#no one can claim interest on more than one investment property
(that puts some rental properties potentially onto the market if they are negative geared. But they would more likely re structure.
potentially solves some of the banking problems as some of these investors may have overstretched
Or has rich people buying them in wives names or adult kids names.
or people owning properties in Trust or Companies, and potentially losing some CGT concessions?
Most of all the average joe could understand the policy.
#Cap on tax refund from franking credits to $20,000
Shorten - Anyone who receives a franking credit refund in super will now be limited to $20,000 this is aimed at the wealthy individuals and we are protecting australians who have put aside for their retirement. The pension scheme is too generous and this is a simple measure to claw some $$ back.
Average punter - doesnt lose any franking credits, probably doesnt understand policy but knows its targeted at rich so votes for Bill
# go after multinationals like Apple
# will use tax savings to invest in schools, hospitals, NBN and the environment
simple -gets to electorate main concerns
#no change to accounting fee deductions for indiviuals, not a policy
but say they are happy that accountants work within the industry and support lodgement of tax returns etc.
P.S. The maths on this is pretty shonky. IIRC the average dividend on the Australian stock market is around 4.3%. If your selection of stocks is ALL fully franked, you get around 1.3% extra from imputation.
In reality anyone with 1.6 million in fully franked stocks likely has that much more in other things (e.g. international stocks, bonds, cash, property etc). Bad risk profile otherwise.
Remember that all of the above assumed the person is paying zero tax. Which is a neat trick given just one million earns them $43k in dividends, or $25k over the tax-free threshold.
And then they may have a partner with similar assets. Iām struggling to feel sympathy for that particular person.
Inner eastern suburbs swung to labor. Outer western suburbs swung to liberals.
I reckon that flips thisāvoting for self interestā idea on its head. Because call me crazy, but I reckon the people most likely to have multiple property investments and share portfolios live inner east.
The wealthy voted against self interest(well more than usual). But the poorest electorates in the country generally voted for rich people to keep their tax concessions.
By the way, I work as a pollster, mainly in regional areas. The nationally reported polls did not ever have much correlation with what folks were telling me.
Thatās my observation too.
There are plenty of wealthy urbanites with a conscience who canāt stomach right wing social politics.
And on the other hand, there is a swing to the (hard) right among the ābattlersā. Its our Trump / Brexit moment I tells ya.
Yes and I know pretty well why your SL Mates preferred Bill over a genuine Left-winger. No one says Albo is perfect ā he can be devious enough himself, but then have you compared his record with Billās ? Albo, despite his failings, has never been a king- and queen-maker (and breaker).
Billās gone: itās time to back Albo, mate ā or do you really want to see the NSW Right take complete control of the Party ? Because thatās what youāll get if Chris Bowen, chief book-keeper of the failed Labor proposals, gets the job. Iāve met Bowen on several occasions: heās a good bloke to talk to, very straightforward, and easy to get on with, as long as you agree with everything he says. Iāve no problem with having a hard man as leader, provided heās from the Left of the Party, and not from the NSW Right, like Bowen.
Ged Kearney for Leader ?? Now thereās an idea I fully support ! Letās hope she can be persuaded to put herself forward. My God, thereād be some big celebrations in The Clyde if she won it !