If you were PM.

If you were PM, what things would you like to see done/changed to drag our Country out of it's current situation.

We are seeing record low interest rates, yet Business is not borrowing in any significant forms...most are shedding jobs and/or not hiring.

A bit of housing activity (mostly Sydney, a little bit in Melb, and not much else elsewhere) despite the record low rates.

Unemployment is on the rise (despite the supposed "stats" and media hype - folks are opting out of looking for work)

Consumer confidence is low, spending is down in a number of areas (Sydney housing notwithstanding)

The deficit is still blowing out - iron ore prices, wages not increasing, higher unemployment, more on the aged pension due to longer lives.

Cost of living is still going up while wages have stagnated - less spending, less tax revenues.

The current Gubb will continue to have probs getting some serious changes through the Senate,

Noone wants to make a hard decision, and the Public don't want any hard decisions to impact their hip pocket.

Aged pension will continue to drain funds as the population age increases post retirement.

And so on.

Please don't turn this thread into a Lib V Lab hate-fest, kids.....
 
Few random ideas:

1. Generous, widely-publicised tax incentives for foreign businesses looking to setup in Australia and employ locals. e.g.: large tax concessions for 10+ years

2. Large reduction in corporate taxes for small to medium businesses. Review and simplify current tax system (e.g.: elimination of payroll tax)

3. Find some solution for the GST loophole of goods less than $1000 purchased o/s. Not sure what to do but it makes it difficult for AU based online businesses to compete.

4. Phased-in restriction of negative gearing to single asset class.

5. Elimination of stamp duty to be replaced by an occupancy tax.

6. Restrict all residential land purchases to citizens
 
If you were PM

(some of these are really state or local government issues but...)

10% pay cut to all public sector salaries (including my own :p)

Quarantine negative gearing (limit deductions to asset class).

Replace stamp duty with land tax.

Tighter foreign investment rules.

Get rid of first home owners grants and concessions.

Do something about increasing Urban Growth Boundaries.

Reduce red tape across the board, for business and planning.

Cut government spending to arts, sports & other 'entertainment' based programs.

Include PPOR in pensions test, perhaps allow pension regardless.

Increase flexibility for small business to hire staff under minimum wage for a training/trial period (with boundaries).

Okay that is day 1, I've probably caused an economic depression at this point... :D
 
Please don't turn this thread into a Lib V Lab hate-fest, kids.....
Easy, because they don't seem to be very different. If you named a current policy from either side, I would have trouble picking which side it came from :p

To solve the economy... well, they say you have to spend money to make money, so perhaps some kind of government investment is required perhaps in the area of infrastructure projects?

The other option is to let the economy decline into a recession. I know this isn't a popular move and the late 80's early 90's recession hurt a lot of people. However, I think the Australian economy generally has been fairly robust since then?
 
Include PPOR in pensions test, perhaps allow pension regardless.
Just on this point - and it probably will apply directly to me in another 11 years....

Many folks work their whole lives and never earn a huge amount, but are lucky enough to have bought a modest house in a decent area 40 years ago, and have seen their PPoR rise in value by a substantial amount over that time.

I saw this when I was at Box Hill back in the 90's - loads of the Golf Club Members were yer older retired blue collar workers, teachers etc. Broke pensioners most of them, but in houses worth a bit.

No other assets to speak of - other than a bit of super, and maybe a handful of shares.

Many suburbs which were once yer "outer ring" are now middle ring and very sought after; hence the property increases..

Personally, I don't think these folks should be penalised for that; I think anyone who gets to retirement age should be eligible, but based on other asset wealth considerations.

It's a tough one, I know.

To me; I reckon good on 'em for contributing all those years, and enjoy your nice house (it may not even be nice anymore - just worth a lot due to location).

For these folks to downgrade to a cheaper house just to increase their pension eligibility is an enormous undertaking, and unfair IMO; getting rid stuff accumulated from years of living in one place, moving away from their life and possibly family and friends etc to a foreign area; very hard work for older folks (anyone for that matter).

I realise some folks downgrade to smaller places after retirement, but what about the folks who don't want to move, or can't?
 
10,000 full time jobs created from 9,500 redundancies?

Doesn't sound like doom and gloom?
Yes, they keep reporting that jobs are being created by the truckload, and that unemployment is dropping.

One of the factors in the drop is how they calculate unemployed - apparently if you are not actively looking, you are not included in the figures; drop in numbers.

In the last couple of years, we have all heard of the myriad of closedowns and job losses - in the thousands, and yet at the same time the word is that very few places are hiring.

If the general climate is one of many redundancies, how is it that there are huge amounts of full time jobs being created?

I would like to know where these full-time jobs are.
 
I know I couldn't do it but the thing I would like to see happen is to abolish the senate, as it stands the true government can't really govern.

I have worked for partnerships and having two bosses is crazy :confused:

There has been a lot in the papers about NZ success, only one parliament, no upper house, no state govs, the government is the government !!!!!!

They sink or swim on their actions without dilution or compromise, the way that most successful companies are run.
 
Local manufacturing should be supported through the tariffs of old,Apprenticeships should be more supported by the government in getting school leavers/1st time employees into the work force, not agencies who are there to cream and suck money from the system.
 
If i were PM - I'd simply apply a sustainable metric to every decision.

Does it promote diversity?
Does it provide an element of future-proofing?
Does it provide a nett benefit to both the smaller community and the wider demographic?

etcetcetc

Because making political decisions at national level is SO easy....
 

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Personally, I don't think these folks should be penalised for that; I think anyone who gets to retirement age should be eligible, but based on other asset wealth considerations.

It's a tough one, I know.

I forgot to finish my thought on that earlier line about PPOR & pensions. My view is that pension paid should be clawed back by government from the estate. So if someone has a pricey PPOR & wants to claim pension, fine, hand over the property title to the government & when you kick the bucket they can sell & take pension paid from proceeds before distributing remainder to beneficiaries.
 
Many folks work their whole lives and never earn a huge amount, but are lucky enough to have bought a modest house in a decent area 40 years ago, and have seen their PPoR rise in value by a substantial amount over that time.
I vehemently disagree. Why should somebody with $2M investments and no PPOR miss out on a pension, and somebody with a $2M PPOR and no investments qualify? That encourages people to over-invest in their PPORs rather than other asset classes.

If they want to stay put, they can reverse mortgage it.

Or I'd even support the government paying them on a pension on the proviso that it's to be repaid from the proceeds of sale of the home once they pass. [Edit: ha ha, hadn't refreshed and seen hobo-jo's post. Clearly we're both brilliant.]

But being able to keep a $2M asset to pass on to their children, whilst the people with $2M in investments have to erode their equity to live on, strikes me as profoundly unfair.
 
A new NBN, one which works. A completely separate system, not beholden to any one interest. Paid for from the government's superannuation investment coffers. It would link every city/town. Provide diverse paths and would never be outdated by the ever changing technologies.

Oh. I meant a National Bicycle Network. :D

*(maybe the current PM could get behind this one).
 
few random point:

Create strong ties (business) with Powerhouse /upcoming economy countries, like India, Pakistan, vietnam, Phillipines, Sri Lanka

More effort bringing back manufacturing industry by creating SEZ (Special Economy Zones) with higher tax incentives to foreign countries

More LCCT airlines, and reduced arrival and depart tax

Invest in early education/Training so more people are educated and trained that they wont meet pension threshold ($850K CPI adujsted) when they retire.
inshort: Try to reduce Monthly Pension bill

Give incentive for Travel and Tourism Industry and Create more man made Attractions.

Strip all luxury give out(if government cuts 1 subsidy from each industry, we will save billions)

Stop being military friends with US and start investing in micro Asian economy.
 
I vehemently disagree. Why should somebody with $2M investments and no PPOR miss out on a pension, and somebody with a $2M PPOR and no investments qualify? That encourages people to over-invest in their PPORs rather than other asset classes.

If they want to stay put, they can reverse mortgage it.

Or I'd even support the government paying them on a pension on the proviso that it's to be repaid from the proceeds of sale of the home once they pass. [Edit: ha ha, hadn't refreshed and seen hobo-jo's post. Clearly we're both brilliant.]

But being able to keep a $2M asset to pass on to their children, whilst the people with $2M in investments have to erode their equity to live on, strikes me as profoundly unfair.


Absolutely.

And on a similar note, why the hell are PPOR exempt from capital gains tax? It's a massive rort. I'd be in on it too I suppose if I lived in Sydney or Melbourne and was well off. Won't change though.

Can someone give a logical reason why a PPOR would be capital gains tax free, when just about anything else isn't? A huge home just sits there doing nothing. A business employs people and creates wealth. A farm grows food. On and on.


See ya's.
 
Can someone give a logical reason why a PPOR would be capital gains tax free, when just about anything else isn't?

Family buys House 1 in Suburb A.
10 years pass and prices have doubled in Suburb A & Suburb B.
Family decides they want to sell their home in Suburb A & buy a different home in Suburb B (prices of the houses are equal).
Suddenly they are up for tax bill of 25% of their homes value (after CGT discount) for no other reason than wanting to move.

Does that seem fair?

Even worse when you consider they can't claim mortgage interest costs against the "gain" like an investor can.
 
Family buys House 1 in Suburb A.
10 years pass and prices have doubled in Suburb A & Suburb B.
Family decides they want to sell their home in Suburb A & buy a different home in Suburb B (prices of the houses are equal).
Suddenly they are up for tax bill of 25% of their homes value (after CGT discount) for no other reason than wanting to move.

Does that seem fair?

Even worse when you consider they can't claim mortgage interest costs against the "gain" like an investor can.


So how is that different if I want to upgrade my farm or business?

Hey, I'm just jealous I don't live in and own a ten million dollar pad in Sydney that I've owned for ages. In other words, I'm not in on it, and am not able to.


See ya's.
 
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I would like to see more people financially independent, self sufficient, people that have a better understanding of their own health and well being and the knowing that they are completely in control of everything.

If I was prime minister, I would like to see less people blaming me for their own personal circumstances, and less people dependent on me for their own well-being.

There is so much more money owned by private individuals that is owned by governments, there is so much abundance and so many opportunities to be explored. Yet people have a mind set that they need to sit there impotent waiting for the government to do something.

If I was prime minister I would develop Independent not codependent people!
 
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