2015-2016 Budget

[Strannik]

well for once it's missing a key broken promise of being a government that will not break promises. secondly i don't see a broken promise of surpluses every year. so that makes it even.

the ones they have completed mostly relate to either unwinding labor policies, or investigating labor govt actions. i hope at some point they stop doing it and get on with doing something real.

now if you could back up your words about Rudd with similar graph, we could see if it's true or not

 

[D.T.]

Be less jaded mate, its not good for your health

 

[perthguy]

now if you could back up your words about Rudd with similar graph, we could see if it's true or not

I agree. It is a shame that abc didn't run promise tracker on Rudd the dudd. But they aren't biased

Off the top of my head: fuelwatch, grocery watch, GP super clinics, dental care, border protection, a laptop for every student, Japanese whaling, alcopops, medicare, houses for aboriginals, ratifying kyoto, action on global warming, henry tax review, 'no child in poverty... no wait, that was Hawke.

I forget the rest. Here is a list that someone else compiled:

http://www.topix.com/forum/world/australia/TSHSH72VHE177QCQE#!

I forgot the best one of all... 'cash for clunkers', which they stole from the U.S. It's ironic because it was a failure in the U.S.

Anyway here is a list of 41, with some duplication with the previous list:

http://www.tonyabbottexposed.com/gillardrudd-record/

To be honest, between Rudd and Gillard, I would struggle to be able to identify who did what. Those two just sort of merged together when it came to implementing stupid policies. For example, who reduced the low income superannuation co-contribution by $500. Correct answer: both Rudd and Gillard did. Why neo-progressives would take money off "the working poor" baffles me to this day. Who made it more expensive for uni student to pay their fees and for graduates to pay back government loans (HECS, PELS and FEE-HELP). No idea, but if you had asked me that cold, I would have sworn it would have been a Liberal Government but no, it all happened under Labor. How much do I not miss that?

 

[Francesco]

Labor impresses me very much with the largess it gave one and sundry during the GFC.

Spending was the standard strategic policy every government should take to counter the GFC. The only problem is that Labor managed to show great incompetence in carrying it out.

Freebies were handed out.

Free pink batts - lots of wastage, installed and de-installed, deaths, $b in budget deficits

$800 widely available - including UK tourists (thanks Oz, such generosity!), $b again

$8000 solar rebates - Those with less than $100k income gets free solar panel system and continue to collect feed-in tariffs, $b again. Redistribution at its best.

There were other poorly managed programs like rushing out building construction in schools. But the one that takes the cake is inept handling of maritime asylum seeker. It was practically a loss of sovereignty - smugglers were driving the agenda. $11 billion loss and the federal bureaucracy was stretched to administer the issue.

What model of financial competency did the Labor govt demonstrate?

 

[The excited One]

Easily settled with facts. Now, we know the ABC isn't pro the Abbott government

Promise Tracker: The Abbott Government's 2013 election commitments

Overview: 16 delivered, 14 broken, 41 in progress.

http://www.abc.net.au/news/factcheck/promisetracker/

The fact is that they have delivered on more election promises than broken promises.

Can you say the same about Rudd? I don't think so.

Does that justify ABC's ultimate privatization to ensure their views are 'fair and balanced? Oh and purging all reporters and replace with more "experienced" ones.

 

[Arnoldus]

Easily settled with facts. Now, we know the ABC isn't pro the Abbott government

Promise Tracker: The Abbott Government's 2013 election commitments

Overview: 16 delivered, 14 broken, 41 in progress.

http://www.abc.net.au/news/factcheck/promisetracker/

The fact is that they have delivered on more election promises than broken promises.

Can you say the same about Rudd? I don't think so.

I think a fairer benchmark for the Abbott gov would be 1996-era John Howard. When you put them side by side you begin to realise what a dud government we've elected, not that we were spoilt for choice this time around.

 

[Ed Barton]

I don't want to turn this into a Lib/Lab slug fest

But you will and you have.

 

[perthguy]

I think a fairer benchmark for the Abbott gov would be 1996-era John Howard. When you put them side by side you begin to realise what a dud government we've elected, not that we were spoilt for choice this time around.

They do seem pretty bad. I won't say they are not. So far though they don't seem to be worse the Rudd/Gillard/Rudd. Those three did more to offend me than this lot so far.

 

[BayView]

Brian
It's encouraging businesses to spend. Businesses spending is great for the economy. Previously, items of this nature had to be depreciated over a number of years, but now are deductible in one shot. It isn't a once off, it's as much as you want.

Businesses are already considering the things they could buy or upgrade. This means a direct improvement in their own business, but also revenue for the place they brought it from, staff to operate it, service it, etc. In theory, those people also do some spending and snowball effect is that economy is healthy again.

Contrast this to the unimaginative bunch who gave everyone $900. Goes no where near as far as the above. Most of it probably didn't even end up back in the Australian economy.

One thing they haven't factored in with this $20k one-off depreciation - the business needs to be operating with a decent profit to have a decent enough tax bill to claim against the $20k they spend.

In many small businesses; cashflow is always an issue, so if their cashflow is tight, and profit is low each year; they can't go out and simply spend $20k on anything...

Or; they might to very fearful of doing it in case something happens and they are struggling to make the extra repayments.

You still need to come up with the repayments to pay back the $20k from week one, and carry that until the tax return.

It's not a $20k handout.

 

[BayView]

But you will and you have.

LOL.

That happened way back in post 15.

 

[BayView]

Does that justify ABC's ultimate privatization to ensure their views are 'fair and balanced? Oh and purging all reporters and replace with more "experienced" ones.

Anyone at ABC who is experienced is Left - the LIbs either leave or are pushed.

 

[VYBerlinaV8]

Yes. See the comments below yours. Let's tax anyone without a vote 100%!

So let's be clear.

You're happy to people to come here from other countries for a holiday, take jobs that would typically be done by Australia's young people and lower income earners, and pay no tax?

Based on how much working backpackers earn, that is the current situation.

 

[topcropper]

So let's be clear.

You're happy to people to come here from other countries for a holiday, take jobs that would typically be done by Australia's young people and lower income earners, and pay no tax?

Based on how much working backpackers earn, that is the current situation.

You've got a point? However young Aussies won't do the work backpackers do. The locals won't, and neither will people travel from the cities. It's just a fact. They would rather get the dole than pick fruit and veges. And the effective tax rate for anyone earning less than $18,000 is zero anyway, so by backpackers paying no tax it was only keeping it all on the same playing field as the locals anyway.


See ya's.

 

[VYBerlinaV8]

well for once it's missing a key broken promise of being a government that will not break promises. secondly i don't see a broken promise of surpluses every year. so that makes it even.

the ones they have completed mostly relate to either unwinding labor policies, or investigating labor govt actions. i hope at some point they stop doing it and get on with doing something real.

now if you could back up your words about Rudd with similar graph, we could see if it's true or not

The current crop are nothing special, that's for sure. But they're far better than the last lot. The previous govt couldn't even agree on a leader, spent like drunken sailors and didn't achieve anything anyway.

 

[VYBerlinaV8]

You've got a point? However young Aussies won't do the work backpackers do. The locals won't, and neither will people travel from the cities. It's just a fact. They would rather get the dole than pick fruit and veges. And the effective tax rate for anyone earning less than $18,000 is zero anyway, so by backpackers paying no tax it was only keeping it all on the same playing field as the locals anyway.


See ya's.

Yeah ok, fair point.

How much backpacker work would you say is above board, though? Much cash in hand work, or is not really worth it for farmers now?

 

[topcropper]

Yeah ok, fair point.

How much backpacker work would you say is above board, though? Much cash in hand work, or is not really worth it for farmers now?

I'm not really sure but I'd imagine there would be cash work going on just like in other industrys. I'm pretty sure all the big operations would be above board, as if you are big, you are a target.

The fact is that backpackers are essential for a lot of rural towns and industries. Any local with a bit of go about em already have a good job or have moved to the city. The bludgers don't and won't work. If a bludger gets sent to a farm to work by centrelink, they are useless, probably on purpose. The farmer sacks them and they go back to town and get the dole again. Or better still, do ya back in, borrow a walking stick and learn to limp, get on a disability pension, put wife on disability carers pension, happy days!

Backpackers are achievers! They have already worked and earnt money in their home country, they come to Australia for a big adventure, and work hard because they have to, to survive. Much like the young Aussies who go overseas to backpack and work, they are achievers too, as the useless Aussies just stay at home and do nothing.

I don't employ backpackers, but then I don't employ anyone.


See ya's.

 

[moyjos]

One thing they haven't factored in with this $20k one-off depreciation - the business needs to be operating with a decent profit to have a decent enough tax bill to claim against the $20k they spend.

In many small businesses; cashflow is always an issue, so if their cashflow is tight, and profit is low each year; they can't go out and simply spend $20k on anything...

Or; they might to very fearful of doing it in case something happens and they are struggling to make the extra repayments.

You still need to come up with the repayments to pay back the $20k from week one, and carry that until the tax return.

It's not a $20k handout.

This is a good point. $20k write off is not going to make me run out and buy anything new. I will however be VERY excited if I can write off the Utes sitting on the depreciation schedule now. Any savings here will be used to pay down debt.

The spin off from that will see a freeing up of cash being paid in interest. In real terms, the monthly interest saving translates in one extra days wage.

Now.. While one extra days wage does not sound like much, it will be when I plug that one extra day into a sales rep to find more clients, it has the potential to build the business.

All of these plans are in place now, but a cash injection used correctly will speed thing up by at least 12 - 18 months.