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What do you want from next weeks budget?

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son of baglimit

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again this year a thread to provide your wishes in this years budget.

unlike past years, its strongly assumed there will be NO niceties about it - all the media coverage suggests something painful in it for everyone - and maybe several things for some.

please make your wishlist a realistic one.

personally id like to see more put into health & disability services.

and a real hike on tobacco - no little $2.50 extra - charge those smelly smokers double for that filthy habit.
 
Re: What do you want from next weeks budget

Agree about health and disability services.

What I would like from this year's Budget is for enough Australians to get hurt so badly that they will never, ever, ever, vote for the ALP again. Not ever. Never.

If that were to happen it would be worth the misery of whatever they dole out next Tuesday.

Just the thought of Swannie delivering it makes me feel nauseated.
 
Re: What do you want from next weeks budget

I agree with tobacco and healthcare

Total scrapping of FHBG

If there has to be scrapping of 30% PHC rebate, scrapping of 1% surcharge if have no PHC.

Scrapping of any funding for climate change science, and put it into renewable energy research.

Education funding increased dramatically

Taxes lifted across the board ( or at the very least allow bracket creep to steal some back ), and the money invested in infrastructure and investments which protect the country's strategic position regarding mining industry and any new technological or scientific development of any worth.

Scrapping of automotive industry subsidies, and the money put into value added endeavours using our resources, with appropriate training and incentive for our steel producers etc to produce locally and using world's best practice.

But then again, I think I would be looking to the future, and not the next election.
 
What I would like from this year's Budget is for enough Australians to get hurt so badly that they will never, ever, ever, vote for the ALP again. Not ever. Never.

If that were to happen it would be worth the misery of whatever they dole out next Tuesday.

Just the thought of Swannie delivering it makes me feel nauseated.
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If this forum had a post of the week winner...it'd be this one!
 
Realistically...id like the people who can afford to pay more...to pay more.

I believe my wish will be granted. :)
 
- Increased taxes on alcohol, tobacco & gambling!!
- Taking over of state run hospital system
- Increased tax free threshold to perhaps 10-12k
- Nationalise public transport infrastructure (I can dream cant I? :p)
- Increased spending in infrastructure projects (more jobs)
- Increased Education Refund Scheme - for Uni students aswell as primary/secondary: i dont mind if its means tested for uni students... (more free laptops for mee!!)
- Carbon Emissions Trading (very doubtful though... i know its been scrapped)
 
I want Swan to hire some of Turnbull's old bumchums at Goldman Sachs to help fudge the figures. :cautious:
 
I want K Rudd and W Swan to admit they have NFI what is going on and that they have made the decision to step down.

Of course that will not happen and we will see an increase in tax a decrease in service with a heap of spin so that K Rudd and W Swan can say its not that bad
 
Mr J said:
Introduce a flat tax rate, cut most welfare, minimise government.
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Hmm... not to sure cutting most welfare will fix anything besides reducing the deficit!! What do you think will happen to all those people that are dependent on it?? I don't think a flat tax will be appealing to many people either... especially the lower income earners who'd think the rich should pay more.

Minimize govt? how so?
 
Get rid of negative gearing; get rid of the silly first home buyers grant.

Investor interest in property will subside; property values may collapse making it more affordable to first home buyers.

I know that when I was too young to remember negative gearing was scrapped causing a shortage in rentals so I’m interested to hear what you guys think, i suspect this time it may be different.
 
cutz said:
Get rid of negative gearing; get rid of the silly first home buyers grant.

Investor interest in property will subside; property values may collapse making it more affordable to first home buyers.

I know that when I was too young to remember negative gearing was scrapped causing a shortage in rentals so I’m interested to hear what you guys think, i suspect this time it may be different.
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Why do you think it would be different this time?
There is a shortage of rental property, at least in Qld.
What would happen to all the renters if IP was not an attractive proposition?
 
Hi Julia,

I’m no property expert, stocks have been my passion from a young age but down here in Melbourne there seems to be anecdotal evidence of the rental market easing up due to the huge surge in developments, my view is if the negative gearing was pulled along with the buyers grant it will cause a huge correction in the housing market allowing traditional renters a foot in the door of ownership if they so desire.

I also harbor a small amount of resentment in a system that rewards tax dodge techniques; I could never see the point of paying extra interest (to the banks) taking on huge risk in order to take away tax revenue (from society).
 
cutz said:
Hi Julia,

I’m no property expert, stocks have been my passion from a young age but down here in Melbourne there seems to be anecdotal evidence of the rental market easing up due to the huge surge in developments, my view is if the negative gearing was pulled along with the buyers grant it will cause a huge correction in the housing market allowing traditional renters a foot in the door of ownership if they so desire.

I also harbor a small amount of resentment in a system that rewards tax dodge techniques; I could never see the point of paying extra interest (to the banks) taking on huge risk in order to take away tax revenue (from society).
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Hmm... a complete removal of the buyers grant and neg gearing will almost kill the construction industry, leading to industry and investor backlash, i seriously doubt the govt would even consider something like that in this current economic climate. And dont the buyers grant help out the 'traditional renters' in buying a home?!?!

Negative gearing for property is not exactly a tax dodge technique... how is it any different from tax deducting the interest from margin lending??
 
jono1887 said:
Hmm... a complete removal of the buyers grant and neg gearing will almost kill the construction industry, leading to industry and investor backlash, i seriously doubt the govt would even consider something like that in this current economic climate. And dont the buyers grant help out the 'traditional renters' in buying a home?!?!
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It's hard to say, a pulling of the grant and negative gearing may cause a collapse in property values, renters may see it as an opportunity to get in taking up the slack, just an idea, who knows what the fallout would be in that situation, everybody would have their own take.



jono1887 said:
Negative gearing for property is not exactly a tax dodge technique... how is it any different from tax deducting the interest from margin lending??
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Borrowing to the extent that negative gearing is achieved effectively cancelling out tax obligations, just check out the Storm saga on typical examples of excess gearing and why its not ideal.

Generally people that are negatively geared are motivated by avoiding taxes, who knows why :confused:

Sorry getting off track here, back to the budget.
 
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