2015-2016 Budget

[The excited One]

So the budget speech by Joe Hockey will start in 7 min and counting

http://www.budget.gov.au/

and this link will reveal the plans for the economy for the next financial year

So what does the community in Somersoft thinks about the budget

 

[VYBerlinaV8]

As a wild prediction, I'd say we'll see a calm, boring budget with few surprises and even fewer tough decisions.

 

[The excited One]

As a wild prediction, I'd say we'll see a calm, boring budget with few surprises and even fewer tough decisions.

well last budget speech Abbott claims there won't be any surprises in the budget and looked what happened next? Everyone was angered by the budget and nearly none of the proposal actually passes through the senate.

note: less than 1 min before speech starts

 

[datto]

Hot off the press.......special "bogan payments" will be introduced. Funds must be spent on ugg boots and fllanno shirts lol

 

[The excited One]

okay try to click the link from OP again, its happening.

 

[Bran]

Great idea.

I can drink wine and watch something else.

Thanks for distilling it for me.

 

[RPI]

At first thoughts I Like

Business $20k Deduction
Startup/Restructure Deduction
Mobile Tech FBT exemption

Don't like
Childcare increases (and I have 5 kids)

 

[jim1964]

Hot off the press.......special "bogan payments" will be introduced. Funds must be spent on ugg boots and fllanno shirts lol

I wear my moccasins in public,does that count.

 

[The excited One]

I wear my moccasins in public,does that count.

yes it does count

 

[Brian84]

At first thoughts I Like

Business $20k Deduction
Startup/Restructure Deduction
Mobile Tech FBT exemption

Don't like
Childcare increases (and I have 5 kids)

I missed the whole budget.
What is the 20k business deduction?
And the restructure deduction?

 

[Jamie_]

I missed the whole budget.
What is the 20k business deduction?
And the restructure deduction?

Just read the transcript.
http://www.budget.gov.au/2015-16/content/speech/html/speech.htm

This link has a quick video which highlights the small business part, quite good really
http://www.perthnow.com.au/business...-the-big-winners/story-fnhnghl5-1227352388187

 

[The excited One]

http://www.abc.net.au/news/2015-05-12/budget-2015-winners-losers/6448578

this has listed the winners and losers of the budget.

 

[datto]

I wear my moccasins in public,does that count.

You're in, Jim

 

[wategos]

Impressed by the decision to cut aid to Indonesia by 40%

Disappointed no change to negative gearing, though didn't expect it really.

 

[Strannik]

so the net result is more debt and a record deficit.

i wonder how lib supporters will spin that

 

[D.T.]

so the net result is more debt and a record deficit.

i wonder how lib supporters will spin that

Its less deficit than previous?

 

[Scott No Mates]

Biggest winner is the low paid child care industry - forcing parents back into the workforce to dump their kids in child care. I detest this one as a retrograde step forcing primary carers out of the house and back into the workforce. It doesn't make financial sense for many parents to head back to work after a kid (sub one year olds cost over $140/day in the CBD), by the time you pay for parking, clothes, meals and loss of quality of life (by not being at home) you are well behind.

The child care industry loves it as there is more demand in an industry which is grossly undersupplied in many of the areas which need it eg CBD/inner city, out of hours/shift workers etc.

 

[Strannik]

Its less deficit than previous?

i'm not sure how $35.1b is less than $29.8b.
must be some sort of lib math

 

[Brady]

Fair bit of foreign aid has been cut.

Also fair bit of $$ lost with iron ore price <

 

[Deltaberry]

My business needs some new iPads.