Good luck getting these tax changes through Parliament of either persuasion…particularly the inheritance tax.
Not worth even discussing in my opinion.
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Yep. I don’t think Woolies is a good example here. The miners and tech giants on the other hand…
I think there needs to be changes in superannuation rather than the other stuff
- reduce the 1.6million cap to 1 million on funds in pension phase
i.e 1 million in Assets tax free if pension phase
Then If Assets over $1 million 15% tax on all earnings of fund
Then for funds with more than $2 million Assets tax on all earnings of 30%
Almost effectively wiping out shortens franking credit problem.
People can still choose to put more money into their own names kids etc - but more likely be taxed somewhere, would encourage people topping up wifes super accounts etc.
not huge incentive to put more than 2 million in super unless you have a high personal rate
catch all the filthy rich bastards ripping out franking credits.
Kristina Keneally getting a promotion and pay rise to Deputy Senate Leader?
WTAF?
Is there anybody outside of her immediate family that actually likes her?
Or inherit more betterer stuff.
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She is a top Parliamentary performer and was brilliant on the Pell wash up
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I don’t recall that happening but you may be closer to the action than I am. Are you saying that A Albanese undermined W Shorten and Labor’s chances by leaking information to the media?
I agree HD - we do need to be smarter in how we do things. It would be nicer for our children and grandchildren to breathe clean air and swim in un-polluted oceans. It should be just sensible and smart decisions with this in mind that drives us - not goals to reduce emissions by some arbitary figure.
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No doubt in my mind Albo got the sniff of a spill and tried to do a job on Bill. Shorten had United the group way too much for it yo happen and Albo won no friends. He is not well liked in Caucus.
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Not leaking information, but destabilising the leadership.
Albanese can be all things to all people although holding wider electoral appeal than Bowen.
Although Bowen is now out of the race, the likes of him Chalmers and Burke should be able to contain too much of a descent into populism.
Labor’ s economic proposals have been rejected, but the economy is in trouble and the government has no policies. Frydenberg a lightweight Treasurer.
Okay. It’s not a tax on gross sales. Costs are taken into account.
So how does that get lots of extra tax from a multinational company, let’s call it Microsoft Australia for argument’s sake, that sells a product called Windows for say $500, which it’s bought from another company called Microsoft Bahamas for $490? Profit is $10. You’re not going to get much tax out of $10 profit.
And yes, Woolies made a profit of $1 billion. That’s a lot of money. It made that profit on sales of $55 billion (2017). That’s less than 2%. Doesn’t seem excessive to me. And how many people are they employing? How much capital has been invested? How many builders, tradies, truckies, etc., make their living out off the back of those sales?
I explained this earlier.
Thanks to ScoMo winning the election, some venues are putting on free VB on Sunday between 2-4PM.
That ■■■■ can ■■■■ the ■■■■ off. ■■■■■■■ bread and circus bullshit.
Hahahahahaha
ABC predicting absolute majority of 78, making the 6 independents totally impotent. There won’t be any Windsor /Oakshott shenanigans in this Parliament. The independents may as well go and have a holiday in the Philippines for 3 years, but no doubt they will be used to bolster the numbers on some irrelevant committees to keep them in Canberra.
Of course if a couple of Coalition MHRs drop dead, things might get interesting.
I’m asking what you mean by cash flow. That’s a term that can be defined any way you like. Is it revenue minus cost of sales? Or what?
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No, it can’t. ‘Cash flow’ is clearly defined & I have tried to explain it to you several times, but you keep confusing it with revenue & profit. Pull out any annual report of a company & look up ‘Statement of Cash Flows’ & you will understand better. It’s a separate statement from the P&L.
I know what the statement of cash flows says. What I’m saying to you is that taxing net cash flow is not going to do a damn thing about companies like the hypothetical Microsoft Australia I described above. They make very little profit and they have very small net cash inflow as well.
I must say that I am blown away by the fantastic ideas from the politics thread on blitz today. You guys must get in Albo’s ear - He’ll love it:
- Death tax.
- Killing rich people.
- A CFT tax will bring $40-$50 billion into the economy. No doubt the corporations and their shareholders will suck it up and not on charge their customers.
- Cripple Australian industry and power costs because we must be a leader despite making virtually zero difference.
Keep it up. Your views are not extreme at all and the Australian voters will LOVE it!
Of ■■■■. I just realized I’m having an opposite day.