Shortforbob

I still call Australia home

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8 hours ago, MikeHunt said:

Whinge, whinge, whinge.... I bet you're fun at a party

Says a man who's wife puts toothpaste on his balls

:rimshot:

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8 minutes ago, Shortforbob said:

Says a man who's wife puts toothpaste on his balls

:rimshot:

Funny way to brush ones teeth, but hey whatever turns her on. :D

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2 hours ago, random said:

Karma is a bitch.

I was shafting 'hero' pilots and firefighters over in another thread ...

New neighbours accidentally started a grass fire this afternoon from a smoldering tree stump when a southerly change came through.  Only one woman home who had no idea.

I watched her for a while trying to bucket water to it from a creek wasn't working.  Got changed, ripped off a leafy gum tree branch and bashed out the fire in about 15 mins.  I was fucked and sucked in a lot of smoke.  The firemen got there just after I put it out, she had called them earlier but didn't tell me.  The boss man saw me on the ground gasping and coughing and offered to call an ambulance.  Nuh.  Gave me some water instead.

But it was good to see them clean it up and put out the embers.  Didn't see one hero in the crew though.  Guess I was right.

So you didn't call the fireies and didn't ask her if she had? and She hadn't a clue?

Random..you make me giggle.

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I don't know how I think about this.

I get the need to control the black economy, but some people actually keep that much cash on hand for perfectly legitimate reasons.

EG, I took more than $10,000 out of one bank to get it exchanged into Euro's at another.

perhaps the idea is fine but the barrier amount too low.

https://www.abc.net.au/news/2019-08-20/transacting-$10,000-or-more-in-cash-could-make-you-a-criminal/11429230

 

Australians could face two-year jail sentences and fines of up to $25,200 under proposed laws that limit the use of cash to $10,000 — a move some groups argue would create an Orwellian state by giving authorities greater control over people's finances.

Key points:

  • The proposed law would apply to all payments of more than $10,000 to a business with an ABN, such as buying a car from a car yard
  • Private transactions between individuals with no ABN would be exempt from the new rules
  • One Nation has indicated it will vote against the bill, as some business groups argue it is an attack on the basic liberty of free exchange

 

A number of stakeholders have called on the Federal Government to withdraw the proposed laws, which were first announced in the 2018-19 budget as part of measures to fight the so-called black economy.

The Government's Black Economy Taskforce had argued a $10,000 cash limit for transactions between businesses and individuals would help fight the cash economy by stamping out tax evasion, money laundering and other crimes.

But some groups fear the laws could give the banks, which have faced much scrutiny under the banking royal commission, too much control over people's money.

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14 hours ago, Shortforbob said:

 

There's prolly a sissy footy thread in there too. Somewhere.

Yeah I'll prolly start an EPL 19/20 thread since Liverpool are 2 for 2 and both Man City & Man Utd drew so now they're playing catchup for the rest of the season...only 36 matches to go!!!

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Just now, albanyguy said:

You're funny...Aunty not being a rabid lefty source :lol::lol::lol:

hence the grin. But it doesn't usually post conspiracy theories or print lies or sensationalist crap. 

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Speaking of Aunty...I see they're spruiking an article on The Conversation from the Grattan Institute re the need for introduction of Inheritance Tax and further reductions in non-concessional contributions into super. Labor will have a huge fight on their hands if they try to introduce that as a policy. They can try and then try to sell it at the next Federal election and ensure Morrison has three terms! :D

https://www.abc.net.au/news/2019-08-20/inheritances-as-we-know-them-are-broken/11429540

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20 hours ago, random said:

I watched her for a while trying to bucket water to it from a creek wasn't working.  Got changed, ripped off a leafy gum tree branch and bashed out the fire in about 15 mins.  I was fucked and sucked in a lot of smoke.  The firemen got there just after I put it out, she had called them earlier but didn't tell me.  The boss man saw me on the ground gasping and coughing and offered to call an ambulance.  Nuh.  Gave me some water instead.

What is that up in the sky? Is it a bird? Is it a plane?

No it's..........

 

 

 

 

 

 

 

 

38f40p.jpg

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On 8/16/2019 at 8:21 PM, random said:

For Tuvalu, a global commitment to limiting climate change to 1.5C is literally a question of survival.

Image result for drinking kool aid

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4 hours ago, albanyguy said:

Speaking of Aunty...I see they're spruiking an article on The Conversation from the Grattan Institute re the need for introduction of Inheritance Tax and further reductions in non-concessional contributions into super. Labor will have a huge fight on their hands if they try to introduce that as a policy. They can try and then try to sell it at the next Federal election and ensure Morrison has three terms! :D

https://www.abc.net.au/news/2019-08-20/inheritances-as-we-know-them-are-broken/11429540

I'm sure you understand the reasons for such taxes and the structural issues in the present system which this is meant to address.

Why should an individual be gifted money that's been taxed at a concessional rate?

 

Of course, this isn't the political problem you make it out to be. Unless you put party before intellectual rigour.

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4 hours ago, Shortforbob said:

hence the grin. But it doesn't usually post conspiracy theories or print lies or sensationalist crap. 

Bwahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahaha

Image result for lea sales abc

Image result for abc the drum

Image result for abc q&a

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2 minutes ago, LB 15 said:

Bwahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahaha

Image result for lea sales abc

Image result for abc the drum

Image result for abc q&a

I didn't know we were posting our favourite TV shows!

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LB must be a bit of a fan of fiction, as can be seen by the viewing choices.

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14 minutes ago, charisma94 said:

LB must be a bit of a fan of fiction, as can be seen by the viewing choices.

Actually, lb has a hard on for ms sales.

He loves chicks with a nose bigger than his dick....

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4 minutes ago, Ease the sheet. said:

Actually, lb has a hard on for ms sales.

He loves chicks with a nose bigger than his dick....

As you seem to have a hard on for him too, think yourself lucky I suppose. But still, if you're going to let him, use lube is my advice.

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10 minutes ago, charisma94 said:

LB must be a bit of a fan of fiction, as can be seen by the viewing choices.

I must say I have been enjoying the ABC documentary about organised crime in Sydney in the 1970's. 

Image result for les norton abc

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Watch half of the first episode and switched to the last episode of Crashing.

Only went there because Fleabag was so good.  Phoebe is the best talent I have seen in decades.

Les is a big Bogan.  Stereotypical shit.  And Rebel annoys the fuck out of me, she must have cut a good deal from the court case, saturation coverage now.

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^Crashing?? Watching that with your daughter were you? "...lives & loves of twenty-somethings..." Yeah, nah.

New series of UTOPIA starts tomorrow night.

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16 minutes ago, random said:

Les is a big Bogan.  Stereotypical shit.  

John Michael Randumb.

Image result for john michael howson

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56 minutes ago, Ease the sheet. said:

I didn't know we were posting our favourite TV shows!

Again,

Image result for drinking kool aid

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37 minutes ago, Ease the sheet. said:

He loves chicks with a nose bigger than his dick....

Your sister had no complaints. Tell her I said to say hi.

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34 minutes ago, charisma94 said:

^Crashing?? Watching that with your daughter were you? "...lives & loves of twenty-somethings..." Yeah, nah.

New series of UTOPIA starts tomorrow night.

Clearly you haven't seen an episode.

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1 hour ago, LB 15 said:

I must say I have been enjoying the ABC documentary about organised crime in Sydney in the 1970's. 

Image result for les norton abc

You can tell a book by it's cover.  Fucking hell!

Probably what turned me off the most was the predictability of the script.  Les asked the make sure the three Asian sex slaves get to the airport ... uh huh, so they couldn't possibly run off could they?   Oh what a surprise they did!  <Click>

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Well that's what you get when you starve Aunty of funds.

It's a shame.

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1 hour ago, LB 15 said:

Your sister had no complaints. Tell her I said to say hi.

She asked me to tell you to see a dr.

You must have made an impression, she doesn't usually care about the "health" of her late night frolics...

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2 hours ago, charisma94 said:

As you seem to have a hard on for him too, think yourself lucky I suppose. But still, if you're going to let him, use lube is my advice.

Words of experience?

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7 hours ago, LB 15 said:

I must say I have been enjoying the ABC documentary about organised crime in Sydney in the 1970's. 

Image result for les norton abc

Les Norton. Thoroughly enjoyed the books back in the day. For a relatively naive 20 something Sandgroper back in the 90's it certainly opened my eyes to the sorts of things that went down in Sydney in certain circles.

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8 hours ago, Ease the sheet. said:

I'm sure you understand the reasons for such taxes and the structural issues in the present system which this is meant to address.

Why should an individual be gifted money that's been taxed at a concessional rate?

 

Of course, this isn't the political problem you make it out to be. Unless you put party before intellectual rigour.

They're already addressed to some extent Ease. Super contribution limits have been coming down progressively since Costello's huge freekick to the over 50's in 2006. I think the contribution limits are fine as they are. Plus with the introduction of the $1.6m Total Super Balance limit it addresses some of the tbe excesses in the system that built up.

Re gifting funds from a concessionally taxed source - if the death benefit recipient is an adult beneficiary then the taxed portion of the benefit is taxed at 15% so there is an inheritance tax of sorts already. And with the TSB limit if $1.6m and reduced non-concessional limits the recontribution strategy is not as effective as it once was.

So good luck to the ALP if they decide to argue for inheritance taxes.

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I've no problem with inheritance tax if the family home is exempt or at least taxed only on it's sale.

an inheritance is income on which the recipient has paid nothing. it's new income. a reasonable rate say 15% over the first 100 grand gradually increasing to top out at 35% over 5 million would be just IMHO.

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So, you've (personally) gone through all the trials & tribulation of life, saved hard, endured heaps, a life well lived as you've alliterated here on SA.Paid your taxes, a moral citizen. Through tenacity & hard work, own a smallish home in Melbourne, with two great  kids who that you've also spoken  of...

When you kark it, your gesture or leg up (Inheritance) to them, your sacrifices & efforts are further taxed??? The  money is yours, your families or a fricken dog shelter if that's who you'd like you beneficiary to be, its your property, its not the states property, or the kids "income".

I reckon we'll end up with death duties, too big a cash cow, but it still sucks.

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Charisma, unfortunately I think you are correct.

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8 hours ago, albanyguy said:

They're already addressed to some extent Ease. Super contribution limits have been coming down progressively since Costello's huge freekick to the over 50's in 2006. I think the contribution limits are fine as they are. Plus with the introduction of the $1.6m Total Super Balance limit it addresses some of the tbe excesses in the system that built up.

Re gifting funds from a concessionally taxed source - if the death benefit recipient is an adult beneficiary then the taxed portion of the benefit is taxed at 15% so there is an inheritance tax of sorts already. And with the TSB limit if $1.6m and reduced non-concessional limits the recontribution strategy is not as effective as it once was.

So good luck to the ALP if they decide to argue for inheritance taxes.

Labor will not argue for an inheritance tax. They are the party of irresponsible economic management, remember?

The band aids you mention are exactly that, a way to tinker around the edges because an "inheritance tax" is electoral death.

The party of good economic management will let this slide on through to the keeper. Like all the other hard decisions.

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14 hours ago, Shortforbob said:

Well that's what you get when you starve Aunty of funds.

It's a shame.

A little low brow for the elitist left is it? The Les Norton books were written by a bogan for bogans and Robert Barrett was one of the countries best selling authors and fought constantly for the rights of authors over publishing houses. Since the ABC is funded more by hard working tax paying bogans than by welfare slurping elitist leftists, why shouldn’t the ABC include content for bogans? The 730 report and Q&A are made for retards- why should the bogans miss out?

 

 

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7 hours ago, charisma94 said:

So, you've (personally) gone through all the trials & tribulation of life, saved hard, endured heaps, a life well lived as you've alliterated here on SA.Paid your taxes, a moral citizen. Through tenacity & hard work, own a smallish home in Melbourne, with two great  kids who that you've also spoken  of...

When you kark it, your gesture or leg up (Inheritance) to them, your sacrifices & efforts are further taxed??? The  money is yours, your families or a fricken dog shelter if that's who you'd like you beneficiary to be, its your property, its not the states property, or the kids "income".

I reckon we'll end up with death duties, too big a cash cow, but it still sucks.

That money only exists because of concessional or favourable tax treatment. If it was taxed at standard income rates it would not be an inconsistency.

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7 hours ago, charisma94 said:

So, you've (personally) gone through all the trials & tribulation of life, saved hard, endured heaps, a life well lived as you've alliterated here on SA.Paid your taxes, a moral citizen. Through tenacity & hard work, own a smallish home in Melbourne, with two great  kids who that you've also spoken  of...

When you kark it, your gesture or leg up (Inheritance) to them, your sacrifices & efforts are further taxed??? The  money is yours, your families or a fricken dog shelter if that's who you'd like you beneficiary to be, its your property, its not the states property, or the kids "income".

I reckon we'll end up with death duties, too big a cash cow, but it still sucks.

Um..how much am I allowed to give my kids while I'm alive before gift tax kicks in?

Should there be a gift tax?

I cant see how inheritance tax is any different if one removes the emotional bit.

Frankly, the way I see it is that with a few sensible exemptions as outlined above, most people that had enough to be taxed would still be leaving enough to their kids for a small house or business startup.

If I left my kids the house (exempt) and my super , they'd only pay about $30,000 tax and have plenty for their own start in life and decent measure of security.

I thought we all wanted our kids to be self sufficient? not necessarily to do it hard, but to make their own way in the world and be self achievers.

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9 minutes ago, LB 15 said:

A little low brow for the elitist left is it? The Les Norton books were written by a bogan for bogans and Robert Barrett was one of the countries best selling authors and fought constantly for the rights of authors over publishing houses. Since the ABC is funded more by hard working tax paying bogans than by welfare slurping elitist leftists, why shouldn’t the ABC include content for bogans? The 730 report and Q&A are made for retards- why should the bogans miss out?

 

 

no, I watched the first episode. it was mildly amusing and quite nostalgic. Just not my thing.

I prefer my humor a little more bent, like black books.

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19 minutes ago, Ease the sheet. said:

That money only exists because of concessional or favourable tax treatment. If it was taxed at standard income rates it would not be an inconsistency.

There is that. 

Hmm. apparently there is no such thing as gift tax either, so you can give it all to the kids before you die, and they wont pay tax..but you might. 

https://alignfinancial.com.au/2018/06/06/are-gifts-taxable/

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Interesting. But not surprised.

 

These days, inheritances generally don’t arrive when people are saving for a house or trying to raise a young family.

More than 80 per cent of money passed down from parents goes to people aged 50 and over.

The most common age bracket in which people to receive an inheritance from parents is 55-59.

https://www.sbs.com.au/news/insight/here-s-who-is-getting-inheritances-in-australia-and-here-s-why-we-need-to-rethink-them

So we can remove that little, "help my kids to buy a home, start out in life" furphy.

If they haven't started out in life by the time they're 55, likely they'll simply give your hard earned to a landlord anyway or piss it up. (the usual mantra of the Right)

 

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46 minutes ago, Ease the sheet. said:

The party of good economic management will let this slide on through to the keeper. Like all the other hard decisions.

So the decision to revert back to the old assets test taper rate wasn't a hard decision by the Coalition government?

It certainly didn't go down well with those that lost significant aged pension income and the government took a hit but not as bad a hit as Labor did when they tried to double down on self funded retirees and remove franking credit refunds, which would've effected s significant number of retirees with SMSF's. That was electoral suicide and an own goal by Bowen.

 

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8 minutes ago, Shortforbob said:

Mel that report references the same Grattan Institute report referred to in the Aunty report i posted yesterday.  Seems both the ABC & SBS are mouthpieces for the Grattan Institute now :o:D

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I am probably a bit closer to leaving an inheritance than most of the other posters here.  As someone who grew up well below the poverty line, and did not receive a cent from inheritances (nor has my wife), anything I leave behind will have been earned (and taxed).  Our son has battled hard for years to make a living in his chosen profession - a tough one where rich cunts can shut down a program overnight, ending what has been a pitiful wage for those on the program, when they deigned to pay it in the first place.  If I can give him a leg up, rather than perpetuating the financial stratification of our society, why should Ease the sheet worry?  I'm paying a shitload more tax than arseholes like Clive Palmer, the Pratt family and many more at the "top".  That my superannuation has been concessionally taxed is a government policy - I'm not responsible, and I'm not benefitting much when the rest of my income is taxed at 47% and I have no deductions. (And my super is nowhere near the maximum $1.6M)

Remember, we were the original superannuation contributors - 2% at first, very slowly rising to 9% now.  And I pay the contributions, not my employer!  Many years of no or very small contributions.  I withdrew all my superannuation when I left Commonwealth employment in the early 80's to start my own business - that was all my capital.  I have paid superannuation at an effective rate for only 20 years, and along the way it's been decimated several times by global financial crises caused by the top end of town, not me.

As a baby boomer, I am at the apex of the bell curve.  Governments will take as much as they can, because it's the mother lode.  And they will give as little as they can, because there's too many of us, and we're at the end of our taxable lives, so we don't matter.

And to address Meli's point above, our son was born when we were both 40, so it's unlikely he'll be getting his inheritance (if any) when he's 50 - 59 yo.  

Sorry to sound like a conspiracy theorist, but I DO see it as a plan to ensure that the poor don't rise above their allotted station.  Keep them poor and working, paying taxes and not troubling the financial elites!

Don't get me started!

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13 minutes ago, Recidivist said:

I am probably a bit closer to leaving an inheritance than most of the other posters here.  As someone who grew up well below the poverty line, and did not receive a cent from inheritances (nor has my wife), anything I leave behind will have been earned (and taxed).  Our son has battled hard for years to make a living in his chosen profession - a tough one where rich cunts can shut down a program overnight, ending what has been a pitiful wage for those on the program, when they deigned to pay it in the first place.  If I can give him a leg up, rather than perpetuating the financial stratification of our society, why should Ease the sheet worry?  I'm paying a shitload more tax than arseholes like Clive Palmer, the Pratt family and many more at the "top".  That my superannuation has been concessionally taxed is a government policy - I'm not responsible, and I'm not benefitting much when the rest of my income is taxed at 47% and I have no deductions. (And my super is nowhere near the maximum $1.6M)

Remember, we were the original superannuation contributors - 2% at first, very slowly rising to 9% now.  And I pay the contributions, not my employer!  Many years of no or very small contributions.  I withdrew all my superannuation when I left Commonwealth employment in the early 80's to start my own business - that was all my capital.  I have paid superannuation at an effective rate for only 20 years, and along the way it's been decimated several times by global financial crises caused by the top end of town, not me.

As a baby boomer, I am at the apex of the bell curve.  Governments will take as much as they can, because it's the mother lode.  And they will give as little as they can, because there's too many of us, and we're at the end of our taxable lives, so we don't matter.

And to address Meli's point above, our son was born when we were both 40, so it's unlikely he'll be getting his inheritance (if any) when he's 50 - 59 yo.  

Sorry to sound like a conspiracy theorist, but I DO see it as a plan to ensure that the poor don't rise above their allotted station.  Keep them poor and working, paying taxes and not troubling the financial elites!

Don't get me started!

You're in pretty much the same situation as myself.

I've inherited nothing and am unlikely to.

I dont see inheritance tax as keeping the poor poor, if there are reasonable exemptions and a tax free threshold.

But I'm concerned that we seem to be getting closer and closer to the sort of income inequality we see in the USA, with a small cohort galloping ahead of the game on what should be tax payers money.

Take the recent study on school funding for example. Schools that are using taxpayers money to hugely advantage their students in elite schools while some schools have holes in the carpets and leaky roofs.

We all know that having money, makes money and the more you have, the more you, and ultimately your kids will make

The dice is loaded against the working poor at every turn.

A sensible inheritance tax will help level that playing field a little.

And there is the other thing. Health care and aged care for our generation booming out of control.

We need to have a inheritance tax to pay for all that care we will be receiving. otherwise you (and people like me who have nothing but their house and a few hundred thousand in super)can say goodbye to leaving anything to their kids. 

I think it was John Howard proposed people having to sell their family home to pay for aged care. (labor knocked that on the head)

Many already do to pay their RAD.

If we don't tax the dead, they sure as hell will tax the living and the PAYE taxpayer will, as usual bear the brunt..thats your kids and mine.

 

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Just now, Shortforbob said:

You're in pretty much the same situation as myself.

I've inherited nothing and am unlikely to.

I dont see inheritance tax as keeping the poor poor, if there are reasonable exemptions and a tax free threshold.

But I'm concerned that we seem to be getting closer and closer to the sort of income inequality we see in the USA, with a small cohort galloping ahead of the game on what should be tax payers money.

Take the recent study on school funding for example. Schools that are using taxpayers money to hugely advantage their students in elite schools while some schools have holes in the carpets and leaky roofs.

We all know that having money, makes money and the more you have, the more you, and ultimately your kids will make

The dice is loaded against the working poor at every turn.

A sensible inheritance tax will help level that playing field a little.

 

Oh come on Meli!  Inheritance taxes have been tried in the past.  The wealthy have mechanisms by which they avoid inheritance taxes (discretionary trusts etc) just as they don't pay income tax.  Levelling the playing field is a joke. 

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6 minutes ago, Recidivist said:

Oh come on Meli!  Inheritance taxes have been tried in the past.  The wealthy have mechanisms by which they avoid inheritance taxes (discretionary trusts etc) just as they don't pay income tax.  Levelling the playing field is a joke. 

see my edit.

I suggest we tax the estate directly, before probate can be granted. actually provisionally tax the dead rather than the beneficiaries.

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22 hours ago, albanyguy said:

Speaking of Aunty...I see they're spruiking an article on The Conversation from the Grattan Institute re the need for introduction of Inheritance Tax and further reductions in non-concessional contributions into super. Labor will have a huge fight on their hands if they try to introduce that as a policy. They can try and then try to sell it at the next Federal election and ensure Morrison has three terms! :D

https://www.abc.net.au/news/2019-08-20/inheritances-as-we-know-them-are-broken/11429540

Um..where has Labor said anything about introducing an inheritance tax?

Someone should, but any sugestion that this is in the ALP's next election policy platform is bullshit..so far.

This is old news but simply supports my assertion that we are going down the yellow brick road.

Chris Bowen has called on the Coalition to disavow a fake news campaign claiming Labor will introduce death taxes, a claim now being used by the far right in attacks against Labor.

On Friday, Labor complained to Facebook about a proliferation of posts and messages on the popular social network claiming it had struck a deal with the Greens and unions to introduce a 40% inheritance tax.

Within hours the claim had been picked up by the far right, including the conservative independent for Blair, Sandy Turner, who authorised a meme saying Bill Shorten and Shayne Neumann – the current Labor MP for Blair – plan to bring back death taxes. Turner first posted the meme at 3pm on Friday.

The meme was shared by the Wake Up Australia Be Proud Facebook page, which has more than 27,000 followers and posts material attacking the major parties and advocating a vote for One Nation or the Australian Conservatives.

 

Labor death tax meme authorised by conservative independent Sandy Turner

 

 Labor death tax meme authorised by conservative independent Sandy Turner. Photograph: Sandy Turner

George Christensen gave the scare campaign a further kick along on Monday, claiming on Facebook that “Labor does the bidding of their union bosses [and] the union bosses have demanded Bill Shorten introduce a death tax”.

The Nationals MP linked to a Daily Telegraph article from July quoting an Australian Council of Trade Unions policy document recommending Labor consider an inheritance tax.

The claim was first spread by Facebook messages linking to a press release by Josh Frydenberg, and on Sunday a fake tweet purporting to be authored by the ACTU secretary, Sally McManus, emerged saying that Labor had adopted the policy at its national conference.In the release, the treasurer quoted the shadow assistant treasurer, Andrew Leigh, from a 2006 article saying inheritance taxes are “efficient”.

McManus said the death tax claim was “clearly part of a coordinated campaign of misinformation”. “Those perpetrating it are so desperate they will lie and spread fake news on social media in an attempt to mislead and scare voters,” she told Guardian Australia.

The fake McManus tweet was shared by the former Howard government minister Gary Hardgrave, who deleted it after admitting he was “duped last night by an elaborate fake tweet”.

 

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56 minutes ago, Recidivist said:

I am probably a bit closer to leaving an inheritance than most of the other posters here.  As someone who grew up well below the poverty line, and did not receive a cent from inheritances (nor has my wife), anything I leave behind will have been earned (and taxed).  Our son has battled hard for years to make a living in his chosen profession - a tough one where rich cunts can shut down a program overnight, ending what has been a pitiful wage for those on the program, when they deigned to pay it in the first place.  If I can give him a leg up, rather than perpetuating the financial stratification of our society, why should Ease the sheet worry?  I'm paying a shitload more tax than arseholes like Clive Palmer, the Pratt family and many more at the "top".  That my superannuation has been concessionally taxed is a government policy - I'm not responsible, and I'm not benefitting much when the rest of my income is taxed at 47% and I have no deductions. (And my super is nowhere near the maximum $1.6M)

Remember, we were the original superannuation contributors - 2% at first, very slowly rising to 9% now.  And I pay the contributions, not my employer!  Many years of no or very small contributions.  I withdrew all my superannuation when I left Commonwealth employment in the early 80's to start my own business - that was all my capital.  I have paid superannuation at an effective rate for only 20 years, and along the way it's been decimated several times by global financial crises caused by the top end of town, not me.

As a baby boomer, I am at the apex of the bell curve.  Governments will take as much as they can, because it's the mother lode.  And they will give as little as they can, because there's too many of us, and we're at the end of our taxable lives, so we don't matter.

And to address Meli's point above, our son was born when we were both 40, so it's unlikely he'll be getting his inheritance (if any) when he's 50 - 59 yo.  

Sorry to sound like a conspiracy theorist, but I DO see it as a plan to ensure that the poor don't rise above their allotted station.  Keep them poor and working, paying taxes and not troubling the financial elites!

Don't get me started!

The reasons you've listed are why it won't happen.

Personally, I'm glad it won't happen. Super and property are 2 major ways to enable wealth transfer especially for the working class.

On principle, I don't believe the tax system should have inconsistencies that encourage abuse. That abuse hits the poor, the uneducated, the sick the hardest.

But, the "fuck you, jack. I'm ok" attitude runs deep.....

 

 

PS, you're no more a conspiracy theorist than the rest of us....

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39 minutes ago, Recidivist said:

Oh come on Meli!  Inheritance taxes have been tried in the past.  The wealthy have mechanisms by which they avoid inheritance taxes (discretionary trusts etc) just as they don't pay income tax.  Levelling the playing field is a joke. 

Well put.

I agree 100%!

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46 minutes ago, Ease the sheet. said:

The reasons you've listed are why it won't happen.

Personally, I'm glad it won't happen. Super and property are 2 major ways to enable wealth transfer especially for the working class.

On principle, I don't believe the tax system should have inconsistencies that encourage abuse. That abuse hits the poor, the uneducated, the sick the hardest.

But, the "fuck you, jack. I'm ok" attitude runs deep.....

 

 

PS, you're no more a conspiracy theorist than the rest of us....

yeah, you're probably right, but if inheritance tax doesn't take our house, the age care facility will.

The whole financial/tax/super/income/public expenditure bitch needs burning down and starting over.

We've known for 20 years that our kids are going to be robbed in one way or another. I'd rather the gov robs (boomers and gen X) us first and fixes things so our kids will at least have the same opportunities that my generation had. I worry about them.

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2 hours ago, Shortforbob said:

yeah, you're probably right, but if inheritance tax doesn't take our house, the age care facility will.

The whole financial/tax/super/income/public expenditure bitch needs burning down and starting over.

We've known for 20 years that our kids are going to be robbed in one way or another. I'd rather the gov robs (boomers and gen X) us first and fixes things so our kids will at least have the same opportunities that my generation had. I worry about them.


If you've taught them to be humble, to love learning and to be resilient, your worrying will be for nought. Sometimes I wonder if their individual success is due to me or despite me....

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RIP Tim. One of the parties and the country’s greatest leaders. 

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8 hours ago, random said:

If only that lightweight token Headscarf wearing darling of the left had the stones to have done this when she took office, the Christchurch massacre would never have happened. 

 

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On 8/21/2019 at 2:13 AM, Shortforbob said:

yeah, you're probably right, but if inheritance tax doesn't take our house, the age care facility will.

The whole financial/tax/super/income/public expenditure bitch needs burning down and starting over.

We've known for 20 years that our kids are going to be robbed in one way or another. I'd rather the gov robs (boomers and gen X) us first and fixes things so our kids will at least have the same opportunities that my generation had. I worry about them.

Still using UK law and premise then!!  

Get a lawyer and draw the paperwork-trust fund up ASAP. 

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38 minutes ago, LB 15 said:

If only that lightweight token Headscarf wearing darling of the left had the stones to have done this when she took office, the Christchurch massacre would never have happened. 

 

Debatable at best, he’d have done it one way or another. L

And that buyback isn’t working out that well either. 

Maybe better border control? 

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46 minutes ago, LB 15 said:

If only that lightweight token Headscarf wearing darling of the left had the stones to have done this when she took office, the Christchurch massacre would never have happened. 

You mean like Howard and Fisher did before the Port Arthur massacre?

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16 minutes ago, mad said:

Still using UK law and premise then!!  

Get a lawyer and draw the paperwork-trust fund up ASAP. 

I've willed my house to them. with the provision to turn it into two separate flats. My Super money to be used for the conversion.

That way they'll always have a roof over their heads or a rental income stream. Executor to administer funds until they are both 35.

I'll just take a green pill as soon as I start putting socks in the dishwasher and shopping in my pajamas....if I can remember where i put it. 

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Yes, congratulations, Australia. I am delighted that you won with the professional assistance of the U.S. National Basketball Association, where fully six of your team members gained their experience and another four gained experience in American College basketball. We wish you many more championships,

 

 

 

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No one cares.  How hard can it be to get a ball in a net when when you are that tall?

A sport for everyone!

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On 8/23/2019 at 7:44 AM, mad said:

Debatable at best, he’d have done it one way or another. L

And that buyback isn’t working out that well either. 

Maybe better border control? 

Our buy back has worked out ok. No more mass shootings. Which was kind of the outcome the government was looking for.

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On 8/23/2019 at 7:54 AM, Sidecar said:

You mean like Howard and Fisher did before the Port Arthur massacre?

Was not a problem until Port Arthur. Then the Howard Government did what no labor government could. One would have thought the Kiwi Government could have looked across the ditch and at their own ludicrous gun laws and done something. You know what she did after Christchurch? Her job. What she is paid to do.  But because she wore a headscarf (that great Islamic symbol of female oppression) she becomes the pin up girl for the purse clutching, tokenism loving left. At least we won’t have to worry about a labor government here in Oz for at least a decade. 

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2 hours ago, random said:

No one cares.  How hard can it be to get a ball in a net when when you are that tall?

A sport for everyone!

Yes nothing duller than watching multi millionaires run up and down a court. Basketball is even more boring to watch than tennis.

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On 8/23/2019 at 8:31 AM, Ease the sheet. said:

It's a nice headline.

And totally unproveable.

WTF? A gun lovin leftist? You will be kicked out of the snowflake club for voicing those opinions petal.

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10 minutes ago, LB 15 said:

Our buy back has worked out ok. No more mass shootings. Which was kind of the outcome the government was looking for.

Hopefully theirs will work as well, For both sides. 

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21 minutes ago, LB 15 said:

Was not a problem until Port Arthur. Then the Howard Government did what no labor government could. One would have thought the Kiwi Government could have looked across the ditch and at their own ludicrous gun laws and done something. You know what she did after Christchurch? Her job. What she is paid to do.  But because she wore a headscarf (that great Islamic symbol of female oppression) she becomes the pin up girl for the purse clutching, tokenism loving left. At least we won’t have to worry about a labor government here in Oz for at least a decade. 

You could say the same about every NZ prime minister since Port Arthur............ It takes a massacre to overcome the “it won’t happen here because we are sensible gun owners” mentality. It took an Australian to prove them wrong.

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And once again..women unite across party lines.

https://www.abc.net.au/news/2019-08-25/gladys-berejiklian-asked-on-air-if-shed-have-an-abortion-not-ok/11446156

Labor frontbencher Tanya Plibersek has come to the defence of Gladys Berejiklian after the Liberal Premier was asked live on-air by 2GB radio host Ben Fordham if she would personally have an abortion.

Ms Plibersek told The Sun-Herald and Sunday Age that it was "absolutely not OK to ask someone this on live radio".

The point the Premier quite rightly made is that any personal decision she might make should not be imposed on others. She handled this gracefully."

https://www.smh.com.au/politics/federal/labor-s-plibersek-says-it-s-absolutely-not-ok-to-ask-liberal-premier-berejiklian-on-air-if-she-d-have-an-abortion-20190824-p52kdn.html

onya Tanya :)

What an arsehole.

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It was crude of Fordo, agreed, but no one is listening to anything anyone from Labor has to say... Tanya who?

Gladys Bbqchicken can hold her own, she's a winner at least.

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An example of ignorance.

The whole point of changing the law is to make it a personal choice. Those that argue against abortion don't have to have one. Simple.

What one individual does is no business to any other individual.

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7 minutes ago, Ease the sheet. said:

The whole point of changing the law is to make it a personal choice.

Amazing isn't it?  Same people who prevent women from having abortions, want everyone to be able to choose to buy a gun, which can be used to kill many people.

Ignorant lying cunts.

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Couldn't agree more Ease.

What I find bizarre is the debate has been almost exclusively between old men... And gay old men to boot!

I was faced with the "choice" with a girlfriend when I was much younger, I was clear with her that it was her choice, and I'd100% support any decision she made. We were young, not that strong a couple & only together a few weeks, she chose to terminate.

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15 hours ago, Keith said:

Streak ends: US men’s basketball falls to Australia, 98-94

 

https://apnews.com/5e465cc4e7fc435bae8eec448c740c26

 

Well done Australia ....

It's so boring that the winner is determined by how many baskets were missed.  Otherwise it's just "you have a go, then I'll have a go".

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That's a good description!

It's a toss up isn't it, between basketball, baseball and American football which is the most boring. But they go mad for the shit.

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5 hours ago, charisma94 said:

It was crude of Fordo, agreed, but no one is listening to anything anyone from Labor has to say... Tanya who?

Gladys Bbqchicken can hold her own, she's a winner at least.

You miss the point. It's not a Lib/Lab debate.

Fordham was trying to bully and she stood her ground and women applaud.

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1 hour ago, random said:

Amazing isn't it?  Same people who prevent women from having abortions, want everyone to be able to choose to buy a gun, which can be used to kill many people.

Ignorant lying cunts.

Do they? I didn't know our anti abortion ding dongs were pressuring a ref for gun rights...amazing.:rolleyes:

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I suppose where I was coming from is Tanya's profile. Politics aside, no one knows who she is really, a number 2 in a shadow government. Maybe we know about her husband as a bit of a chuckle. So an article with her opinion tends to wash over.

But on this point, I agree with her completely.

 

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15 minutes ago, charisma94 said:

I suppose where I was coming from is Tanya's profile. Politics aside, no one knows who she is really, a number 2 in a shadow government. Maybe we know about her husband as a bit of a chuckle. So an article with her opinion tends to wash over.

But this point I agree with her completely.

 

Trust a conservative bloke to dismiss a female cabinat ministers for 9 years who become MP's at 28 and been Deputy leader for 5 and hold their seat for 21 years.

Bit like Julie B really...But I'd never be so rude as to say...Julie who?

Remember her? the woman that Should be our PM right now if the libs wern't such a boys club. 

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My point exactly. 21 years not much to show for it. Go ahead, Google some accomplishments if you have to, but straight out of your head, no Google, what's her story?

I can name plenty of things that old stick figure JB has done, unfortunately. Such a pill.

I know we're not talking Lib/Lab, but just at the moment in NSW, we here very little from Labor, state or federal...

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2 minutes ago, charisma94 said:

My point exactly. 21 years not much to show for it. Go ahead, Google some accomplishments if you have to, but straight out of your head, no Google, what's her story?

I can name plenty of things that old stick figure JB has done, unfortunately. Such a pill.

I know we're not talking Lib/Lab, but just at the moment in NSW, we here very little from Labor, state or federal...

She only got to do girly things like domestic violence and housing so you probably wouldn't notice.

RU486 springs to mind, another instance of her uniting women across the floor.

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Nope.& that's a fairly sexist comment too. But I'm unaware of any of those. She needs a better Press Secretary perhaps?

Absolutely, domestic violence & housing are very significant issues. If she's an advocate for those issues, she's a good'n. Just no one listens to Tanya. Not because of her gender, because she's a lightweight. (Or needs a better Press Secretary.) Dunno...

 

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On 8/25/2019 at 8:52 AM, Sidecar said:

You could say the same about every NZ prime minister since Port Arthur............ It takes a massacre to overcome the “it won’t happen here because we are sensible gun owners” mentality. It took an Australian to prove them wrong.

Yep. Totally agree.

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18 hours ago, charisma94 said:

Nope.& that's a fairly sexist comment too. But I'm unaware of any of those. She needs a better Press Secretary perhaps?

Absolutely, domestic violence & housing are very significant issues. If she's an advocate for those issues, she's a good'n. Just no one listens to Tanya. Not because of her gender, because she's a lightweight. (Or needs a better Press Secretary.) Dunno...

 

I should have used purple.

Perhaps she just liked to quietly do her job and go home to her kids after a week in the madhouse.

 

 

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