Australian Politics, Mark II

I had better sell my 50 investment properties while I can still get my capital gains. THEN they can sink. I’m barracking hard for Adani now.

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In the middle of last century, Australia had both federal and state death duties .
Once again, you can blame Queensland (Jo Bjelke Peterson ) for their abolition.
He remove death duties in Queensland, Result? A mass migration of older folk to QLD so they could leave something to their kids rather than do the right thing and leave it to some politicians to spend. They didn’t need much of an excuse. So all the other states were forced to follow suit.
Around that time, Federal Death duties were also abolished, although the state duties were much greater and topped out , as I recall at around 50%
So if you are the beneficiary of money your parents left you, praise be to Jo Bjelke. Otherwise your inheritance might only be about 30% of what it is today.

We were discussing a few weeks back. You thought we could get rid of the states and only have federal government.

My comment was tongue in cheek, I’d reckon it doesn’t look appealing anymore.

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Earlier in the thread, there was push-back against including the home in means testing for the pension. We couldn’t force Ethyl out on the street etc.

All this talk of death taxes has gotten me thinking…how about, if you want the pension, then the government gets to put a caveat on your property. When you die, the property gets sold to pay back what you drew in pension. Thoughts?

Mate your investment properties are in trouble and you might be sitting on negative equity. Theres an oversupply of cheap apartments coming on stream. Can you hold out in the negative equity situation if theres a reduction in immigration and rental income / demand drops. Negative gearing is risky.

Good point. I’m in a bit of a bind as I was relying on the medevac legislation staying in place so I could fill the vacant apartments with “sick” immigrants.

Maybe we could import some axe murderers (only accused, of course) instead.

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That has actually happened for pensioners going into aged care homes. They must sell their home within a set period. Not quite sure how it works, but it somehow offsets the entry fee that non pensioners pay to get into a home.
Howard gave assurance no one would have to do that, but it was changed about 2-3 years ago

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Sheesh. Has QLD Labor had a coronary at the weekends result and now flipped on Adani? Just watching ABC News, it appears so.

Why can’t we just make the GST progressive i.e. marginal? It’s regressive enough as it is with a flat 10%.

How do you do that?

Anyway I think all the discussions on raising taxes misses the point, which imo is what are we raising them for?

Labor didn’t lose because they didn’t sell the taxes, they lost because they didn’t explain what it was going to be used for and why.

I’m definitely politically aware and engaged, I have debated the taxes a lot the last few years, but even I’ve got no idea how it was going to be spent.

I assume it was health, education and real action on climate change. But what the F does that even mean.

Before a party wants more money they better think long and hard about how to sell the tangible benefits of it.

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AP was always going to so that, she’s slime

Make it part of your ITR. You pay the nominal flat rate throughout the year, adjustments up/down are made on your ITR once your taxable income is calculated.

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I don’t think we’re living in the age of explaining tax policy anymore. We’re living in the age of targeted advertising and scaring folks about the other guys.

Cuba or Spain

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Bit late for you nev but I’m sure the public schools might’ve got a bit of a spend under the Big Red Left, maybe even some of the millions given to private schools for their equestrian centres and high altitude chess chambers. Then kids who struggle with spelling, general comprehension, just plain stringing together of sentences that mean anything, would have a chance to blossom into lettered idiots who vote for rich people to rip them off and laugh in their faces. Stay dumb big fella.

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This is great. Always leads to good things.

Well educated slime. Yes, not a salt of the earth shop steward in an engineering factory. Is the ALP losing contact with its “base” or is the base better educated, a product of the ( quasi) universal tertiary education reforms the ALP put in place themselves?

She has degrees in Arts and Laws from the University of Queensland, a Masters of Arts from the University of London (where she was a Chevening Scholar), and a Graduate Diploma of Legal Practice from Australian National University.[6] WIKIPEDIA

Bob Hawke was a Rhodes scholar at Oxford.

For such an overt Christian, he doesnt give two hoots about the sick, infirm or the disabled.
Hypocritical %$#&