Australian (ASX) Stock Market Forum

Useless Labor Party

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sptrawler said:
Well the company pays the tax, the dividend is included as income and then the franking credit is taken off. If the franking credit can't be applied, then it boils down to double taxing. If that is how it is rolled out.
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That's not how it's going to be rolled out at all.

They are not abolishing the franking credit; just the cash refund that's given away to shareholders who don't pay tax in that year.
 
Presumably they'll remain as a credit to offset future tax liabilities.
 
PZ99 said:
That's not how it's going to be rolled out at all.

They are not abolishing the franking credit; just the cash refund that's given away to shareholders who don't pay tax in that year.
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Which could be your non working wife, if she has shares in her name, and stops work to have a family? Or a person who has bought shares with after tax dollars while working and living off the dividends, while looking for another job. Which by the way things are going could be a lot of people.
The shares are purchased with after tax dollars, to provide an income when not working, to not be credited with the franking, just because you aren't working is discrimination.IMO

Why should franking be dependent on whether or not you are working? Take it off for all or none, get a level playing field.
 
sptrawler said:
Which could be your non working wife, if she has shares in her name, and stops work to have a family? Or a person who has bought shares with after tax dollars while working and living off the dividends, while looking for another job.
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In other words... welfare. We are a welfare state that can't balance the budget.

Crikey, we have Family Tax benefits and paid parental leave. We used to have a baby bonus.
Paying people to have kids creates a sense of entitlement - wasn't that supposed to be over?

Why should having kids be a further liability on the taxpayer?
 
PZ99 said:
In other words... welfare. We are a welfare state that can't balance the budget.

Crikey, we have Family Tax benefits and paid parental leave. We used to have a baby bonus.
Paying people to have kids creates a sense of entitlement - wasn't that supposed to be over?

Why should having kids be a further liability on the taxpayer?
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Because we are importing people in large numbers already, why not encourage our own to breed?
 
sptrawler said:
Because we are importing people in large numbers already, why not encourage our own to breed?
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Because we don't have the money to pay for 18+ years of holding their hands for them.

Importing people to work and pay tax from day 1 sounds like a better plan for the budget.
 
Gotta be better than paying people to have kids? Speaking of unemployment...

http://www.news.com.au/national/bre...p/news-story/f0e155dd2b29aee8de62ab1f387c5f35

Australian businesses would get a permanent break on their taxes from a federal Labor government via a $20,000 instant asset write-off.

The Turnbull government first introduced the tax break for small and medium businesses in 2015/16 and extended it until June 30, 2018 in last May's budget.

Opposition Leader Bill Shorten announced on Tuesday his party would make the scheme permanent for all businesses to encourage new investment, costing the budget $3.4 billion over the forward estimates.
 
You will find that the ALP legislation has so many holes in it that it will make little difference.

I continue to sell off on highs heading to cash. Bring on a recession.

A recession is assured if the ALP get in with a minority government with the Greens.

If they win Batman, North Queensland will go Blue.

gg
 
PZ99 said:
OK so the ALP is ending some vote buying welfare set up by a previous conservative Govt.

Don't expect much sympathy from me :rolleyes:

Why should you get a refund if you don't pay tax?
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Because my threshold is not eligible for taxation, but the company was obliged to give my money to the govt?
 
PZ99 said:
OK so the ALP is ending some vote buying welfare set up by a previous conservative Govt.

Don't expect much sympathy from me :rolleyes:

Why should you get a refund if you don't pay tax?
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Because my threshold is not eligible for taxation, but the company was obliged to give my money to the govt?
PZ99 said:
They're not giving your money to the Govt.
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How so? Is it not sent by the companies to govt?
 
PZ99 said:
Not that I know of.

The company pays the 30% to the ATO and you get the franking credits. No change there.
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So you are splitting hairs between the ATO and Govt. I think you know what I was saying.:rolleyes:
 
Tisme said:
So you are splitting hairs between the ATO and Govt. I think you know what I was saying.:rolleyes:
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I don't know what you're talking about mate. Semantics?

Where does the money collected by the ATO go?
 
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