Has anyone worked out how much they'll be paying on their taxes for flood levy this year?

http://www.taxcalc.com.au/

I was surprised at how much ours was...er, this is going to be a one time only thing, right? They said that about income tax in Canada in 1917...

Yeah, a one time thing right up to the point that they need more money for something else.

Personally, I resent having to pay out money because the QLD government is too tight to insure its infrastructure...


S

Personally I can't see it being a one-time thing. By next year there will be something else (hopefully not more floods) and they'll impose a levy again just under a different name.
And I agree with that comment - Qld Govt should've sorted a lot of infrastructure issues long ago then the damage wouldn't have been so great.

PS If my boss is reading this, my account has been hijacked by someone else

Just in case there is any confusion: There is no flood tax for the year ending 30 June 2011.

The flood tax applies for the year ending 30 June 2012.

Thieving *****ing gypsy bastards!

I have and it's a lot. Most people will pay very little or nothing

Yep

Well, hey, now all I have to do is get the husband to stop working overtime and drop us into a lower tax bracket so we won't have to pay them as much... That should go over well with the bosses...

A total bunch of pikelets.

Yup. And according to that calculator, if I took the amount hubby earned this year (I'm still at home with the youngest ankle biter) and divided it between two of us--say next year he takes a huge pay cut and I make up the difference--then our flood levy contribution would be $500 less than what we would pay for it with him as single income earner...nice.

But then our overall income taxes would be lower with two incomes as well...so there you go...

I don't think the insurance the other states have would cover most of the damage anyway. NSW et al have been heavily drawing from exactly the same govt scheme over recent years to fix their storm damaged bridges etc that Qld is now using despite having insurance. It is just the scale of the 1 in a 100 year damage that has necessitated a one off levy. Amongst other things needed to get coal flowing to the ports etc.

How come these 1 in 100 year events happen every year?

Last time that much water fell on the Brisbane catchment was 1893. If you give us more money we'll build a bigger dam for 2100 if you like

Last event of a similiar nature was 1974. I believe a condition Nick Xenophon wanted for the levy is that QLD gets insurance. QLD Libs wanted to use more of the flood catchment to hold water as standard. What monkeys.

QLD slacked off on the insurance and should be paying a lot more as a result.

A friend of mine owns an investment house in Ipswich. The water went up over the window sills and made a complete mess. The tenants got their flood allowance of about $4000 and buggered off leaving him to clear up all their old rotten furniture and mattresses. As the landlord he isn't entitled to claim any assistance. The old tenants are now in a new rental with new furniture all paid for by you and me. That doesn't seem fair to me.