas trip.
There is another thread that explains it.

I think we are in big trouble folks.
Cheers

 

[joea]

I can watch movies in high def now

So can I, but up North Qld. we have signal problems at time with digital.
But generally on WIN.

But got a new HD TV without too much of hastle from "you know who"

joea.

 

[IFocus]

Pretty typical of what happens. We have a cyclical cycle here, Liberals in, build a surplus, labor in, spend our surplus and build a huge deficit. Its always the same, seems to work for us however.

Oh god yawn..... Hawke / Keating payed off Malcolms / Howards dept making Australia dept free for the 1st time ever............yawn

 

[IFocus]

The reason is the Australian dollar is too strong.
I can clearly remember Andrew Robb asking Swan to compile a mini budget before Christmas to get the value down. I think we are ok at 95-97 cents.
Swan's reply was go for an overseas trip.
There is another thread that explains it.

I think we are in big trouble folks.
Cheers

Just shows how hopeless Robb is after his election $11 bil black hole.............

 

[Calliope]

Oh god yawn..... Hawke / Keating payed off Malcolms / Howards dept making Australia dept free for the 1st time ever............yawn

"payed"? "dept"?... it's time for beddy-byes, I think.

 

[Julia]

I'm not sure if it was on this thread or some other but the question was raised this week about when the next Newspoll was due.

I was polled this evening so presumably those results will be out on Tuesday.

There were the usual political questions, i.e. for whom would you vote in the House of Reps: are you satisfied/dissatisfied with the performance of the PM: ditto the Leader of the Opposition: who do you think would make the better PM?

Then there was a similar group of questions about State politics.

Then a heap of stuff about (1) SBS/ABC/commercial TV and (2) cholesterol.

I suppose the political info is funded by commercial interests who pay for the cholesterol type results.

 

[sptrawler]

I don't know Julia, maybe the P.M is funding it to get feedback on her cholesterol.
I am only making this assumption on visuals from t.v. I do believe t.v can make you look heavier from what I have read.

 

[joea]

Just shows how hopeless Robb is after his election $11 bil black hole.............

You maybe correct.

However how I remember the situation is, Robb had a black hole based on assumption, and we were told the size of the hole by Gillard.(thats Juliar)
Meanwhile nobody remembers the overstatement of the miners tax by Swan by about 100%. It was announced when he went overseas.

So I suppose its ok to overstate, but not understate.

But I think there is a lot we do not see going on in the background. Both parties have not acted correctly with costing at an election. But the system fails the opposition who ever it is, as they do not have the resources.

Finally I will accept the costing of the coalition over Swan's anyday. Time will tell !
Cheers

 

[IFocus]

You maybe correct.

However how I remember the situation is, Robb had a black hole based on assumption, and we were told the size of the hole by Gillard.(thats Juliar)
Meanwhile nobody remembers the overstatement of the miners tax by Swan by about 100%. It was announced when he went overseas.

So I suppose its ok to overstate, but not understate.

But I think there is a lot we do not see going on in the background. Both parties have not acted correctly with costing at an election. But the system fails the opposition who ever it is, as they do not have the resources.

Finally I will accept the costing of the coalition over Swan's anyday. Time will tell !
Cheers

Its one thing that frustrates me is that the opposition doesn't have access to treasury to do its costings neither side when in government will change the rules because of the advantage of being in government.