Good post.
Just needed context.
Now doubt the use of terms in accountancy reporting can be rubbery as well.
Income is usually referred in a P&L as all the revenue from the accountancy period meaning every dollar received , but then terms like gross income and nett income as used, sometimes in place of gross profit and nett profit.
Accountants do this on purpose to confuse their clients into paying more fees.
Perhaps we should take our lead from the Yanks, who call their Tax Office, Internal Revenue.
That said, Mining Companies run shonky books, and are able to manipulative them to put many capital costs into operational expenses for tax purposes and then withdraw them into assets for reporting to the stock exchange. Every year I look at the tax returns our Accountant sends to the ATO for my business and feel very confused.
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Genuine question (ha!), has any senator ever split from one of the 3.5 parties, and sustained a seat for more than 1 or 2 elections?
I suspect youâre way more reliant on preferences in senate than lower house.
I see no reason it canât just have a tax free threshold, to protect those at the bottom end.
The biggest scam in Australia.
News Corp had an operating loss in 2016/2017.
Bob Katter is the obvious one.
Wow.
How terrible are they at business.
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Madigan did from the DLP who were always preferenced by Libs and Nats. He ran at last election as an Independent and got no-where.
Back in the 1990s before the Federal Government paid part of our Private Health Insurance, the waiting lists at Public Hospitals was much smaller. Once more people moved to the Private system, so did the resources and the waiting lists in Public, grew and grew.
Compare Canada and USA; it is frightening to see where we are heading.
Weâll all pay for company and other tax cuts
Every person in Australia will have to pay for the governmentâs proposed company tax cuts being discussed in Parliament today.
Dr Cassandra Goldie, CEO of ACOSS, says âAny economic gains from cutting company taxes are decades away, while the cost of the cuts will be felt immediately, from $1.8 billion in 2019 rising to $14 billion in 2026.
âTreasury projects that extra investment from the company tax cuts would increase household spending power by less than 0.7% in 20 yearsâ time, $150 per person according to recent estimates, and many have questioned whether that extra investment would happen at all.
âRight now the federal budget is in deficit, and we canât be confident it will move back into surplus in the next few years. Those predictions have been wrong before.
âWhat that means is that if unfunded tax cuts go through, people across Australia will have to start paying more for essential services they have always relied upon.
âAnyone whoâs ever gone to a school, driven down a road or seen a doctor has benefited from Australiaâs taxes.
âIn the last few years billions of dollars have been ripped out of essential and community services such as hospitals, primary health, income support, education, and community services.
âBefore the company tax cuts bill was tabled in Parliament yesterday, the Senate passed the Welfare Reform Bill. In this Bill, more than 80,000 people stand to be cut off from payments following just 12 months of this new legislation. This is on top of over $12 billion in cuts to social security that have been made since 2013.
âIn addition, in the last couple of years Medicare rebates and family payments for low income families have been frozen and people looking for paid work are struggling to survive on just $277 per week.
âPeople in Australia donât want to pay upfront for hospitals, doctors and aged care. People across Australia donât want a âpay as you goâ essential service sector.
âA strong social safety net including great essential services like health, education and community services are the bedrock for all Australians.
âWe have a choice. We can pay more for services like hospital care, aged care and home care and continue to tolerate high levels of poverty and homelessness, or close the revenue gap by making sure everyone pays their fair share â including the many companies and wealthy individuals who take advantage of tax avoidance mechanisms.â
Notes from the ACOSS 2017 Budget Priorities Submission to government:
In the 2014 and 2015 budgets alone, over $15 billion (over four years) was cut from vital community services including Aboriginal and Torres Strait Islander services, community legal centres and refuges for victims of domestic violence.Anchor[1]
The governmentâs proposed company income tax reductions would reduce future revenues by an estimated $1.8 billion in 2019 rising to $14 billion in 2026, while the Treasury projects that it will increase household spending power in approximately 20 yearsâ time by less than 0.7%: a poor return for a costly investment.
https://www.acoss.org.au/media-releases/?media_release=well-all-pay-for-company-and-other-tax-cuts
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Like most socialists, this statement is high on hyperbole but very light on details.
What specifically is she proposing?
Socialists?
Isnât this what weâve always valued as Australians? Looking out for your mates. Supporting the people doing it tough. We pay higher taxes (as a nation) and we receive free education, healthcare and welfare services.
Or these things are just for people that can afford it now?
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Not sure what youâre on about.
My post was referring to the fact that the commentator provided no solution, nor any evidence for her claim. It was just a sound-bite that means nothing when all is said and done.
Are you able to tell me what she is proposing?
Turnbull tweets about real battlers affected by the franking credit removal
Oakshot says he knows at least one of the interviewees personally and heâs a successful business man
Turnbull deletes tweet
Lol
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You are full of it. What a snarky, snivelling nosepicker!
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I thought he was an MP, but I could be wrong.
I asked about senators, an MP lives in and does stuff for their local area, theoretically at least. A good MP can win on local issues. A senator lives⌠somewhere⌠and does⌠something, maybe.
If youâre talking senators, then it gets much easier. Pauline Hanson, the ex-Liberal party candidate who was disendorsed at the last minute for being a bit too racist even for Howard, is the really really obvious one.
IIRC, she was a MHR when disendorsed. Later became a Senator for One Nation.
I think she was disendorsed as a lower house candidate. Shayne Murphy did not last as a Senator after he left the ALP.
Harradine was expelled by the ALP before standing as an independent Senator , becoming the father of the Senate. As his vote was often critical everyone was instructed to be Uber polite to him ( a social reactionary). One day Gareth Evans could take no more and told him to bite his bum and some other things. Evans withdrew Bite your bum, but not the rest.
You would probably need to go back to the Labor split of the fifties for long term successful Senators switching sides ( from ALP to DLP).