Merged: The Great Budget Debate.......
Join Date: Mar 2008
Location: Melbourne
Posts: 30
Likes: 0
Received 0 Likes
on
0 Posts
Expat Pilots to be Taxed?
Income tricks of the rich targeted | The Australian
"Currently, certain foreign employment income earned by Australians working overseas for 91 days or more is exempt from income tax to remove the risk of taxing the same income twice.
However, the Government noted that Australians earning income overseas generally paid little tax to foreign governments. So from July 1, those earning income offshore will be entitled to a tax offset for any income tax paid overseas, but will still be liable for Australian income tax."
"Currently, certain foreign employment income earned by Australians working overseas for 91 days or more is exempt from income tax to remove the risk of taxing the same income twice.
However, the Government noted that Australians earning income overseas generally paid little tax to foreign governments. So from July 1, those earning income offshore will be entitled to a tax offset for any income tax paid overseas, but will still be liable for Australian income tax."
Join Date: Aug 2005
Location: PPrune nominee 2011!
Posts: 1,561
Likes: 0
Received 0 Likes
on
0 Posts
Well:
During the Howard Government we were posting surplus of $10billion dollars. It took a year for the new government to post a massive $57billion DEFICIT
Morons who voted Krudd in.....
During the Howard Government we were posting surplus of $10billion dollars. It took a year for the new government to post a massive $57billion DEFICIT
Morons who voted Krudd in.....
Nemo Me Impune Lacessit
Join Date: Jun 2004
Location: Derbyshire, England.
Posts: 4,091
Received 0 Likes
on
0 Posts
Before aviation gets any breaks from Rudd & Co you are going to have to sort out the catering!
If the Howard government had been voted in, with their IR laws, there is a very good chance that a lot of small businesses would still be in existence and unemployment would be lower. History repeats itself, the socialists throw it all away then the tories come in and rebuild the country only to get thrown out of office for their efforts because they paid as much attention to wealth creation as the did to welfare!
If the Howard government had been voted in, with their IR laws, there is a very good chance that a lot of small businesses would still be in existence and unemployment would be lower. History repeats itself, the socialists throw it all away then the tories come in and rebuild the country only to get thrown out of office for their efforts because they paid as much attention to wealth creation as the did to welfare!
Join Date: Mar 2009
Location: Perth
Posts: 23
Likes: 0
Received 0 Likes
on
0 Posts
I'm a fairly regular Lib voter, living in the only Lib state in Australia. I'm not worried about a budget deficit, I know that the GFC requires spending, so it was to be expected. Not sure I agree with the size of it or where it is being spent though.
For example, 10% of the population live in Western Australia (a Lib state).
40% of the nations exports come from WA.
Yet the Labor government only allocate 7% of the Budget's 'Building Australia' projects, even after Kev07's personalized pre-election TV ads promised big infrastructure projects to the West, which got him a few marginalized seats at the last election.
I'm thinking that the West has been ripped off and forgotten by a Federal government focussing on the masses in the east and vote-buying with $900 handouts.
With boom mines being shut down and staff made redundant, it would be the perfect time to invest in a massive solar energy plant, or water piping scheme from the north, but no, Kev says "let's build a bunch of highways and railways in the east because the WA Lib state government still can manage a surplus, so let them pay for it as we're don't need their votes again."
I only hope that the state budget can make up the shortfall, but in my view they shouldn't have to.
If only the Daylight Saving referendum this weekend could include a political vote too, I'd be interested on the swing for/against over here.
For example, 10% of the population live in Western Australia (a Lib state).
40% of the nations exports come from WA.
Yet the Labor government only allocate 7% of the Budget's 'Building Australia' projects, even after Kev07's personalized pre-election TV ads promised big infrastructure projects to the West, which got him a few marginalized seats at the last election.
I'm thinking that the West has been ripped off and forgotten by a Federal government focussing on the masses in the east and vote-buying with $900 handouts.
With boom mines being shut down and staff made redundant, it would be the perfect time to invest in a massive solar energy plant, or water piping scheme from the north, but no, Kev says "let's build a bunch of highways and railways in the east because the WA Lib state government still can manage a surplus, so let them pay for it as we're don't need their votes again."
I only hope that the state budget can make up the shortfall, but in my view they shouldn't have to.
If only the Daylight Saving referendum this weekend could include a political vote too, I'd be interested on the swing for/against over here.
Join Date: Apr 2000
Location: Oz
Posts: 754
Likes: 0
Received 0 Likes
on
0 Posts
Skystar320, the "loose grip on reality" I mentioned in my previous post is perfectly illustrated by your comments:
OK, some very, very basic history here: Labor's first budget, still riding on the good times, was also a massive surplus. The global financial crisis caused a rapid collapse in tax revenue. Company earnings (and therefore the tax take) plummeted, among other revenue sources. According to the Treasury, revenue will be down by $50 billion next year, having already plummented $23 billion this year.
Now, elementary maths: If I have a $10 billion surplus, and lose $23 billion in revenue one year, followed by $50 billion in revenue the following year, what is the net result I'm looking at, before I've even started spending money?
It's OK, take your time. Don't rush the answer. You may use a calculator if you wish.
I'm not debating whether or not their spending is warranted, but I'm a little surprised at the lack of sophistication of your statement (another way of saying it's extremely simple-minded).
I like to think pilots are smart, intelligent, rational people who can stand back and assess the reality of a situation. It frustrates me no end to be reminded that I'm hopelessly wrong in this respect.
During the Howard Government we were posting surplus of $10billion dollars. It took a year for the new government to post a massive $57billion DEFICIT
Now, elementary maths: If I have a $10 billion surplus, and lose $23 billion in revenue one year, followed by $50 billion in revenue the following year, what is the net result I'm looking at, before I've even started spending money?
It's OK, take your time. Don't rush the answer. You may use a calculator if you wish.
I'm not debating whether or not their spending is warranted, but I'm a little surprised at the lack of sophistication of your statement (another way of saying it's extremely simple-minded).
I like to think pilots are smart, intelligent, rational people who can stand back and assess the reality of a situation. It frustrates me no end to be reminded that I'm hopelessly wrong in this respect.
Silly Old Git
Standard and Poors think KRudds got it right enough.
But he conveniently ignores Moody's
Here comes hard Labor
But he conveniently ignores Moody's
Here comes hard Labor
Join Date: Aug 2006
Location: A cheap seat at the front of a 777 :-)
Posts: 203
Likes: 0
Received 0 Likes
on
0 Posts
' The problem with socialism, is that eventually you run out of other people's money '
Quote: Mrs Margaret Thatcher
Quote: Mrs Margaret Thatcher
Quote: 7378FE
Join Date: Dec 2005
Location: Australia
Posts: 132
Likes: 0
Received 0 Likes
on
0 Posts
Hmmm.... Yep it's ALL Labours Fault......
The Libs left a 20 billion Dollar surplus after a decade of growth and the biggest mining boom ever. WOW.... all we got was Hand outs, first home buyers grants, baby bonuses and rebates. Very little infrastructure in this time!!! But hay I don't care... I got my %30 health care rebate
... Happy times
Howard increased Middle class welfare to never before seen levels... using the extra revenue from the mining boom.... and guess what that boom is over and now we cant afford Howard's and Costello's middle class welfare hand outs...
Maybe we could have increased spending in things like roads, ports, schools, Hospitals or aged pensions when the going was good!!!! just a thought.
Open your eyes..... the last government pi$$ed more money against the wall then any other government in this countries history.....
The Libs left a 20 billion Dollar surplus after a decade of growth and the biggest mining boom ever. WOW.... all we got was Hand outs, first home buyers grants, baby bonuses and rebates. Very little infrastructure in this time!!! But hay I don't care... I got my %30 health care rebate
... Happy times Howard increased Middle class welfare to never before seen levels... using the extra revenue from the mining boom.... and guess what that boom is over and now we cant afford Howard's and Costello's middle class welfare hand outs...
Maybe we could have increased spending in things like roads, ports, schools, Hospitals or aged pensions when the going was good!!!! just a thought.
Open your eyes..... the last government pi$$ed more money against the wall then any other government in this countries history.....
Join Date: Dec 2005
Location: Australia
Posts: 132
Likes: 0
Received 0 Likes
on
0 Posts
' The problem with socialism, is that eventually you run out of other people's money '
Quote: Mrs Margaret Thatcher
Quote: Mrs Margaret Thatcher
The Problem with Capitalism is it has very little social conscience and is controlled by greed. How much has the GFC cost??? 1 trillion??? 2 Trillion? who knows... but it would be safe to say that Capitalism has cost a bit lately???
Quote: It's a stick
Quote: It's a stick
Why is it Labours fault the World is in a Recession??? whether you are liberal or labour or greens or who ever.... surely you aren't stupid enough to think that our economy going into a deficit is the result of the current Government....
If you think that then you are a TWIT.
Join Date: Dec 2005
Location: Australia
Posts: 132
Likes: 0
Received 0 Likes
on
0 Posts
2007: The costs of the Pacific Solution emerge
A report, A Price Too High: Australia's Approach to Asylum Seekers, found that:
• The Pacific Solution cost the Australian taxpayer in excess of $1 billion over five years.
• It cost more than $500,000 per person to process them on Manus Island, Christmas Island or Nauru.
• It costs seven times more to process asylum seekers on Pacific islands than if it was done on the Australian mainland.
• The Pacific Solution failed to reduce the number of people arriving.
A report, A Price Too High: Australia's Approach to Asylum Seekers, found that:
• The Pacific Solution cost the Australian taxpayer in excess of $1 billion over five years.
• It cost more than $500,000 per person to process them on Manus Island, Christmas Island or Nauru.
• It costs seven times more to process asylum seekers on Pacific islands than if it was done on the Australian mainland.
• The Pacific Solution failed to reduce the number of people arriving.
For those who escaped the unwashed masses and low cost carriers-
From smats.net
Australian Treasurer Wayne Swan announced in his Budget on the 12th May 2009 that a number of anti tax avoidance measures would be introduced including changes to the Foreign Income rules.
The proposed changes scrap the current tax exemption on Foreign income by Australian residents doing offshore work stints of 90 dyas or more, where they are exempt from tax on this income provided they pay tax in the country of earning.
The new changes will make these earnings taxable in Australia with a full tax credit for any tax paid in the offshore country.
This has caused a stir in the Expatriate community as many Australians living and working aborad feared that this may mean their offshore earnings may now be taxable.
This is not the case, as the changes only apply to people living in Australia and venturing overseas on short term work assignments.
Australians genuinely living overseas on a long term basis are classed usually as Non Residents for tax purposes and therefor the changes to the exempt income rules will not affect them as they did not apply in the first case.
For many Australians currently commuting for work offshore, there may be motivation for them the move permanently overseas in order to not have there incomes taxed in Australia under the new rules.
The proposed changes scrap the current tax exemption on Foreign income by Australian residents doing offshore work stints of 90 dyas or more, where they are exempt from tax on this income provided they pay tax in the country of earning.
The new changes will make these earnings taxable in Australia with a full tax credit for any tax paid in the offshore country.
This has caused a stir in the Expatriate community as many Australians living and working aborad feared that this may mean their offshore earnings may now be taxable.
This is not the case, as the changes only apply to people living in Australia and venturing overseas on short term work assignments.
Australians genuinely living overseas on a long term basis are classed usually as Non Residents for tax purposes and therefor the changes to the exempt income rules will not affect them as they did not apply in the first case.
For many Australians currently commuting for work offshore, there may be motivation for them the move permanently overseas in order to not have there incomes taxed in Australia under the new rules.
Join Date: Dec 2002
Location: Australia
Posts: 2,382
Likes: 0
Received 0 Likes
on
0 Posts
Personally I vote labour but i must admit for the first time I'm looking over the fence at the libs. Why? Well I'm tired of paying for long term unemployed and for people that expect the system to pay for them.
I thought a "tough" budget would have included an expiry date on the handouts to these people. But what it actually contained was an expiry date on the 50k at 15% tax into super. Now I'm not going to be relying on the system to fund my retirement so I think its fair for me to receive a bit of help if I'm willing to put my cash away for 30 years.
Now a spray for J. Winston Howard. Infrastructure spending? Yep well over due because nothing got done for 13 years. When you go overseas and have a look around you can see public transport/roads/rail/airports that we can only dream of. Lets face it our airports are a disgrace and so is the transport system in general.
I thought a "tough" budget would have included an expiry date on the handouts to these people. But what it actually contained was an expiry date on the 50k at 15% tax into super. Now I'm not going to be relying on the system to fund my retirement so I think its fair for me to receive a bit of help if I'm willing to put my cash away for 30 years.
Now a spray for J. Winston Howard. Infrastructure spending? Yep well over due because nothing got done for 13 years. When you go overseas and have a look around you can see public transport/roads/rail/airports that we can only dream of. Lets face it our airports are a disgrace and so is the transport system in general.