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I'm phone posting and not smart but my understanding is that returning share imputation to the pre Howard system would still result in motivated investors because the value is there, but remove excessive government funded cash returns that no other system shares. E: as in there is value in investors seeking dividends. JBP fucked around with this message at 00:31 on Mar 13, 2018 |
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Mar 13, 2018 00:28
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Birdstrike posted:Imagine if syd/melb had train lines that linked middle/outer suburbs that didn’t just funnel people into the CBD. Guess what Perth is getting.
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Mar 13, 2018 00:33
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Konomex posted:Guess what Perth is getting. Metronet! Honestly we should have started it ten years ago. Except that would have meant less money for stupid projects that nobody really wanted like Elizabeth Quay and other ribbon-cutters for Colin Barnett.
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Mar 13, 2018 00:37
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The value is still there for people who can claim the franking credits to reduce tax burden, which labor is not removing. The cash refunds are only in the case of someone claiming a total income of less than $18k. This would be roughly $500K invested, give or take. If a couple was pulling this evil stunt between the two of them, they would have maximum combined share assets of roughly 1 million. Of course this imaginary couple probably shouldn't have invested their entire portfolio on the basis of receiving franking credits, and anyone who puts all their money into Australian shares, franking credits or no, deserves to have their money taken away from them. Still, my point is that is totally disingenuous to say this is targetting the 'rich end of town', who will still use franking credits against their tax burden til the day that they die, comfortably laying in their grave far above the tax-free threshold.
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Mar 13, 2018 00:37
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Righto I get you now. My position is still beep boop gently caress the boomers, but I didn't understand that aspect of it.
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Mar 13, 2018 00:43
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Chadzok posted:anyone who puts all their money into Australian shares, franking credits or no, deserves to have their money taken away from them. Lol wut
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Mar 13, 2018 00:57
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diversify, mr. lizard. 100% of anything is dumb and that example relied upon it.
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Mar 13, 2018 01:02
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Chadzok posted:The value is still there for people who can claim the franking credits to reduce tax burden, which labor is not removing. The cash refunds are only in the case of someone claiming a total income of less than $18k. This would be roughly $500K invested, give or take. If a couple was pulling this evil stunt between the two of them, they would have maximum combined share assets of roughly 1 million. Also:- 
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Mar 13, 2018 01:03
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Birdstrike posted:I am bathing in the ocean of boomer tears shed over the ALP abolishing excess franking credit refunds. Morrison seemed pretty happy during his little press conference but seem distinctly less impressed when the reporters there started questioning him.
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Mar 13, 2018 01:05
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Mar 13, 2018 01:08
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you are probably right, although I think there’s much bigger fish to fry. Still, if that’s the intention of the policy (fix budget deficit), it should be broadcast as such. Maybe it’s the fault of the reporting. It usually is. I would support an expanded policy which also limited the tax benefits of franking credits, or hey, just removed them altogether. As it stands, it fucks a small number of not particularly well off people and leaves the truly wealthy entirely unaffected. bambi with a helmet I do not grok Chadzok fucked around with this message at 01:14 on Mar 13, 2018 |
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Mar 13, 2018 01:12
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There may be bigger fish to fry but I reckon Labor have been doing a pretty good job of looking at the minutiae of the tax and transfer system and working out where they can squeeze a few bucks without too much pain all over. They have that luxury because of their constant commanding lead in the polls. Removing franking credits completely would just make more business investors stick their head up and demand further company tax cuts which we probably don't need.
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Mar 13, 2018 01:38
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Chadzok posted:bambi with a helmet I do not grok  Unrelated trolling for ongoing transportation chat
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Mar 13, 2018 01:41
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I have all my money in Australian shares ask me anything.
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Mar 13, 2018 02:22
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Endman posted:I have all my money in bitcoin ask me anything. https://twitter.com/Leroy_Lynch/status/973347500424704000
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Mar 13, 2018 02:30
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If Labor were serious about the budget deficit they'd roll back the howard era tax cuts. But har har har. We'll pay for boomers profligacy forever. Also regarding infrastructure, it's generally understood that infrastructure spending provides ROI of about 1.4 unless your infrastructure is already great, so saying population growth needs more infrastructure therefore may end up not gaining us anything is arguing from flawed assumptions. I'm not a population scientist or researcher, but I'd imagine the papers about it would take those things into account, as long as they're not being written by the IPA.
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Mar 13, 2018 02:32
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Chadzok posted:you are probably right, although I think there’s much bigger fish to fry. Still, if that’s the intention of the policy (fix budget deficit), it should be broadcast as such. Maybe it’s the fault of the reporting. It usually is. The ALP has already got somewhat of a banking royal commission, are going after family trusts, is probably going to reintroduce an ETS and go after multinationals far harder than the Coalition. They seem to be turning up the heat on quite a few big fish - from opposition to their credit.
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Mar 13, 2018 02:44
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A Western Queensland town that is already struggling to get young people to live and work there, is now one family less, after Border Force kicked in the front door of a family of Sri Lankan asylum seekers who’s visa had expired by 24 hours. Nadesalingam and Priya, and their children aged two years and nine months, have lived in the remote Queensland town of Biloela for several years. That was until Australian Border Force officers, police and Serco guards raided their home at dawn last week, taking the husband and wife and their two Australia-born children into custody. Dutton has today praised the work of his gallant Border Force soldiers for opening up a job at the Teys meatworks in Biloela, where Nadesalingam was employed as a labourer. “Today, a coalition voter now has the opportunity to find work in a town 200km west of Rockhampton. That’s why we do this” “And for that, I applaud the brave people who drove across the country to this sleepy rural working class town to rectify the wrongs perpetrated by these aliens” Dutton went on to explain why it is so important to deport migrants the moment they show signs of struggling in their dealings with the bureaucracy that makes up the immigration department. “This week, we opened up a job that was undeservedly given to someone who was unable to travel 1800 kilometres to Sydney and update his Visa in time” “That’s one less working class family that doesn’t deserve to be living in Biloela, by birthright” “If there are any other unorganised subcontintentals hiding in the 15,729 square kilometres that make up the Banana Shire…” “…We will find you and we will send you back to the political unrest in which you desperately fled in search of a better life sweeping up cow guts”
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Mar 13, 2018 02:53
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It's a devastating sign of the times I didn't get it until more than halfway.
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Mar 13, 2018 02:56
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I thought the biggest rort with the franking credit refund was people with large SMSFs. Since the profits of your super are only taxed at 15% it means that investors get about half their franking credit back. This was sometimes in the $100,000's per year for some of the bigger SMSFs. I do agree that it does generally hurt people who are earning less than $37,000 a year (tax bracket of up to 19 cents on the dollar) who have some NRMA or AMP shares they were given than it will people with large portfolios. The fairest thing to do would be to scrap the franking credits all together as they shouldn't exist in the first place. I say this as someone who has a fair chunk of their saving in Australian shares.
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Mar 13, 2018 03:14
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If you’re a boomer with 1 mil in your super fund surely it’s not that bad if they’re drawing down on these funds instead of a “modest” income from dividends and franking credits.
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Mar 13, 2018 03:23
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hooman posted:If Labor were serious about the budget deficit they'd roll back the howard era tax cuts.  Not all but ffs.
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Mar 13, 2018 03:38
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bigis posted:If you’re a boomer with 1 mil in your super fund surely it’s not that bad if they’re drawing down on these funds instead of a “modest” income from dividends and franking credits. Exactly. Super wasn't intended as an estate planning mechanism it was for income for individuals and couples as they retire. The assumptions inherent in the original model was that it should last for most of your needs until you pass away, assuming nothing was left over at the end.
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Mar 13, 2018 03:42
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Les Affaires posted:Exactly. Super wasn't intended as an estate planning mechanism it was for income for individuals and couples as they retire. The assumptions inherent in the original model was that it should last for most of your needs until you pass away, assuming nothing was left over at the end. Since I hate myself, I read Money Magazine. One of the funniest things published there was a 70 year old writing in to complain about how he couldn't hide even more assets in super due to his age and one of the editors putting the smackdown on him. The exact wording escapes me, but it was basically "cry me a loving river, you're in an amazing situation, stop complaining". There might have been an implied ("because you'll make the general public twig that super is inefficient and should be scrapped"), too.
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Mar 13, 2018 03:57
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The royal Commission is on the tv  fuckers.
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Mar 13, 2018 04:07
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gay picnic defence posted:How much growth are they creating though? If a 1.5% increase in population through immigration is producing a 1.5% increase in GDP all it's doing is costing more in infrastructure and papering over stagnant economic growth in other areas. https://twitter.com/BenPhillips_ANU/status/973148172955430913
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Mar 13, 2018 04:22
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Kill all boomers
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Mar 13, 2018 04:46
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I always knew old people were crazy about franking credits, but I never understood why.quote:On franking credits, as a young analyst in the 1990s I remember trying to convince a retail stockbroker to buy a security for his clients that had an unfranked yield of 9% vs another security (from the same company) with a 5% yield. I think the conversation went: https://www.macrobusiness.com.au/2017/07/death-death-tax/
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Mar 13, 2018 04:57
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G-Spot Run posted:It's a devastating sign of the times I didn't get it until more than halfway. Get what? Dutton is really riding hard on this 'anti brown' thing.
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Mar 13, 2018 05:07
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I would blow Dane Cook posted:I always knew old people were crazy about franking credits, but I never understood why. https://www.youtube.com/watch?v=gemNU9mTsig
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Mar 13, 2018 05:10
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http://amp.abc.net.au/article/9538316 Thought of the day: the royal commission into banking might actually lead to the recommendation banks all being forced to have API's and share data with each other upon request, so they can independently verify borrowers capacity to pay, instead of relying upon the borrower being forthcoming. Yeah yeah I know big data is bad but they're using it already, might as well use it to ensure people buying houses and cars aren't being preyed upon.
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Mar 13, 2018 05:41
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http://www.abc.net.au/news/2018-03-13/neil-erikson-childish-court-wears-toll-vest/9542114quote:A judge has described far-right activist Neil Erikson as "childish" for attending court wearing a high-visibility vest from his former employer, Toll.
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Mar 13, 2018 06:14
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My first car was a stick
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I would blow Dane Cook posted:I always knew old people were crazy about franking credits, but I never understood why. Australians are obsessed with their tax returns. Even I feel stupidly smug when I get money back from the ATO. Feelings always trump logic.
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Mar 13, 2018 06:17
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Victorian Nationals MP Tim McCurdy has been charged by Victoria Police in relation to a property sale he conducted as a real estate agent before entering parliament.
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Mar 13, 2018 06:24
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https://mobile.twitter.com/BrendanDonohoe7/status/973428498550333440?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet "Melb City Council investigation: Four adverse findings against Robert Doyle. Three of sexually inappropriate behaviour and one of consuming red wine before they occurred."
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Mar 13, 2018 06:33
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This thread the last three pages:
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Mar 13, 2018 07:01
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drunkill posted:This thread the last three pages: thx you for doxxing me
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Mar 13, 2018 07:04
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Whitlam posted:https://mobile.twitter.com/BrendanDonohoe7/status/973428498550333440?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet idiot. it's white wine with sexual assault.
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Mar 13, 2018 07:05
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https://twitter.com/Leroy_Lynch/status/973347500424704000
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Mar 13, 2018 07:21
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Anidav, have you contacted the RTA yet? Also, every day you ignore this boomer rentseekers win.
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