carbon tax repeal
- Thread starter D.T.
- Start date
Could take awhile... Double dissolution elections don't happen every day...
And it depends on what it gets replaced with. Reducing carbon emissions costs money and now that money will either come from our other taxes, reduced spending in other areas (which?) or by increasing our credit limit.
Far too early to tell whether it's a good idea until we see what it gets replaced with...
I doubt that you will notice much difference. The cpi changed very little when the tax was introduced. There are other factors that have driven the price of electricity up over the last two regulated pricing periods.
Competition has meant that many businesses haven't passed their costs on to customers. They more likely invested capital to reduce their consumption, absorbed the increases or trimmed costs elsewhere.
Food retailers have reported food price deflation as they screw their suppliers down. If the Aussie dollar eventually falls to previous levels and inflation ticks up then prices will rise by far more than the carbon price component.
For those with loans the interest payment will go up substantially and conversely those with money in the bank might get extra income to cover the price rises.
My last quarterly home bill informed me that I was responsible for 1.3T of carbon emissions.
So I would expect my electricity bills to be 33 cents plus GST a day lower once the tax is dropped.
The saving will be more than wiped out by the increases to my insurance bills that have occurred as insurance companies work to recoup their losses from the spate of natural disasters that have affected Australia recently and the price of petrol increases when the dollar finally falls in the coming years.
Competition has meant that many businesses haven't passed their costs on to customers. They more likely invested capital to reduce their consumption, absorbed the increases or trimmed costs elsewhere.
Food retailers have reported food price deflation as they screw their suppliers down. If the Aussie dollar eventually falls to previous levels and inflation ticks up then prices will rise by far more than the carbon price component.
For those with loans the interest payment will go up substantially and conversely those with money in the bank might get extra income to cover the price rises.
My last quarterly home bill informed me that I was responsible for 1.3T of carbon emissions.
So I would expect my electricity bills to be 33 cents plus GST a day lower once the tax is dropped.
The saving will be more than wiped out by the increases to my insurance bills that have occurred as insurance companies work to recoup their losses from the spate of natural disasters that have affected Australia recently and the price of petrol increases when the dollar finally falls in the coming years.
Australia was showing some real leadership on the environment with the carbon tax.
Now we are going to drop to the back of the pack.
I can't believe a Liberal PM is scrapping a market based system in favour of handing OUR money out for some questionable benefits of the 'Direct Action'
http://www.smh.com.au/business/carb...ding-scheme-analysts-says-20131114-2xhn1.html
Now we are going to drop to the back of the pack.
I can't believe a Liberal PM is scrapping a market based system in favour of handing OUR money out for some questionable benefits of the 'Direct Action'
http://www.smh.com.au/business/carb...ding-scheme-analysts-says-20131114-2xhn1.html
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Slightly off topic, but related to the whole mentality of Global Warming and who caused it and so forth...
On the news the other morning the report was that the Greens were saying the latest Typhoon in the Philippines was caused by Global Warming.
BWAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA!
So, conversely - this should mean that if we can somehow reduce the temp by a degree or two, or three - we can expect to wipe out typhoons altogether?
I mean; will these fools get serious?
Newsflash; typhoons and other fantastic weather anomalies have been around since god's grandfather was a twinkle in the eye.
On the news the other morning the report was that the Greens were saying the latest Typhoon in the Philippines was caused by Global Warming.
BWAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA!
So, conversely - this should mean that if we can somehow reduce the temp by a degree or two, or three - we can expect to wipe out typhoons altogether?
I mean; will these fools get serious?
Newsflash; typhoons and other fantastic weather anomalies have been around since god's grandfather was a twinkle in the eye.
We don't even need to be in the room, let alone show leadership.
The best estimate on an improvement on the world's temp if it all goes to plan with the CT is 1/4000th of a degree this century.
I mean; come on.
BV ocean temperatures increasing directly correlate with increased extreme weather patterns, it is the warming of the air on the ocean surface that causes typhoons, tornadoes etc. This also results in much higher evaporation thus increased flooding during monsoon downpours.
The Co2 levels in the ocean are increasing. The pH around the great barrier reef has dropped by .1, may not seem like allot but it is huge as pH is on a logarithmic scale, also CaCO3 acts as a buffer to pH fluctuations for the pH to drop it means we have put more CO2 into the water that what it can handle. The reef will completely dissolve if the levels drop much further.
I don't like the greens or the alarmists, but the science is we bring buried C02 from underground pump it into the air and it is absorbed by the oceans. It will not end well.
The argument is full of idiots from both sides, when basic science is understood and used it is obvious what is happening
Yep. Agree with all that.
Wasn't the tax free threshold increased to offset any additional costs from the carbon tax?
Will those champing at the bit at the repeal of the carbon tax also demand the tax free threshold get reduced
Wasn't the tax free threshold increased to offset any additional costs from the carbon tax?
Will those champing at the bit at the repeal of the carbon tax also demand the tax free threshold get reduced
IIRC the tax free threshold was raised and at the same time tax rates increased a tad.
This had the effect of putting more money in peoples pockets on payday but less money as a tax refund after completing the tax return at the end of the year.
Also means there are more people that don't need to file a return as their is no refund due if their income is too low to pay income tax.
Incorrect, the effect was to lower taxes for low to middle income earners but if you earned over circa $80k per year then your taxes ended up being the same - effectively not receiving any compensation.
I find it amazing how many people refuse point blank to pay for emission reductions through a carbon tax but seem perfectly happy to pay for the same amount of reductions through their income taxes instead - or putting the bill on the nation's credit card!
I'd hold back on your enthusiasm until it is repealed.
The forces at play who led the former Labor Govt by the nose and installed this legislation as their "pound of flesh" in exchange for their support on the floor of the Parliament haven't gone anywhere just yet.....well, in one chamber they have. One chamber to go.
Up until the 6th of September of this year, the Australian people had been denied the opportunity to have their say on whether they supported the Carbon Tax.
Fortunately, we now definitively know what the view is of the majority of the Australian people on this subject. It took a while, but the people have spoken.
It is now simply a matter of time.
If you have worked hard to get yourself into a position to earn over 80k why should you be financially discriminated against for it?
Save that if you'd run a survey outside polling booths asking people how much better off they'd be as a result of the 'toxic' Carbon Tax being abolished, you'd probably have got answers that are signficantly higher than the actual $1.50 a day (TA's figure), probably more like $50 a year in my case. The idea that without CT life will be transformed is ludicruous, but lots have fallen for it.
And the tax removal has to be paid for in some way, either by increasing(!) the deficit, people losing jobs or higher taxes elsewhere. The hard truth is that there are no free lunches.
Words like "if" and "probably", and all words that follow them don't carry much weight at all.
The majority of Australian people have spoken....their decision was very clear.
Yep. Agree with all that.
Wasn't the tax free threshold increased to offset any additional costs from the carbon tax?
Will those champing at the bit at the repeal of the carbon tax also demand the tax free threshold get reduced
It makes no difference to someone earning $70k plus as the other brackets were increased accordingly
Who is losing jobs? Public servants in the tax department!Climate bureaucracies that do nothing but circle jerk? A lot more jobs would have been lost and will continue to be lost due to the carbon tax operating in the production chain of everything produced in Australia. It's like an inverted tariff penalising anything made in Australia vs overseas. Economically the dumbest tax ever implemented. Doesn't do anything to address Climate change other than symbolism and make us less competitive. The sooner it is gone the better for everyone, if only people could look past the $1.50 in the wallet and consider the economy at a macro level we would be a much better place.
If you want to talk macro, there's just one thing that really matters, and that's the value of the dollar. When I came here from UK I brought my micro software business with me - sales are 99% back to the UK (country-specific product). In 2008 each pound translated into A$2.30, now it's $1.70 and was down below $1.50 a few months ago. On sales of around ?60K each one cent movement in the exchange rate translates into $600, far more than any carbon tax change - x60 over the last five years. And if this is true for my micro-enterprise it's true in spades for larger exporting and import-competing businesses. And unfortunately it's not something governments have much influence over.
Because that is how taxes work.
It should be everyone gets charged the same %, no matter what they make.
But I am an idealist.
I want the world to be fair...and it isn't.
