topic Re: the budget in Community Spirit

the budget

dellynt — Tue, 12 May 2015 22:28:01 GMT

What an excellent budget

overall a very good package

gets my tick of appoval

Re: the budget

vicr3000 — Tue, 12 May 2015 22:32:20 GMT

Generally agree.

But didn't go far enough in clawing back some of the monies owed by people and or companies.

Re: the budget

dellynt — Tue, 12 May 2015 22:39:13 GMT

I agree but at least we have a starting point to get some tax from these OS companies...

great move stopping the blatent rip off double dipping on maternity leave

great news they are going after the welfare cheats as well and the OS hex fees

And a good package for small business

Re: the budget

vicr3000 — Tue, 12 May 2015 22:55:13 GMT

Starting point, that's all it is. It needs to co operation of other countries as well, although I think they will start doing the same and having a look at where the money is earned and costs of purchases to make sure they are not inflated.

I think they should go much further with clawing back HECS fees from other areas, not just OS workers. Plenty of scope to rope in blatant avoidance of having to pay it back while quite happily spending up on luxuries or doing nothing all day.
ie after a set period, say 10 years or if they get married etc, the threshold should be lowered and / or applied

to the married couples income, so that those who go to Uni to get a degree or two but never get a job still have

to pay it back. You can't have people not paying it back for 20 years, especially if they come from overseas.

Re: the budget

cherry*135 — Wed, 13 May 2015 00:20:39 GMT

A very poor Budget indeed.

About politics not policy (trying to save Abbott/LNP Govt), Not a Budget for economists, just intended as a vote buying one.

Re: the budget

cherry*135 — Wed, 13 May 2015 00:23:01 GMT

FIVE THINGS JOE HOCKEY didn’t say in his budget speech:

Debt up

Deficit up

Spending up

Taxes are up

Unemployment up

Re: the budget

polksaladallie — Wed, 13 May 2015 00:23:28 GMT

This budget is all about jobs.

Two of them.

Re: the budget

vicr3000 — Wed, 13 May 2015 00:25:33 GMT

Another less than insightful post from a poster, as usual.

Reading around, you could increase welfare payments, create a job for them, wipe out debt owed and they would still

complain about the Gov't. Maybe they need to throw in a tax deductable OS holiday !

Re: the budget

cherry*135 — Wed, 13 May 2015 00:25:27 GMT

3 UNFAIR MEASURES STILL IN #BUDGET2015:

$80 billion cut from hospitals & schools

**$100,000 university degrees

**Cuts to family payments

** savings claimed in Budget 2015 for these two, when they haven't even been passed in Senate. Creative accounting

Also 'childcare package' dependent on no 'cuts to family payments'.

Re: the budget

cherry*135 — Wed, 13 May 2015 00:26:20 GMT

@polksaladallie wrote:
This budget is all about jobs.

Two of them.

Correct.

Re: the budget

vicr3000 — Wed, 13 May 2015 00:27:29 GMT

Yes, 2 of them.

No point in creating jobs in some areas, people won't take them anyway,

Don't you agree ?

Re: the budget

cherry*135 — Wed, 13 May 2015 00:28:29 GMT

Re: the budget

vicr3000 — Wed, 13 May 2015 00:39:07 GMT

At least he has a job to save.

Re: the budget

cherry*135 — Wed, 13 May 2015 00:52:28 GMT

What an odd comment.

Re: the budget

cherry*135 — Wed, 13 May 2015 01:32:27 GMT

The Australian (right wing bias)

The 2015 budget has the reverse problem of the 2014 budget. There is greater humility (a leadership scare will do that) but not enough courage (that quickly subsided when 39 MPs voted for a leadership spill against Abbott).

Where is the will to confront the budget “emergency” they have long warned us against? Policy courage has been replaced with political caution. To be sure, there are sensible savings measures in the budget, but these are petty cash. A drop in the deficit doesn’t mean we give up on reining in the age of entitlement.

http://www.theaustralian.com.au/opinion/columnists/hockey-lacks-humility-courage-of-sir-fixalot-scott-morrison/story-e6frg7bo-1227352096583

Re: the budget

Anonymous — Wed, 13 May 2015 02:00:32 GMT

@vicr3000 wrote:

Generally agree.

But didn't go far enough in clawing back some of the monies owed by people and or companies.

refreshing to see posters' opinions instead

of communicating by using memes.

for the first time - australians living overseas

will be targeted:

Federal Budget 2015: tax hit for foreigners and Australians living overseas

http://www.afr.com/news/policy/budget/federal-budget-2015-tax-hit-for-foreigners-and-australians-living-overseas-20150512-ggum7b

Re: the budget

rabbitearbandicoot — Wed, 13 May 2015 02:02:47 GMT

I don't usually get into political arguments, but it seems people want it both ways. No debt. Plenty of handouts. Plenty of cuts to tax.

I thought that money-in dictates what you have to spend. You can't keep living on credit cards - NOR can a government.

Re: the budget

cherry*135 — Wed, 13 May 2015 02:41:57 GMT

@*julia*2010 wrote:
refreshing to see posters' opinions instead
of communicating by using memes.

for the first time - australians living overseas
will be targeted:

Federal Budget 2015: tax hit for foreigners and Australians living overseas

http://www.afr.com/news/policy/budget/federal-budget-2015-tax-hit-for-foreigners-and-australians-living-overseas-20150512-ggum7b

The OP loves memes. Learnt from the master/mistress.

I posted the following in another thread as well (HECs debt thread)

First of all does the Aust Govt have any 'tax agreements' with any countries they want to collect HECS & HELP debts for them?.

The only country I am aware of that they (Pyne) have had talks with is the UK, so far.

Second, the graduate living overseas has to be earning above the threshold (The compulsory repayment threshold for the 2014‑15 income year is $53,345. For 2015-16, the compulsory replayment threshold will be $54,126.).

For thos who earn below that, or don't work at all, then there is no recovery.

Of course there are Australian graduates living overseas that do voluntarily pay off their HECS & HELP debt too.

Mr Pyne said changes will make the system fairer and are expected to raise more than $140 million for the Government over 10 years.

Hope they didn't use that estimated figure to bolster the Budget.

Collecting student loans from overseas debtors just a start

.....The challenge will be to collect repayments in a cost-effective way. Retaining the income-contingent aspect for overseas debtors would place an administrative burden on the ATO as well as on debtors. England has a similar income-contingent loan program to Australia. But, unlike Australia, it requires its overseas debtors to repay.

Like debtors living in England they repay under the income-contingent system. Each year, overseas debtors are required to submit significant paperwork to prove their income levels. A default repayment applies to debtors who do not submit evidence. Despite these efforts, more than two-thirds of English debtors do not repay.

Pyne wants to introduce a similar system. He is investigating a bilateral agreement with the UK in order to recover debts from Australians living there.

But, as the chart below shows, overseas debtors living in the UK and New Zealand (with which Australia already has an in-principle agreement for debt recovery) represent fewer than 30% of all overseas debtors.

Extending these agreements to other countries is likely to be difficult. We need a low-cost repayment system that can collect from debtors in many countries.

....A more cost-effective way is to require overseas debtors to repay a flat amount each year. New Zealand provides a possible guide. It minimises administrative costs by charging overseas debtors flat amounts based on outstanding debt levels each year. The repayment amount ranges from A$1000 to A$4800 a year depending on the amount owed.

http://theconversation.com/collecting-student-loans-from-overseas-debtors-just-a-start-41157

Re: the budget

cherry*135 — Wed, 13 May 2015 02:46:20 GMT

@rabbitearbandicoot wrote:
I don't usually get into political arguments, but it seems people want it both ways. No debt. Plenty of handouts. Plenty of cuts to tax.

I thought that money-in dictates what you have to spend. You can't keep living on credit cards - NOR can a government.

_________________________________________________________________________________________________

For this Govt, you need to compare the last Budget with this one.

This one is more about 'politics' not policy ( saving Abbott/LNP from getting dumped, trying to woo back Liberal voters they lost over the last Budget.

Where did that Budget emergency go, that they banged on about continually? Seems to have vanished in thin air, now they have increased the deficit and can't blame it on anyone else any longer.

Re: the budget

cherry*135 — Wed, 13 May 2015 03:06:19 GMT