
Quijano
6.7K posts

Quijano
@JeffTorbek
Trying to understand it all...but it seems just too hard sometimes...









#Newspoll Federal budget good or bad for economy: Good 22 (0 from 2025) Bad 47 (+15) #auspol

The torpedo moment






@NoelWhittaker What about a family Trust whose only income is $20,000 from rent Distributed to 2 retrirees so currently pay no tax Does this mean tax will be 30% on $20K? @AlanKohler








Opposition leader Angus Taylor is promising, if elected, to index income tax scales to the inflation rate. This is not a good idea. For example, if inflation was 2.5%, the level at which a worker moves from a tax rate of 30% to 37% is lifted from $135,001 to $138,376. They are automatic income tax cuts in line with inflation. If inflation is 5%, as it is not, that tax scale would rise from $135,001 to $141,751. A huge rise and a huge tax cut at a time when inflation is ripping along. The problem with such a scheme is clearly that it is pro-cyclical. In an era of high inflation and an overheating economy, the rise in the tax scales will be big which gives large income tax cuts to the workforce. This would see the policy working against the RBA's anti-inflationary stance in this example. Interest rates would be even higher as a result. The proposal would make it much harder for the RBA to meets its inflation target and / or will require much greater volatility in interest rates as the RBA fights to offset the pro-cyclical nature of the the indexation of tax scales. And it costs a fortune - a chunky $23 billion in 4 years. youtube.com/watch?v=PaSZG2…







🚨 NEW: Federal voting intention 🟧 ONP: 32% 🟥 ALP: 28.5% 🟦 L/NP: 16.5% 🟩 GRN: 11.5% ⬛️ OTH: 11.5% Two-party-preferred 🟥 ALP: 55% 🟦 L/NP: 45% ALP vs ONP 🟥 ALP: 51% 🟧 ONP: 49% L/NP vs ONP 🟧 ONP: 51% 🟦 L/NP: 49% Roy Morgan [SMS] | 13-14 May | n=2348


🚨 NEW: Federal voting intention 🟧 ONP: 32% 🟥 ALP: 28.5% 🟦 L/NP: 16.5% 🟩 GRN: 11.5% ⬛️ OTH: 11.5% Two-party-preferred 🟥 ALP: 55% 🟦 L/NP: 45% ALP vs ONP 🟥 ALP: 51% 🟧 ONP: 49% L/NP vs ONP 🟧 ONP: 51% 🟦 L/NP: 49% Roy Morgan [SMS] | 13-14 May | n=2348








