What are you guys spending your free $1080 on??? Probably not many people will get is since majority of the ozbargainers here earn > $125K HAHAAH
What are you guys spending the free $1080 on???
Homr on 04/07/2019 - 21:58
Last edited 04/07/2019 - 23:04 by 1 other user
Last edited 04/07/2019 - 23:04 by 1 other user
Comments
Going to go to paying increasing; power bills, fuel, tolls etc….
Not going to stimulate anything other than monopolies….
coke & hookers ofc. wat else…
T-bone steak after?
nah, smash avo after
I get nothing back :(
Same :(
Most likely will be split between savings, voluntarily super contribution and HECS debt. Wild!
So do we get this during our Tax Return?
As part of tax return, if eligible
Wait how is this free? They were over taxing my income to begin with!
It's free because you are getting what many others who do nothing or make poor decisions are not getting.
How dare you think your money is more well deserved just because you took risks and/or worked for it.
missing the /s?
Let every man take from this the message he needs to hear.
Or woman.
Or both. Or none of the above.
Hookers.
They then spend it on alcohol and drugs. Drug dealers then spend it on more foot soldiers due to increased business. Foot soldiers spend it on gold chains which helps jewelry stores. Jewelry stores employ more staff etc etc.
This is known as trickle down economics according to Liberal party
Actually, that's an example of demand-based economy. Trickle-down economics is supply-side.
BILLS BILLS AND BILLS. Though I don't qualify.
Going straight into my "Medical Assistance Dog" fund :)
I am going to get half a graphics card with my $1,080.00.
"Battlers" receive all sorts of other concessions that do not extend to those benefitting more from this tax cut.
Those concessions are worth more.
Get a better job.
The tax free threshold is over $18k. With low income tax offset you pay $0 in tax. Why would you possibly get $1080 if you payed $0?
But you get to keep almost everything you earn!
I've been 'battling' to afford a house for years - the money might help marginally
I feel your pain, I don't get it either because I make $140k a year :(
Gonna buy some snowflakes.
putting it straight back into the mortgage- like any sensible person would
I was considering looking at solar.
Do it. Best investment I've made in terms of reducing household expenditure. Roi was under 2 years.
Get out of here with your reasonable adult answer!
Buy a GTX 1080 card
Supa
Supra?
New tattoo, cashed up bogan style.
Probably donuts? Cuz that's what I'll be getting…
Small business owner, will get nothing ;)
A little less than that if you count STP.
I think you are supposed to get the benefits of ppl having more money to spend.
I might stimulate the Balinese economy with this refund haha
Jiggy-jiiiiig!
I'm going to assist families in rural thailand
Why you gonna give some Thai ladyboy your money
Hookers and cocaine.
'Stimulate' the economy
@lonix…and waste the rest
(profanity) the Murdoch coalition. (profanity) all you selfish neolibs. Socialise the costs, privatise the profits. Goodbye healthcare it's been nice knowing you.
I don't mind this current tax cut. It makes sense. The Medicare levy has increased and with bracket creep, a lot of people are spending a lot on tax.
Most of my coworkers do two jobs to try and get ahead and the extra they earn gets taxed too much imo. Reform is good.What is not good, is reducing the tax of people who earn very high incomes to the same percentage of those on medium incomes. That's where most of the cost of this package is going and it's a big mistake. Luckily we have until the mid 2020s to stop it.
They probably should have tied tax brackets to inflation instead and not forgone revenue
Probably. But the current legislation is based upon Morrison farting economic rainbows through to the mid 2020s. They set the budget up so it would be a disaster under a Labor govt, except now they're the ones in charge. Oops.
Net positive reform is good, but tax cuts to appeal to the simple notion that is heavy in australia that "tax is bullpoop" & "We shouldn't have to pay tax and sort our selves out" crowd pisses me off. Selfish voting, thinking bringing others down will help me out, when the point of an economy/country is that we all rely on eachother and are tied together no matter what.
when the point of an economy/country is that we all rely on eachother and are tied together no matter what.
Except there's no "relying on each other" in the current progressive tax system. It's "bottom 40% of the population rely on taxes paid by the top 20%."
@HighAndDry: The system set up the top to benefit from the large majority of their non-taxed wealth, Handouts come in many forms.
@abuch47: You can't just handwave it as "the system is set up….".
The rich pay more tax. The bottom 40%-60% basically pay zero net taxes. The second highest 20% pay their own way, and the top 20% subsidises everyone.
It doesn't matter how much of their wealth is "taxed", this is the actual absolute amounts that they pay, in actual dollars.
Don't take my word for it, here's the ABC:
https://www.abc.net.au/news/2018-05-22/tax-paid-by-the-wealt…
It found the wealthiest bucket was responsible for 79 per cent of all personal income tax this yea
Each 'bucket' is 20%.
@abuch47: By bottom-feeder, did you mean the bottom 60% of all individual tax payers? That's not very nice…
But you've also got how the rich use trusts wrong. A common method is to set up a tax for the whole family, and then apportion income (of potentially just one individual) between all the family members to decrease the marginal rate of tax. Roughly.
This is literally a tax cut to everyone - aka socialised profits.
What free $1080?!?
I won't see it so cannot spend it.
How much is a Tesla Model 3?
Ah found the price. Just 67 more stimulus packages to go.
Probs go stimulate the American economy with mine. Or the Chinese.
Doesn't GST impact poor people more than rich people?
Clearly yes.
It's flat 10%, it affects everyone at a rate of 10% of the price of the goods or services they have purchased.
If only everyone's income was a flat amount with no variance.
Seriously? So the lazy, stupid and unambitious should get payed as much as hardworking, ambitious and risk taking people? Where exactly would the incentive be to work hard?
We should have a flat tax rate so you don't get penalised for hard work.
@brendanm: No, I see what you're saying. Then people wouldn't have motivation to become doctors and engineers. I don't think GST is fair as it applies to goods and services. Poor people are already doing it tough. GST isn't a tax on earnings.
@relentless: There would be no motivation to do anything but the bare minimum, we work have no technological, medicinal etc advancement.
Gst is a tax on everyone. It is applied 100% evenly.
@brendanm: https://everydayfeminism.com/2014/09/equality-is-not-enough/
You're right, it's equal. It's not equitable though, which is what is being argued.
If I earn $1 a day and buy a bag of chips for $1.10, GST is 10% of my daily income. If I earn $10 a day and buy the same bag of chips, I've spent just 1% of my income on GST. The cost is the same either way, but it has a lot bigger impact on my finances if I only earn $1 a day.
@Alzori: The person earning $1 a day pays no income tax, the person earning $10 is paying 30% income tax. So even if all he buys is that packet of chips, he is still paying $3.10 in tax compared to the 10c payed by the first person.
Everyone wants to fight for equality, until equality isn't enough, everyone should have the same regardless of their personal choices or work ethic.
It isn't equitable that I work a 40 hour week and don't have a Ferrari, while Bob down the road works a 40 hour week and has a Ferrari. Doesn't matter if I dropped out of high school and now work at pizza hut, while Bob studied hard throughout high school, then did 10 years of training to become a surgeon. I still deserve that Ferrari as I work the same amount of time.
The GST isn't a flat amount, it's a percentage. It depends on how much you consume.
The thinking is that lower income earners typically spend all their money so all their money is taxed an additional 10% whereas higher income earners don’t spend all their money so all their money isn’t taxed an additional 10%.
Higher income earners are being taxed a hell of a lot higher than 10% on their income tax, as well as paying the 10% gst, and they likely pay for more goods and services.
@brendanm: And, of course lower income earners are being taxed higher than 10% too.
The gst is ADDITIONAL tax to income tax…. it should be obvious that a larger proportion of a lower income earner earnings is paid in gst than a higher income earner pays (as they don’t need to spend it all).
I can’t be any clearer.
Google: regressive tax
@Eeples: I understand what a regressive tax is. Low income earners pay little to no income tax. High income earners pay a lot of income tax. 10% get + 0% income tax is a lot better than 10% get + 30% income tax.
You could always try Europe where their VAT is 20% from memory. They must really hate low income earners.
@brendanm: The better argument, of course, is that lower income earners don’t actually pay much GST. As essential food and tampons don’t attract it. (Unless, of course, you think they spend all their money on cigs and booze)……. I know…. you should use both arguments to put poor ppl in their place even though it doesn’t make sense.
@Eeples: With the cost of groceries nowadays it's probably cheaper to buy KFC meals to feed a family, which would attract gst.
You are the one mentioning poor people constantly. I only said that people on higher incomes shouldn't be taxed as highly, not that the poor should've taxed more. Some people don't seem to understand these are two different things.
Of course that the point, cuts for the rich.
Why should they have to pay for welfare… but ermagerd childcare subsidy is too low, super, pension, etc I want, I deserve yadda yadda. Just work hard, damn millenials and poor people just get a job ya bums.
No money back for me. :(.
You either make too much or too little, I hope you are the former.
That applies to a lot of ozbargainer here.
What free $1080….where do I get mine??
It's not $1080 and it's certainly not free.
Then why did the post say $1080 and if it's not free how come the title says "free $1080"? Explain.
Cause OP and most people only read the article headline and not the article itself. It's a $550 tax offset on top of the existing $530 and its not free cause it's money taken from you already.
@umoddbro: Oh….so it was clickbait…..nice….
Well I guess I won't be getting any since the only tax I pay is GST on goods and services….unless I am able to claim my $1080 from those?
More crypto
Towards first house.
And the obligatory hookers n blow.
my $835 Rego so i can drive on congested roads in Victoria
Looks like a stimulus repackaged from K.Rudds $900 handout 10 years ago. Bought the 50" Samsung then like everyone else, and that Tv is still going strong. Will probably save the money this time for the rainy days ahead.
Rudd's was a once off refund designed to stimulate the economy. The coalitions is a permanent reduction in government income in a time of "budget emergency".
my understanding is that the $1000 isn't permanent just stage 2 and 3.
Don't be ridiculous. There's only ever a budget emergency when Labor is in power.
Yeah it's basically the same, except that it's permanent, gives more to higher income earners, and cost 3 times as much. It will also continue to pay out to higher earners after the 'budget emergency' is over.
It'll be interesting to see what they cut to get a surplus, to offset this.
The vast majority of tax payers dont earn enough to receive this amount of "refund".
Yeah don't you need to be a dual income household over $50k each to get that amount?
Every second article I'm reading says people are gonna buy Tv's lol it'll cover two electricity bills for me and some bills…
Invest your refund into solar then.
I wish i could, I'm renting. If I owned it insulate the hell out of it and get solar and a battery. Seems like this tax refund will push me into the bracket of paying back HECS so not much of a refund for me haha
Put it into your savings to buy a house with solar then, government seems to be making that easy with only 5% deposit and no lmi needed now. Don't get a battery though, complete waste of money.
shes paying for some flights for us, so all good