Talking Politics

[DavidSSS]

MrPoshman, I certainly do understand inheritance taxes.

I'm in 2 minds about principal place of residence being included or not, but with home ownership now becoming an unattainable dream for anyone on anything like median incomes, I see no problem in taxing an inheritance. If you can't pay 10% tax on the house you inherit then you have to sell it or borrow against it. This is the very point, taxing those with wealth to reduce wealth inequality.

You want simple, fine, simple: 10% of the value of the estate over $1million; 20% of the value of the estate over $5million and 40% of the value of the estate over $10million. No rebates, no deductions, no complications.

Let's also have a wealth tax while we are at it. Capital gains tax having a discount on tax rates can go too - you make money you pay tax. Maybe capital gains should be taxed at a higher rate given you do no work to get the capital gain.

DS

 

[MD Jazz]

The most logical things to do in the personal income tax space are changes to negative gearing, capital gains tax and cash rebates of franking credits.
Sound familiar?
That's what politics does to block sensible tax reform and it is a massive shame.
It is one of the reasons that I wanted a minority ALP government. These things could be pushed by the cross bench with a degree of power. I don't think the ALP will have the political courage to revisit them because there is no way the LNP wouldn't exploit it.
There is also much to in the international tax space, clamping down on trusts ( which is already happening within the current laws) and properly pricing our resources which in the end belong to us.

Yeh, they've gotta have another crack at it IMO.

 

[spook]

Maybe I've had my head in the sand....but my wife got covid yesterday (nurse).
Has no leave left.

But can't get covid pay as it finished 2 weeks ago.

She has been working six day week on a measly 24 pH the last few months now has to have 7 days isolation without pay.
F this state.

11 000 cases today.
Is this the reason the payments stopped?

Yeah, that's not good enough, Bunnerz. Covid pay for health workers should have no limits.

 

[Bunnerz]

Agree.
They are saying 1 in 5 Vic's will get covid in the next 6 weeks.

I try and stick to football.
Finals could be very interesting.

 

[tigersnake]

MrPoshman, I certainly do understand inheritance taxes.

I'm in 2 minds about principal place of residence being included or not, but with home ownership now becoming an unattainable dream for anyone on anything like median incomes, I see no problem in taxing an inheritance. If you can't pay 10% tax on the house you inherit then you have to sell it or borrow against it. This is the very point, taxing those with wealth to reduce wealth inequality.

You want simple, fine, simple: 10% of the value of the estate over $1million; 20% of the value of the estate over $5million and 40% of the value of the estate over $10million. No rebates, no deductions, no complications.

Let's also have a wealth tax while we are at it. Capital gains tax having a discount on tax rates can go too - you make money you pay tax. Maybe capital gains should be taxed at a higher rate given you do no work to get the capital gain.

DS

excluding the principle place of residence open ended is crazy. Excluded up to the median house price? Double the median? Whatever, but put a reasonable cap on it. Lindsay Fox's principle place of residence is worth $50 mill. The way it is now, the richer you are, the bigger the tax break.

 

[Sintiger]

Maybe I've had my head in the sand....but my wife got covid yesterday (nurse).
Has no leave left.

But can't get covid pay as it finished 2 weeks ago.

She has been working six day week on a measly 24 pH the last few months now has to have 7 days isolation without pay.
F this state.

11 000 cases today.
Is this the reason the payments stopped?

If you don’t mind me asking Bunnerz which hospital does she work at?

 

[Bunnerz]

I won't say due confidential *smile* that I signed when she started.

Western Suburbs of Melbourne.

Been working her ass off for months.
Now her time has come with covid (she's pretty unwell)
And gets told she gets 7 days off without pay.

 

[AngryAnt]

I won't say due confidential *smile* that I signed when she started.

Western Suburbs of Melbourne.

Been working her ass off for months.
Now her time has come with covid (she's pretty unwell)
And gets told she gets 7 days off without pay.

doesn't she have any sick leave?

 

[Bunnerz]

No mate. Only gets 10 days.
All used up on kids in first two terms of this year.

Where I live atm, every 4th or 5th person has covid.

People walking around coughing and splattering everywhere.

Very noticeable.

Not sure what the answer is.
Whatever Government does people will do opposite now. That's their worry.

 

[IanG]

Whatever Government does people will do opposite now. That's their worry.

Yes this is the issue and why the government isn't increasing restrictions. I personally would like increased mask mandates and fail to see why people get up in arms about that.

 

[MD Jazz]

Yes this is the issue and why the government isn't increasing restrictions. I personally would like increased mask mandates and fail to see why people get up in arms about that.

Disappointing that re-election is prioritised over health. Difficult position for the government but they aren't really any different to the other side when it comes to decision making running up to an election.

 

[MD Jazz]

No mate. Only gets 10 days.
All used up on kids in first two terms of this year.

Where I live atm, every 4th or 5th person has covid.

People walking around coughing and splattering everywhere.

Very noticeable.

Not sure what the answer is.
Whatever Government does people will do opposite now. That's their worry.

Yeh, empathise with your plight.

I have a relative in NT in police force who has cancer and is undergoing chemo, they get unlimited sick leave on full pay!

 

[Ian4]

They are saying 1 in 5 Vic's will get covid in the next 6 weeks.

who is "they?" and where is your source?

 

[TigerMasochist]

I personally would like increased mask mandates and fail to see why people get up in arms about that.

Probably because they spent two years sitting at home, losing jobs, losing businesses, losing life styles, wearing face nappies, getting jabs n more jabs n boosters n still there's thousands of people getting covid every day n the same heads are gibbering the same message every day about how everyone will be saved from covid.
Just a constantly rotating pile of steaming *smile* n most people are thoroughly jack of it n have gone back to living their lives as best they can regardless.

 

[Ridley]

Yes this is the issue and why the government isn't increasing restrictions.

Election in November.

 

[Ian4]

Yes this is the issue and why the government isn't increasing restrictions. I personally would like increased mask mandates and fail to see why people get up in arms about that.

The problem is that people will still ignore it. there was much less compliance during the 2021 lockdown v 2020. And towards the end of the 2021 lockdown, people were sick of it and ignoring all of the rules.

What we need is some type of promotional campaign pushing the virtues of mask wearing. Try to eradicate the stigma of it.

Election in November.

I get why some people might think that, but if the upcoming was the election was the reason, why did they just extend the pandemic legislation for 3 more months? It gives them the power to re-introduce restrictions if necessary.

 

[AngryAnt]

No mate. Only gets 10 days.
All used up on kids in first two terms of this year.

Where I live atm, every 4th or 5th person has covid.

People walking around coughing and splattering everywhere.

Very noticeable.

Not sure what the answer is.
Whatever Government does people will do opposite now. That's their worry.

Oh, yeah that's tough Bunnerz. One in my household has the spicey cough right now.

I think if you are immunocompromised or vulnerable you are in a tough spot, but wear masks and stuff what others think.

 

[Ridley]

I get why some people might think that, but if the upcoming was the election was the reason, why did they just extend the pandemic legislation for 3 more months? It gives them the power to re-introduce restrictions if necessary.

Most people wouldn't even know the pandemic legislation was extended. But they will know if mask mandates and other things are reintroduced and Dan knows that will create a backlash against him. He has spent the past two years telling us that all he is doing is following the health advice and now all of a sudden he is ignoring it? With an election 4 months away? Coincidence much? It is naive or biased to think that this decision is not in some way politically motivated.

I don't like a mask mandate but completely understand why they are put in place and would abide if it was reintroduced. I have already gone back to wearing them in indoor public spaces where it is difficult to get physical distance.

 

[Redford]

Most people wouldn't even know the pandemic legislation was extended. But they will know if mask mandates and other things are reintroduced and Dan knows that will create a backlash against him. He has spent the past two years telling us that all he is doing is following the health advice and now all of a sudden he is ignoring it? With an election 4 months away? Coincidence much? It is naive or biased to think that this decision is not in some way politically motivated.

I don't like a mask mandate but completely understand why they are put in place and would abide if it was reintroduced. I have already gone back to wearing them in indoor public spaces where it is difficult to get physical distance.

You will never hear me say this again, but I agree with Chimpley.

Andrews has taken the self preservation route at the expense of public health and safety. No two ways about it. Disgraceful. At least NZ's PM isn't so gutless.

Hitting 12,000 cases a day in Victoria. 771 cases in hospital. Elective surgeries being delayed etc. and the worst apparently, still yet to come. I mean c'mon.

 

[ceehook2]

It all began with Howard and Costello's bringing in a First Home Buyers Grant.


"Australian governments spent more than $20.5 billion on first home buyer help in the past decade, which made housing affordability worse by driving up property prices and left existing homeowners richer, new research found."

“It’s worse than a waste [of money]. It’s money that has gone into making a problem worse … and it ends up going into inflating home values,”

"To give some sense of the scale of the money spent, the report said the $20.5 billion could have funded 60,000 social housing dwellings, or alternatively, 137,000 shared-equity dwellings."

Governments spent $20.5b on first home buyer help that pushes up prices: report

Stamp duty concessions and cash grants have made housing affordability worse by increasing the amount home buyers pay to home sellers, the report author said.

www.watoday.com.au

heard a good interview on ABC radio on the topic , it might have been the guy from Access economics but don't hold me to it
he quickly rattled off the different initiatives and schemes that have been used by both sides of politics
and it was along the lines of it you give first home buyers grants or stamp duty relief or similar it heats the market

while something like the old NRAS scheme encourages the building of new , modest dwellings and helps balance out the supply and demand thing

he pretty much labelled the efforts from both sides as simple knee jerk and vote buying policies