Australian Politics, Mark II

Meh…so was Tony Abbott. It’s just a way for the big end of town to build up credits for later on.

For example, Dyson Heyden was on the panel that awarded Abbott his scholarship, the same Dyson Heyden that was hand picked by Abbott to lead the Royal Commission into the trade union movement.

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The big end of town is now dominated by multinational corporations and children of emigrants who mostly came here under the post war immigration programs and the multiculturalism of Al Grassby. Every generation the fortunes of some rich are lost and some are made. Of course some dynasties are created, like Packers, Pratts etc, but the fortunes are usually watered down through multiple inheritances, divorces, progeny and tax.

For example Pratt died, and split his fortune about 4 ways. Eventually Pratts company will probably be sold to a multinational company and the money will be split 8-16 ways.

You probably have more to fear from multinational corporations than members of the Melbourne Club.

And Angus Taylor.

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to pay pensions lol and fund health and education.

my issue is really only superannuation. and rich blokes getting tax free pension and franking credits.

If anything I would lower individual rates and keep company rates @ 30%

Having lower rates in companies gets people to keep cash in companies rather than pay dividends out to themselves and then spend it.

Would make it like
0-20,000 NIl
20000-100000 20%
100,000-250,000 30% same as company rates.
over 250K 45%

Who wouldn’t vote to receive $22k?

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If you’re poor and sick you aren’t working hard enough or in the right way, or barracking for the right team/religion/political group, thus god has not rewarded you with health and wealth. Luckily all that can change if you give us your credit card details and show some good old aspiration. That is the gospel according to the fresh new Pentecostal movement. Happy clappers.

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did he think the killing rich people thing was real? yikes.

It’s funny how no one has ever said anything about the Libs trying desperately to lower the tax rate on all companies, and therefore deprive struggling pensioners of part of their God-appointed franking credits.

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Do you think it’s not??

lel. i asked for that.

how much do you earn?

On the surface of it, they’d have more funds available for higher dividends…or…more likely, higher executive pay.

The Trump tax cuts were overwhelmingly used for share buy backs in the States. Something similar here would happen.

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I loathe those farkers.

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Had an interesting conversation today where they said the franking credits has got nothing to do with pensioners but more to do with rich lawyer/doctors/accountants wife’s.

The husband(yes not allways) earns $1 mill a year, which is more than enough for the wife to be stay at home if she wants. Thus her income is zero. Put all the shares in the wife’s name and you will get all the franking credits back as a tax refund.

Not 100% sure it’s correct, but geez that’s a huge rort that needs to be fixed and got reported on terribly by all parties.

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Japan! @JohnRain

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Slight adjustments for you.

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There was an argument to be made that the cost to taxpayers could soon overtake the cost of the pension.

So we’re scrapping the Govt refund on franking and increasing base pensions instead.

Done

I didn’t really understand franking credits or how they worked and never sought to, but to me it was pretty obvious this is what they were going after.

Instead we got Kerri-Anne fkn Kennerley spewing out a Logie-worthy whinge and everyone somehow fkng thought she represented their interests.

Less than the median

After tax? Before tax? :smiley:

  • super? C***s