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bobvonunheil posted:Can anyone with economic credentials debunk/discuss this article on franking credits? I don't think you need to effort debunk article on speculator and dickhead porno site Livewire markets.
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Sep 4, 2019 01:04
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But these areguments are just so reasonable
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Sep 4, 2019 01:42
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The idea of getting a tax refund from franking credits is too much but that article is pretty much spot on regarding the benefits of franking credits in the economy.
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Sep 4, 2019 01:48
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Les Affaires posted:The idea of getting a tax refund from franking credits is too much but that article is pretty much spot on regarding the benefits of franking credits in the economy. Yeah it's an argument of principles and benefits to whom.
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Sep 4, 2019 02:02
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norp posted:The issue isn't franking credits, it's being able to make your tax bill negative via franking credits. It always gets me how its just this very specific instance of double taxation that must be avoided at all costs, but there are plenty of other cases of double taxation that is fine and dandy and ok because it doesnt happen to rich investors.
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Sep 4, 2019 02:02
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The main thrust is that while the money sits in company structures, once it has been taxed it is free to flow around whichever company(s) have an ownership stake in the one that was taxed, so theres a rational discussion at every step as to which entity can better use the capital productively. By taxing it once, you encourage the money to flow to that entity instead of staying stuck at one layer. Once it goes out to an individual is when it is further taxed at marginal rates, so it discourages that until its absolutely necessary. Probably an effortpost in there for me sometime soon i guess, if people are interested enough.
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Sep 4, 2019 02:08
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Passive income should be taxed higher than working income.
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Sep 4, 2019 02:19
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Aesculus posted:Guarantee that the only reason his company's worth millions because his parents invested millions into it and manage most of the business. Surely not, he's definitely self made: "The 16-year-old Brisbane resident, who “always had a strong passion for business”, first created an app, Next Gifts, four years ago, with an investment of 500 Australian dollars (around 370 US dollars), which he made by selling lolly bags at his parents’ tennis centres."
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Sep 4, 2019 02:19
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hooman posted:Passive income should be taxed higher than working income. Passive income to individuals, companies or both?
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Sep 4, 2019 02:22
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Les Affaires posted:Passive income to individuals, companies or both? Both, as they passively await the fall of the guillotine blade
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Sep 4, 2019 02:31
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Les Affaires posted:Passive income to individuals, companies or both? Both probably? I'm not an economist, but it seems insane that money that people get from having money is taxed in the same way as money people get from doing things.
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Sep 4, 2019 02:31
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hooman posted:Both probably? I'm not an economist, but it seems insane that money that people get from having money is taxed in the same way as money people get from doing things. The way it is structured now is that as long as the money stays in company structures it is taxed at a flat 30% (or 28.5% for small business lol), regardless of how much it is. Once it crosses the line to individual earnings it is taxed at marginal rates. It encourages people with large investments to keep their money invested because if they distributed it all to themselves they pay the full 49% top marginal rate. In the past though, a company could be used to pay for all sorts of things like meals, travel etc, and that was killed by the introduction of fringe benefits tax. Anything that could remotely be seen as not for the use of production gets taxed at 49% or whatever the FBT rate is to discourage this behaviour. Yes, it still happens but the government gets their slice as though it was earned by a top earner. Should it be more than 49% for FBT and the top rate? Maybe. But thats not an argument against franking credits, or FBT for that matter. Both are there to try and encourage money to be used productively instead of for individual consumption and they work pretty well for that.
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Sep 4, 2019 02:50
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Les Affaires posted:The way it is structured now is that as long as the money stays in company structures it is taxed at a flat 30% (or 28.5% for small business lol), regardless of how much it is. Once it crosses the line to individual earnings it is taxed at marginal rates. It encourages people with large investments to keep their money invested because if they distributed it all to themselves they pay the full 49% top marginal rate. In the past though, a company could be used to pay for all sorts of things like meals, travel etc, and that was killed by the introduction of fringe benefits tax. Anything that could remotely be seen as not for the use of production gets taxed at 49% or whatever the FBT rate is to discourage this behaviour. Yes, it still happens but the government gets their slice as though it was earned by a top earner. If you want the money to stay in the business why not remove franking credits to further incentivise it to stay there? EDIT: Thanks for the explanation. p.s.
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Sep 4, 2019 03:01
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hooman posted:If you want the money to stay in the business why not remove franking credits to further incentivise it to stay there? The general idea is that every time there is a taxable amount that discourages movement of the money. don’t think company -> individual, think company -> parent company, or company -> holding company. The parent or holding company has some say over whether that money comes out or is reinvested in that same business, so theres usually a discussion of “where is this money better allocated?” and simply by having that discussion you prompt better decisions than just “lets keep it because TAX” like what happens in other jurisdictions. The comparison in the article to the US is because companies like Apple keep huge “warchests” of cash sitting there without any plans of what to do with it because the most rational thing to do was keep it instead of distribute it and have it be taxed again. I will do some diagrams later (im coming home from holidays right now) that should explain better.
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Sep 4, 2019 03:10
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Les Affaires posted:The general idea is that every time there is a taxable amount that discourages movement of the money. don’t think company -> individual, think company -> parent company, or company -> holding company. The parent or holding company has some say over whether that money comes out or is reinvested in that same business, so theres usually a discussion of “where is this money better allocated?” and simply by having that discussion you prompt better decisions than just “lets keep it because TAX” like what happens in other jurisdictions. The comparison in the article to the US is because companies like Apple keep huge “warchests” of cash sitting there without any plans of what to do with it because the most rational thing to do was keep it instead of distribute it and have it be taxed again. Isn't the solution to that a hoarding or wealth tax on companies, rather than making it cheaper to transfer it. Make it more expensive to not transfer it. A lot of my experience of money transfer within companies has been price transfer in order to reduce tax burden. What a surprise that our Singapore based parent company made huge profits meanwhile the Australian subsidiary made losses! Or is that an enforcement issue rather than a structural one. Although I'm not really sure how you can enforce a lot of that since the prices companies set can be so variable. urgh. It's almost like this whole structure of companies and sub companies is built to minimise tax burden and facilitate wealth transfer from poor to rich.
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Sep 4, 2019 03:18
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Sponsored by the Rockhampton Morning Bulletin
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Sep 4, 2019 03:36
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Kill me
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Sep 4, 2019 03:50
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Gridlocked posted:Sponsored by the Rockhampton Morning Bulletin Too bad we banned the C word because this bloke is a loving dumb c
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Sep 4, 2019 03:51
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Gridlocked posted:Sponsored by the Rockhampton Morning Bulletin My mobile phone became obsolete so I went back to a landline - a boomer probably
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Sep 4, 2019 03:57
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JBP posted:Too bad we banned the C word because this bloke is a loving dumb c  Do it jbp I believe in you. If you get features in the texts collum within the next week I will buy you a new avatar or something. That goes for anyone btw. Gridlocked fucked around with this message at 04:17 on Sep 4, 2019 |
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Sep 4, 2019 04:11
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Gridlocked posted:
Can't text, I only have a landline now.
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Sep 4, 2019 04:18
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https://www.canberratimes.com.au/story/6366738/federal-police-raid-commonwealth-officials-canberra-home/ The Australian Federal Police is raiding the home of two Commonwealth officials in Griffith in Canberra's inner south. One of the occupants was a senior adviser in the Office of the Minister for Defence Materiel and Science, while the other was a senior career officer with the Department of Foreign Affairs and Trade. It is unclear whether the adviser still works in the minister's office. Police will not say what prompted the raid on Wednesday, nor who the target was, but said the search warrant did not relate to any current or impending threat to the Australian community. "As this is an ongoing matter, it would not be appropriate to comment further at this time," an AFP spokesperson said. Police officers carrying bags of evidence were seen leaving the property, AAP reported. The operation comes three months after federal police raided the Canberra home of News Corp journalist Annika Smethurst and the Sydney headquarters of the ABC. The consecutive June raids were in relation to separate stories based on leaked government information.
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Sep 4, 2019 04:48
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Meanwhile, what's happening in Perth? The Age posted:Perth vegan takes neighbours to court over barbecue smell
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Sep 4, 2019 05:14
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Does the acknowledgement of Aboriginal lands thing actually mean anything? Is it just a tokenism thing or is there a donation involved or something? I ask because I started listening to Well May We Say podcast again and Jeremy Sear has begun to start his podcasts with them. I never really thought about them when I was listening to University lectures or whatever and they had them. Just felt like something they did - ordered to by the bylaws, perhaps. I mean it's nice they acknowledge Aboriginal owners from a couple of centuries ago, but does this practise do anything to help the Aboriginals alive today?
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Sep 4, 2019 05:14
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https://australianstogether.org.au/discover/indigenous-culture/understanding-welcome-to-country/quote:Can this practice help address Indigenous disadvantage?
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Sep 4, 2019 05:21
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Materially? No. In terms of recognition I'm led to believe that acknowledgement of country (or welcomes to country, for that matter) are intended to be gestures of respect, and are probably good for that. ^^^ or what Bell Jar said better.
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Sep 4, 2019 05:29
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The guy that gave the welcome to country at my wife's graduation was awesome, he got super real about massacres and stolen land and genocide, it was great
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Sep 4, 2019 05:38
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It's definitely the way forward, especially when you look at the white blindfold, never acknowledge type stuff that preceded it.
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Sep 4, 2019 05:49
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It's definitely important to do an acknowledgement of country, which can be done by anybody, as opposed to a welcome to country which must be done by an Aboriginal Elder or custodian of the lands that are being met on it's also important to tailor the acknowledgement to what you are actually meeting for and to make sure that it is genuine, there is nothing worse than an acknowledgement that is just listed off at the start of a meeting, for example in the placement I am doing at DCJ I would acknowledge the past injustices done to Aboriginal people by the government agency and make a point of trying to not make the same mistakes moving forward
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Sep 4, 2019 06:05
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yeah we got a super great speaker for one of the campaign launches last year, real fire-spitter of a lady. raw as hell.
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Sep 4, 2019 06:07
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loving lol check out this ad that started appearing on my twitter feed today     that's it. that's the whole ad
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Sep 4, 2019 08:00
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 conscription for newstart recipients by 2021
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Sep 4, 2019 08:03
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nankeen posted:loving lol check out this ad that started appearing on my twitter feed today Just ignore the bit about the rampant sexual harassment, near guaranteed PTSD and complete and utter lack of support once you get back from deployment. Think about that sweet sweet paycheck.
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Sep 4, 2019 08:15
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Get a house or die trying - The Army.
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Sep 4, 2019 08:16
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I vaguely remember one a while ago that was like a lady in camo overlaid with "I got a free degree in orthidontistry" And the American ones are like fighting lava dragons in big football arenas and the Chinese ones are like "My son will forget my face because I am the righteous steel arm of all Chinese families" https://www.youtube.com/watch?v=l_qr-4AKM18 The Peccadillo fucked around with this message at 08:18 on Sep 4, 2019 |
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Sep 4, 2019 08:16
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The Peccadillo posted:I vaguely remember one a while ago that was like a lady in camo overlaid with "I got a free degree in orthidontistry" Epic.
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Sep 4, 2019 08:20
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Lmao https://www.youtube.com/watch?v=yotXRoLxFdY
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Sep 4, 2019 08:21
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Bring back the full on Terry Crews dude yelling "THE FEW THE PROUD THE MARINES" at the end imo
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Sep 4, 2019 08:34
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NPR Journalizard posted:Just ignore the bit about the rampant sexual harassment, near guaranteed PTSD and complete and utter lack of support once you get back from deployment. Think about that sweet sweet paycheck. this is my stepbrother: joined the navy to become an electrician as navy pay was better than apprentice pay got put on opperation sovereign borders, has low key PTSD that will probably ramp up to full blown trauna and problems in a few years.
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Sep 4, 2019 08:35
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Breaking Hong Kong 'to withdraw' China extradition bill as Beijing bows to protesters afters months of demonstrations Via The Independent
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Sep 4, 2019 08:40
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