Merged: The Great Budget Debate.......
Join Date: Nov 2004
Location: Sydney
Posts: 655
Likes: 0
Received 0 Likes
on
0 Posts
i guess it just begs the question what services should have been cut to balance the books over the economic cycle??
I dont know much about economics so i wont proffer alternate solutions but i guess there are things that would have to be foregone in order to reduce the size of the deficit.
I havent heard anyone in the opposition making a suggestion as to what can be cut out. In fact when pressed on the tax cuts the opposition leader said that were essential to help stimulate the economy.
Given that the Opposition also supported the pension increases, and only suggest one change Ie the midical benefits rebate being substituted and a tax on tobacco i dont see any alternative being offered
As a percentage of GDP our defecit will be about the lowest in the OECD from all accounts so others will be far worse than us.
I have personally seen no sign of recession in this country. Shops full, carparks in Westfields full, petrol stations selling gas and harvey norman selling plasmas
My super has gone up about 7% since march..... all looking good to me
I dont know much about economics so i wont proffer alternate solutions but i guess there are things that would have to be foregone in order to reduce the size of the deficit.
I havent heard anyone in the opposition making a suggestion as to what can be cut out. In fact when pressed on the tax cuts the opposition leader said that were essential to help stimulate the economy.
Given that the Opposition also supported the pension increases, and only suggest one change Ie the midical benefits rebate being substituted and a tax on tobacco i dont see any alternative being offered
As a percentage of GDP our defecit will be about the lowest in the OECD from all accounts so others will be far worse than us.
I have personally seen no sign of recession in this country. Shops full, carparks in Westfields full, petrol stations selling gas and harvey norman selling plasmas
My super has gone up about 7% since march..... all looking good to me
Join Date: Oct 2007
Location: Sombrero CA.
Posts: 117
Likes: 0
Received 0 Likes
on
0 Posts
Comparative Circumstances
Have a brother living in London.Things are so bad up there he is on his way home.
Whether by good luck ,good management or both we in this country seem to have been spared the ravages of the WFC.
What Rudd said before the election does not relate to the circumstances that exist now.
Adapt modify change according to the circumstances is a reflection of a responsible government.I owe no allegiance to either party but Rudd and Swan appear to have a good handle on whats going and have responded appropriately.
The question was asked "whats wrong with a deficit?"no one responded.
Personally I agree.I dont see a problem with a deficit.As a proportion of GDP ours will be the smallest in the OECD
Whether by good luck ,good management or both we in this country seem to have been spared the ravages of the WFC.
What Rudd said before the election does not relate to the circumstances that exist now.
Adapt modify change according to the circumstances is a reflection of a responsible government.I owe no allegiance to either party but Rudd and Swan appear to have a good handle on whats going and have responded appropriately.
The question was asked "whats wrong with a deficit?"no one responded.
Personally I agree.I dont see a problem with a deficit.As a proportion of GDP ours will be the smallest in the OECD
I know I should be in bed but the WWD is keeping me awake.
Turnbull could have just as easily bobbed up in the ALP but the LIBS just fit that little bit better. Hawke made an artform of stealing the middle ground. Who would have thought he would turn on a union?
Rudd and Swan???.....no one has mentioned how this idiot runs foreign policy....a full and frank briefing on a defence white paper to a foreign power BEFORE even letting the opposition in on the act?
That 58billion deficit would only be a 12billion deficit if he didn't try to massage the trade figures in each quarter and buy a state election with the cash handouts.
The unions are getting argy. KRUDD hasn't abolished all of workchoices yet...46million reasons why they are pissed?
I fell asleep during both speeches....about the same impact on me.
My fear is for my kids.
Turnbull could have just as easily bobbed up in the ALP but the LIBS just fit that little bit better. Hawke made an artform of stealing the middle ground. Who would have thought he would turn on a union?
Rudd and Swan???.....no one has mentioned how this idiot runs foreign policy....a full and frank briefing on a defence white paper to a foreign power BEFORE even letting the opposition in on the act?
That 58billion deficit would only be a 12billion deficit if he didn't try to massage the trade figures in each quarter and buy a state election with the cash handouts.
The unions are getting argy. KRUDD hasn't abolished all of workchoices yet...46million reasons why they are pissed?
I fell asleep during both speeches....about the same impact on me.
My fear is for my kids.
Join Date: Dec 2007
Location: Sodor
Posts: 47
Likes: 0
Received 0 Likes
on
0 Posts
6 Economists 6 Opinions
One thing about economics and economists is that nothing is provable except in hindsight and even then its open to debate.Six Economists will give you six different opinions about projected economic growth,employment,monetary and fiscal policy and everything else that comes into the mix.
Its always a matter of wait and see,doing the best you can with the available information and hope you get the result you require.
Anyone who starts providing definitive answers about the future of an economy is full of it.Its all conjecture based on guesstimates.
Academics a lot smarter than Mr. Frozo have still managed to get it wrong.I dont have problem with deficits just so long as the money is spent on Education Health and Infrastructure.If its directed to middle class welfare then I have a problem with governments intent and credibility.
Howards run should have been a lot shorter.Two events extended it:Latham and Tampa.At both instances the electorate was ready for a change.Fear and the lack of a viable alternative kept Howard in office
Its always a matter of wait and see,doing the best you can with the available information and hope you get the result you require.
Anyone who starts providing definitive answers about the future of an economy is full of it.Its all conjecture based on guesstimates.
Academics a lot smarter than Mr. Frozo have still managed to get it wrong.I dont have problem with deficits just so long as the money is spent on Education Health and Infrastructure.If its directed to middle class welfare then I have a problem with governments intent and credibility.
Howards run should have been a lot shorter.Two events extended it:Latham and Tampa.At both instances the electorate was ready for a change.Fear and the lack of a viable alternative kept Howard in office
Join Date: Oct 2007
Location: gold coast QLD australia
Age: 86
Posts: 1,345
Likes: 0
Received 0 Likes
on
0 Posts
Charlie The Wonder D, you honor me calling me a baby boomer, if only. It is becoming obvious this current Govt would be flat out organising a r$ot in a brothel, won't worry me, to old to care, but for you young blokes, you and your families will be paying for it for many years to come, I admire your sticking to Labor, and hoping it will all come good, but it is starting to unravel, and is hard to stop once it gets going, seen it all before and the end never changes, Labor goes on a mad spending spree, Libs come in put money back in the bank for a few years, then it goes back to Labor for more of the same, yawn, somehow the country seems to survive it, probably due to the hard working people, who no matter what, turn up for work each day, despite those morons in Govt, who have no concept what so ever of real life. I hope your Labor party delivers, but wouldn't punt the house on it.
Rudd set to squeeze Ozzie Expats
Beware all those 23AG users!! It is all about to come crumbling down. Prepare for an exodus of pilots returning from abroad as it no longer makes fiscal sense to work overseas. Thanks Kevin... NOT.... as Borat would say.
From the Budget measures 2009-10;
Improving fairness and integrity in the tax system — better targeting the income tax exemption for employment income earned by Australians working overseas
Revenue ($m)
2008 09 2009 10 2010 11 2011 12 2012 13
Australian Taxation Office 215.0 225.0 235.0
The Government will better target the income tax exemption for foreign employment income, with effect from 1 July 2009. The exemption will apply to income earned as an aid worker, a charitable worker, under certain types of government employment or on projects that are in the national interest. This measure will have an estimated gain to revenue of $675.0 million over the forward estimate period.
The measure forms part of a package of measures to improve fairness and integrity in the tax system.
Currently, certain foreign employment income earned by Australians working overseas for a continuous period of 91 days or more is exempt from income tax. The original intent of this measure was to relieve double taxation, however, in practice little foreign tax may actually be paid on the foreign income concerned.
Instead, foreign employment income will generally become taxable and taxpayers will be entitled to a foreign income tax offset for foreign tax paid on the foreign employment income. This will relieve double taxation for those individuals.
From the Budget measures 2009-10;
Improving fairness and integrity in the tax system — better targeting the income tax exemption for employment income earned by Australians working overseas
Revenue ($m)
2008 09 2009 10 2010 11 2011 12 2012 13
Australian Taxation Office 215.0 225.0 235.0
The Government will better target the income tax exemption for foreign employment income, with effect from 1 July 2009. The exemption will apply to income earned as an aid worker, a charitable worker, under certain types of government employment or on projects that are in the national interest. This measure will have an estimated gain to revenue of $675.0 million over the forward estimate period.
The measure forms part of a package of measures to improve fairness and integrity in the tax system.
Currently, certain foreign employment income earned by Australians working overseas for a continuous period of 91 days or more is exempt from income tax. The original intent of this measure was to relieve double taxation, however, in practice little foreign tax may actually be paid on the foreign income concerned.
Instead, foreign employment income will generally become taxable and taxpayers will be entitled to a foreign income tax offset for foreign tax paid on the foreign employment income. This will relieve double taxation for those individuals.
Maisk Rotum
This has been done to death here and on the Fragrant Harbour forum. This new rule only applies to people who are “Residents of Australia for Tax Purposes”. If you are a “Non Resident of Australia for Tax Purposes”, like most Aussie’s living in Hong Kong or Dubai, it doesn’t apply to you. And before someone says what makes you an expert in this field? I use to be an accountant.
This has been done to death here and on the Fragrant Harbour forum. This new rule only applies to people who are “Residents of Australia for Tax Purposes”. If you are a “Non Resident of Australia for Tax Purposes”, like most Aussie’s living in Hong Kong or Dubai, it doesn’t apply to you. And before someone says what makes you an expert in this field? I use to be an accountant.
Prepare for an exodus of pilots returning from abroad as it no longer makes fiscal sense to work overseas.
I left a few years ago and wouldn't go back unless I had absolutely no other options. The advantages abroad have to be experienced to be believed.
Why stay and be milked dry by Krudd? He's already made it plain he's got high income earners in his sights.
I know someone who is $80 000 per year better off than he was in Australia, flying the same catagory of aircraft. Multiply that by ten years and add interest.
Join Date: Jan 2007
Location: Not where I want to be
Posts: 89
Likes: 0
Received 0 Likes
on
0 Posts
Leaving Australia does not mean that you can no longer vote. You are still an Australian citizen and that means you can exercise your democratic right and submit a postal vote.
Great to see this NON aviation related thread is still open.Maybe tailwheel has changed his mind and will now allow NON aviation related threads such as this in the future.
Nice to see such consistancy.
Rod H
Nice to see such consistancy.
Rod H
Join Date: Dec 2002
Location: Here and there
Posts: 59
Likes: 0
Received 0 Likes
on
0 Posts
As far as Australians working overseas, the ATO will tighten up the net to catch more people.
Many have been operating on the hope that they won't get caught.
Facts are ( from my legal and tax advisors...if you can believe them), If you are a genuine non resident , you do not return to Australia more than the maximum allowable days and you do actually pay tax somewhere, you have nothing to worry about.
If you spend your days off and on standby in Aust, pay '0' tax in say the M/East or spend your overseas time in shared accom or hotels........trouble, trouble,trouble. You can't have your cake and eat it to!
Personally, I happily live overseas, keep houses in Aust and abroad, and only return to Aust for visits.Expensive, maybe but, far less than paying the ATO and more satisfying.
I don't agree with the accomodation bit as you should not be discriminated against according to how you choose to live. Personally, I have chosen to live in hotels for extended periods ( up to 2 years) and find the lifestyle quite appealling.Minimalistic but, appealling.
Kojak spent 20 years in a hotel.
Check with your own accountants but, make sure they are up with it.
Many have been operating on the hope that they won't get caught.
Facts are ( from my legal and tax advisors...if you can believe them), If you are a genuine non resident , you do not return to Australia more than the maximum allowable days and you do actually pay tax somewhere, you have nothing to worry about.
If you spend your days off and on standby in Aust, pay '0' tax in say the M/East or spend your overseas time in shared accom or hotels........trouble, trouble,trouble. You can't have your cake and eat it to!
Personally, I happily live overseas, keep houses in Aust and abroad, and only return to Aust for visits.Expensive, maybe but, far less than paying the ATO and more satisfying.
I don't agree with the accomodation bit as you should not be discriminated against according to how you choose to live. Personally, I have chosen to live in hotels for extended periods ( up to 2 years) and find the lifestyle quite appealling.Minimalistic but, appealling.
Kojak spent 20 years in a hotel.
Check with your own accountants but, make sure they are up with it.
Join Date: Oct 2007
Location: gold coast QLD australia
Age: 86
Posts: 1,345
Likes: 0
Received 0 Likes
on
0 Posts
RodH, go and have a glass of milo there's a good chap. Most of us have the capacity to get our heads out of a flight deck or aviation for a few minutes, and we are certainly interested in what is happening politically as it affects our future, our jobs, (not for me) hence the future of Aviation in this country, which is of enormous importance to any aviator re his/her employment of the coming years, be they pilots, cabin crew or engineers, which probably explains why the moderator lets the forum run.
teresa.
I too am very interested in what these so called " financial experts " in Canberra are doing to our country.
What I am on about is the apparent lack of consistancy in the moderators actions.
I had a thread about the P.M's abuse of a F/A locked by the mods who quoted as below.
I would have thought that as it happened to aircrew on an aeroplane it was aviation related.
Having a P.M. who abuses his staff is very concerning .
As a leader of the country who can make changes that greatly affect aviation in Australia it surely is worth talking about, but not according to the Mods.
This thread is really non aviation related but if you follow a full set of steps I suppose you can eventually get it to be ever so slightly related to aviation as you eventually could with almost any topic.
Thats my gripe in this thread.
I suppose when I get to your age " milo" is the go but until then I will stick to red wine.
Rod H
The moderator posted this :
" When will you get the simple message that the issue of the PM's hissy fit has nothing to do with "Airline and RPT issues in Australia and enZed" and there is not going to be a non aviation political debate in this or any other PPRuNe Forum?
"
quoted :
I too am very interested in what these so called " financial experts " in Canberra are doing to our country.
What I am on about is the apparent lack of consistancy in the moderators actions.
I had a thread about the P.M's abuse of a F/A locked by the mods who quoted as below.
I would have thought that as it happened to aircrew on an aeroplane it was aviation related.
Having a P.M. who abuses his staff is very concerning .
As a leader of the country who can make changes that greatly affect aviation in Australia it surely is worth talking about, but not according to the Mods.
This thread is really non aviation related but if you follow a full set of steps I suppose you can eventually get it to be ever so slightly related to aviation as you eventually could with almost any topic.
Thats my gripe in this thread.
I suppose when I get to your age " milo" is the go but until then I will stick to red wine.
Rod H
The moderator posted this :
" When will you get the simple message that the issue of the PM's hissy fit has nothing to do with "Airline and RPT issues in Australia and enZed" and there is not going to be a non aviation political debate in this or any other PPRuNe Forum?
"quoted :
Join Date: Aug 2005
Location: Melbourne, oz
Posts: 294
Likes: 0
Received 0 Likes
on
0 Posts
On a personal level - Rudd's fiddling with superannuation will impact me a million times more than Howard's workchoice legislation ever would have.
Turnbull is unelectable - Costello is the lib's only hope of getting near an election win.
I am disgusted with Rudd's handling of superannuation. It is flawed policy just like workchoices was.
Turnbull is unelectable - Costello is the lib's only hope of getting near an election win.
I am disgusted with Rudd's handling of superannuation. It is flawed policy just like workchoices was.
Join Date: Oct 2007
Location: gold coast QLD australia
Age: 86
Posts: 1,345
Likes: 0
Received 0 Likes
on
0 Posts
RodH, I am with you on the KRUDD bad behaviour on the RAAF flight, none of us like to see cabin crew abused by a PAX, be they civil or service staff, regardless if the PAX does happen to be the Prime Minister, and it should have been allowed to run, I think most of us would agree it WAS a aviation matter but most of us are not the mods, who like airline managers move in strange and mysterious ways, but as stated before they obviously think it is important to the future of aviation what the pollies are doing today. Glad you are not drinking milo unless mixed with rum ,that stuff could kill you.
