Federal budget night tonight, and as what we had done in the past (2020, 2019, 2018), here's this year's Federal Budget discussion post.
Lots of spending on the way for the recovery. On there individual level there's an income tax offset of $1080 or those earning between $48k to $90k.
Good, bad or just meh? How are you affected?
Sounds like a good problem to have.. no? >126k is a great income imo!
Maybe ask for a pay cut.
Lol at all the downvotes.
I suffered during the pandemic too. I had a salary reduction and other things. And now I don't benefit from any tax concessions because I earn just over the threshold.
Sounds like you’re doing ok champ. Perhaps let those who deserve it a little more than you get a break.
Overall I think it's good. Especially the apprenticeship wage subsidies to boost employment for young people. Working in a sector that's very hard to be employed in this is quite essential.
An extra $1.9 billion will be spent on our vaccine strategy over the next five years, with the government also confirming it's set aside a pool of money to invest in mRNA vaccine production in Australia.
This is excellent news. Combined with some states bringing the "phases" forwards by months to get more vaccinated we're on the track to recovery.
Good budget - this government has done a pretty good job (im sure ill get downvoted for this)
It concerns me how incompetent the federal opposition is…. They jumped up and down that the end of job keeper would result in high unemployment ….the exact opposite happen…the ALP needs to get its sh*t together
Lol, "employed" simply means someone does 1 hour paid work a week.
I agree the metric is broken but it is how we have measured unemployment for over 50 years…
Yes, so "actual" unemployment could be far higher. Or it may not be.
@brendanm: Actual unemployment is exactly what is stated the issue is 'under employment' which is something that is not well reported in Australia
@Trying2SaveABuck: I personally don't class someone working 1 hour a week as "employed". It's just another number that's manipulated by either side depending on what they wish to show at that time.
@brendanm: As i said i dont agree with the metric they use and personally think itbshouod divided in to full time >37.5hrs, part time 16hours at or less then 16 hours
It would give a better picture of the employment market is going but as i said it is how we have done it for years and you can only judge a government on the info at hand.
The issue with most people these days is they are either ALP or LNP - when really we need to just look at the facts to determin who is doing a good job or not
@Trying2SaveABuck: Alp and lnp are both crooks who will manipulate any figures give to work in their favour.
@Trying2SaveABuck: So then it's silly to get upset at the opposition. It is basically their job to say the opposite of what the ruling party says. Then if they are correct, they get to say "I told you so" and can bring it up come election time. If they are incorrect, it doesn't matter, and everyone forgets about it come election time.
@brendanm: That is incorrect the opposition job is to provide a better solution to the current problems - sometimes there isnt a better solution thus the opposition should agree with the current party in power
Ill give you an example Party in power says people killing kittens for fun is bad. It would be f**ken stupid for the opposition to say 'no killing kittens is good' - Instead the opposition should be like 'we agree people killing kittens are bad, however to protect kittens we suggest the current govt does XYZ'
Our current opposition doesnt seems to understand that - they just as you say oppose everything opposed to bring better solutions
Green energy is a big weakness of the LNP but i feel the ALP have no idea how to exploit it because they simply 'support green energy' but lack any understanding on how to make it more viable in Aus. - Simply put the ALP just want to remove fossil fuels coal etc (which will hurt jobs) but offer nothing in the front of well thought out policy as to how using new renewable will create jobs - im 100% for a better environment but nether ALP or Greens have any ideas that are good for it - and IMO LNP are terrible for the environment
@Trying2SaveABuck: Our current opposition doesnt seems to understand that - they just as you say oppose everything opposed to bring better solutions
Look at the supposed media for Australia's problems you describe
How on earth does it become a labor problem when they haven't governed for eight years and yet beloved morrison cant do no wrong?
60+k for internet verse 4 watches legally given
30 mill for for a piece of land worth 3 mill
Rape in Canberra and not a single person charged
80 mill of evaporation
Billions in sports rorts community safety rorts
millions to rupert in funding and now google to pay them
Empathy courses online for heavens sake
back as to why labor are not saying much because if they do the media go all mongrel on them while keeping the halo above morrison and his crime gang
@Loot N Plunder: I agree with everything bar the 'rape in Canberra' the police dropped the investigation
If anything the 'trail by media' is a disgrace
I dont believe Higgins - i am a believer of innocent until proven guilt and the evidence suggest she a talking out of her ass but you cant say that without the media having ago at you these days
Once again i dont support either party but imo the '3m of land' should of be JUMPED on by ALP
@brendanm: The only EVIDENCE is a video of her and the alleged the Perpetrator drinking at a bar sitting 'close' and a security guard who opened the door of her in a office laying naked.
why did she drink so much? Why was she out drinking with him at all?
how did she end up back in the office? - she must of 'agreed' to come back with him?
If you drinking with someone and spending time with them in a room alone that isnt consent for sex but it isnt necessarily 'resisting' sexual advances? there are two sides to every story and from where im sitting her side is full of holes but the media, has ZERO balls to question her in fear of backlash from the Me too crowd.
IMHO it is just as likely (if not more) - Brittney was drinking and flirting to try 'advance her career' something that didnt end up happening - instead she she sex with man and she tossed her aside thus she has orchestrated where she is the victim to make her self relevant.
If she has ruined a mans career and the media has 'jumped on this' which IMHO is a disgrace
The biggest thing ill add is if she wat raped how come in 5 years there has been NO ATTEMPT to silence her? no attempt to 'pay' her off? if it really did happen and it was me i would be PARANOID that this women would destroy my career, my family, my reputation. - too me it seems more likely the sex was 'consensual' at the time but Brittany regret it days/weeks/months later
@Trying2SaveABuck: How things should work, and how they do work, are unfortunately very different things. Politicians are also meant to act in our best interest.
It concerns me how incompetent the federal opposition is….
Same happened in the very recent TAS state election. An awful amount of internal fighting among the factions of the ALP resulted in the LNP winning the election and the Premier getting another term.
Its probably the opposite in WA where the ALP are doing well and the LNP are hopeless.
At least you dont live in Victoria the state were doesnt matter who you vote for they are both hopeless!
Yes I was in Victoria recently and speaking to the locals I was truly horrified and speechless at how incompetent Dan was at handling COVID. The Tas ALP mirrored a lot of his views around COVID and that resulted in their popularity crashing hard.
@Clear: Dan is probably the worst Premier we have had in my life time but our opposition leader is pretty hopeless…. Sadly i think Victoria is mega f**ked
@Trying2SaveABuck: Can you please elaborate on why you think he's bad? Aside from the COVID-19 debacle, what has he done to ruin the state?
I'm currently in Sydney, if you would like to swap places let's do it. Although your salary has to match mine.
@Ghost47: Spending 1.3bn not to build the East West Link - tho his alternative was two things the North West Link and the Western Tunnel both projects are miles over budget and not set to be completed even close to scheduling. Matter of fact the toxic soil problem means there is no definitive finish date.
The COVID19 incompetence - it isnt that we had an out break it, isnt that he got it wrong, it is that he took ZERO responsibility and just threw others under the bus for 2nd lock-down ie Jenny Mick etc
He gave himself a 12% pay rise it just isnt a good look when businesses are closing and you're become the highest paid State leader in the country….
Red Shirts (This was a bit deal but he seemed to get away with it)
This stupidity with electric cars now you tax them then give a subsidy? WTF
Ill give credit where it is due he has started to get rid of the stupid rail crossings which is fantastic but that has also gone well over budget… Which i expected to happen and as a voter i dont hold against him but it needs to be mentioned.
Otherwise he hasnt done anything but waste money, Victoria is in one of the worst positions it has been in years and it has happened under his watch - regardless of circumstances he needs to take responsibility for a number of his failures.
Dont get me wrong Vic LNP are HOPELESS too but that is for another comment
@watertight: This is true most because the connection between the Unions and the ALP - however i dont think he is anywhere near as popular as he was
@watertight: I can only speak of the COVID incompetence and my experience with how lax the measures were when arriving in Melbourne airport, when and where to wear masks etc.
Anything else and I'd only be an armchair expert. So I really have no idea how everything else is going.
just remember there wouldn't ever have be a job keeper if not for the opposition 'jumping up and down'.
Jump keeper/Seek was a LNP policy - one that i wasnt a fan at the time but looking back it was a policy that saved our economy a lot of hurt…
ALP wanted it to be extended to non-Australians and extended in duration both ideas i personally disagreed with - there are a number of businesses who MADE a tone of money during COVID now refusing to give the money back Harvey Norman, Mercedes etc
Job Keeper and Job Seeker were not great policies IMO but it was effective to extend its reach would of only made them waste more money.
TBH this current LNP is more ALP then ever before with the level of spending but something needs to be done to push the economy - i dont mind this current federal government however i have my issues with it - However ALP dont seem to push where i think they should and have been focusing on minorities and other useless policies for too long
The fact that multinationals based in Germany and multi million dollar franchise operators could claim it is a failing on the Gummints part.
Thanks to Scovid and FydenTuck we have donated millions to Germanys car company, that's a good deal.
@[Deactivated]: I dont disagree with you, but i also understand where the govt was coming from - but that German car Company employs about 4000~ Australians….would you rather them have sacked everyone?
On top of that Ford made a profit employs around 2000 Australians
Toyota (though they said they will give the money back) - 8500 Australian workers
etc
The issue with the Job Keeper and Job Seeker policy is there wasnt enough about companies that eventually turn a profit - However ALP has not 'jumped up and down on this' instead they wanted it to be more accessible not less - thus our opposition is very poor
@Trying2SaveABuck: Would it really be a shame if those poorly build and overpriced sh17boxes and terribly backed hitlermobiles left our lands?
@[Deactivated]: I would say it would be? anything that results in less jobs in the economy is bad for Australia?
Bizarrely in Canberra the federal budget has dropped $2.5 million on a back street road that has a few plant nurseries and a food truck (Beltana Road, Pialligo). While I'm happy that the 3 pot holes I avoid while I get a bacon and egg roll from SpitShack will be gone I'm not sure it was a federal govt budget priority…
https://www.google.com/search?q=Beltana+Road%2C+Pialligo&rlz…
https://sack-scott-morrison.raisely.com/
Snotty-Scotty stands for his rich mates or those he fears who have more than he will ever have and he works ONLY for them. Sick (profanity).
I think the countries finances are better than forecast and of course the pollies will take the credit for that….
The reality is there are so many risk factors ahead of us in the next year or two, we are nowhere near out of the woods.
However I am pleased Australia is doing better than expected, hope it continues for a long while.
On a personal note I will not receive a dime, but I’m happy to see aged care receive a boost.
The removal of the $450 limit for SG purposes came out of left field for me. Designed to improve women’s super equality (not balance!) but this measure, in my opinion, has been poorly designed to achieve that (as most of those earning less than this amount are likely to be minors or students).
Especially if you’re a small business owner this will hurt…
I think Frydenburg is a little optimistic in his figures.
The economy is still on life support/going backwards with record savings in people's accounts, my argument would be this is due to everyone hoarding cash in order to purchase overpriced property.
It's this lack of turnover in the economy which is the barrier to any sort of growth. But of course it's the elephant in the room that the current government doesn't want to address at risk of losing votes, much to the detriment of Australia's future. Don't even get me started on the generation who's going to foot the bill for the aged care reform while struggling to afford a house and record high living costs.
Building houses and roads and infrastructure is good and all, but you can't run a country solely on the back of it. Although it seems the government is intent on inflating out all the debt, along with everyone's savings.
Wayne Swan i feel did a far better job at steering us through the GFC with less collateral damage.
while struggling to afford a house and record high living costs
Take a look around. That generation is now, anybody who doesn't have a house yet is literally priced out forever.
That generation is now, anybody who doesn't have a house yet is literally priced out forever.
They don't need to be priced out forever if they move to a city they can afford to buy in.
It’s hard to have any confidence in their projections when schemes like JobMaker were marketed as creating 450,000 new jobs and yet only created 1000.
No wonder the ABC reported it as they did. lols
https://budgetnight.taxpayers.org.au/?utm_campaign=ata_-_tax…
"Alright #Budget21 speech is wrapped up. All in all a Labor budget. Spending measures left and right, and only some modest tax cuts for special interests while regular Australians get screwed."
"Remember when we were going to have a surplus? Yeah, me neither. #Budget21"
""Employment is on a record high" I would LOVE to see what voodoo they did on those numbers. Businesses are dying #Budget21"
"And the national security bogeyman gets rolled out. More funding for authoritarian spooks who will push horrible policies like locking citizens out of Australia #Budget21"
"Money printer goes brrrrrrrrrr #Budget21"
"Why is the Government solution to every single health or education related issue to throw more money at it? Clearly more funding =/= better results. #Budget2021"
"Seriously if the Government accepts that a 50% tax cut will accelerate medical, biotech and green energy, why the hell wouldn't it accelerate the growth of all other industries?!#Budget21"
Etc, pretty sure those guys were posting live as the clownshow was rolling out. :)
Budget projected out to 500 BILLION over 5 years. ie $500 billion extra on top of what we have now pushing out to the trillion.
There can be little doubt that they will be looking for hyperinflation to get rid of this ballooning debt. And that's just the feds debt, you can pretty much double that when you add in the state's debt as well. What could go wrong?
smoke and mirrors
Australia's economy just entered recession https://www.abc.net.au/news/2019-03-06/gdp-q4-2018/10874592 < March 2019 before covid
https://pbs.twimg.com/media/E06jBzCVIAAt1ux?format=jpg&name=…
how good is debt
https://pbs.twimg.com/media/EIslG4yUYAAKmr7.jpg:large
coming soon on steroids more pork barrels and rorts for your grandchildren to pay off
Keep pumping that housing bubble
Liberal nationals war with china
Just wait for the inflation to kick in
By the way what happened to Brittany Higgins rapists they still haven't caught him
The sheeple will fall for it hook line and sinker
Reap what you sow Australia A trillion dollar burden of debt and at least ten years being in a negative surplus before we try paying off any of that trillion dollars
I have a feeling many Australians are going to be 'tightening their belt' moving forward. I know we will be.
Government is raising taxes on those 90k and below. Surprised that there aren't articles on this. Gotta fund the wealthy somehow.
As if the low income earners don't get enough from the pockets of the wealthy lol. Maybe try taxing the billionaires rather than the person who slaved away at uni to earn $200k/year, of which half of gets eaten away by taxes.
I think Biden's onto something when he implemented just that in America.
Would sort out a lot of our issues.
Curious if the low to middle class will be screwed over in 22-23 budget after the election when the $1080 lamington is taken away. Meanwhile the $200k+ income earners pay 10k less tax in 2024
liberal nationals
compare the pair
centrelink
We’ll find you, we’ll track you down and you will have to repay those debts and you may end up in prison
billionaires multinationals
the Coalition won’t “welsh” on the rules of JobKeeper over payments
How good is that
I think its the fault of those poor people. If we harass them enough, they'll go back to being rich. I want to be a billionaire some day too. I'll keep voting for the lnp!
Total mess. Middle class welfare at its finest. Childcare subsidies total waste of money.
Not enough spending on technology, green energy, onshoring manufacturing.
It's shocking how low the LNP have fallen. I think even Howard who started budgets completely based on pork barrelling vote buying would be ashamed by this. Children would have better economic credentials than what is on display this budget.
Alan Kohler argues that small businesses don't contribute as much to employment growth or tax revenue as medium and large businesses (this seems contrary to the popular opinion that it's typically big corporations evading taxes), but employ a lot more people, and by extension, votes.
Josh Frydenberg is essentially trying to woo them with his budget since the number of potential voters employed by small businesses outnumber the ones employed by medium and large ones.
I like the increase to the FHSSS (First Home Super Saver Scheme) - just wish it was effective before 2022.
https://www.ato.gov.au/individuals/super/withdrawing-and-usi…
coffeeinmyveins on 11/05/2021 - 21:11 Comment score below threshold.
