Flood Levy
 

Gillard has just announced a flood levy...

Good idea/bad idea? Do you agree with it?

I think if you are going to build your house in flood prone areas then you've only yourself to blame when it gets flooded. So why should we all have to pay for it?

Re: Flood Levy
 

No I don't - whatever/how much it is. Cut some middle-class welfare (baby bonus, maternity leave etc), slash the NBN, fire 10 000 civil servants, but no new taxes. We pay too much already.

Re: Flood Levy
 

Looks like its 0.5% for those earning $50k-100k, 1% over $100k and those under $50k (and the flood victims themselves) pay nothing.

Also Employee Sponsored temp migrants to be processed in 5 days.

Re: Flood Levy
 

Gillard's a f*****g idiot!

Re: Flood Levy
 

So over 100k ( peanuts for a family ) you will pay 2.5% even if you pay prvate health insurance on top.

This has to be a joke.

Re: Flood Levy
 

1 f**king percent! Way too much. These morons need to stop thinking that $100k is a high income.

Re: Flood Levy
 

Gonna cost me the equiv of a new TV too :sneaky:

She also reckons there cutting back on infrastructure spending to pay for it as well.

The 'Green car rebate scheme' has also been abolished WeverTF that was. Something to do with LPG?

Re: Flood Levy
 

This Labor govt. really hasn't got a clue.

And the best of it is the actual flood victims are exempt.

Flood Levy - Enjoy your tax rise
 

http://www.theaustralian.com.au/nati...-1225995430400

A levy of 0.5 per cent will be applied on taxable income between $50,001 and $100,000 and a levy of 1 per cent will be applied on taxable income above $100,000. Anyone earning under $50,000 will not pay the levy.

The funny thing is that you just know that the money is going to spent so badly or just replacing things on flood plains which might just end up getting washed away. We can look forward to seeing new concrete crap we don't need no doubt in order to spend all the money and look impressive. Again.

So, tax me more, put my water & electricity bills up, let me pay heaps more on the already ridiculous price of food. It'll be fine. At least I can download p*rn quicker in a few years. If thats till allowed to be viewed and not blacklisted.

Re: Flood Levy
 

How are they going to collect the bloody money!

This is a different classification of tax and not inline with current calculations of medicare (which is calculated as an addition on top of normal marginal tax) and having people exempt means exceptions (ok obvious I know)

As a person who designs payroll systems this is complete B*llocks

And the SMH reported Gillard as stating it would be around $5 per week for incomces over 100,000 - she can't even do basic maths of 1%

Hate it Hate it

Re: Flood Levy - Enjoy your tax rise
 

The lucky country ;) ahumm....

Another example of the ridiculous.

Down in bris, as always total traffic congestion, bus displays sign saying each bus takes 40 cars off the road, underneath a small sign showing up to 30% fare increase, with another 75% increase over next 3 years, ( pre-flood).

The phrase couldnt run a piss up in a brewery springs to mind...

Re: Flood Levy
 

Don't know the details but apperently it will be collected "at the same time as the Medicare Levy"



The way I understand it is someone on $100,000 is taxed on $50,000 @ 0.5% =$250 / 52 = $4.81 pw. Stating it weekly makes it sound less, overall it will cost the person $250 (the tax runs for 1 year AFAIK).

Someone on a higher income of say $150,000 = $14.42 pw or $750 pa.

http://resources.news.com.au/files/2...-floodlevy.pdf

Re: Flood Levy - Enjoy your tax rise
 

"The problem with socialism is that you eventually run out of other people's money"

http://4.bp.blogspot.com/_AOdk-xDdPJ...ricanflags.jpg

Re: Flood Levy
 

I first thought it was in with the medicare levy, but its not, and is it now first 50,000 of income exempt??

Does the opposition have to approve this?

One thing I wish this country would get to grips with. Given the cost of everything in OZ a family on $100,000 is NOT wealthy, well off or anything like it, in fact if that was your only income and you had a mortage I would think you would struggle if anything.

Re: Flood Levy
 

It's for one year.... so big deal. Not exactly going to bankrupt anyone is it, and it will save victims becoming bankrupt.

If we get the same devastation from similar floods within say the next 25-30 years then a totally different approach maybe in order.

I"ll leave the collection part up to my accountant, but I should imagine it will be an end of year tax levy on ones tax form.

Re the 5 dollars PW on the 100k I wonder how the tax thresholds will work on the calculation.

Re: Flood Levy
 

When has Labor ever withdrawn a tax?

Re: Flood Levy - Enjoy your tax rise
 

Libs ran a number of levys including one to buy back guns after Port Arthur. The intention of the NBN is nothing to do with porn but why let facts get in the way of an irrational rant.

Re: Flood Levy
 

If people are silly to build on flood prone land then half of Melbourne must move immediately along with a lot of people in Brisbane, Bairnsdale and the list goes on.

Elwood, Ormond flood prone in Melbourne, Melbourne City itself. So get looking at the plans and see where to live.

This flood has not happened for a long long time 200 year flood in Victoria and don't the victims who keep milk and food on our shelves deserve some help.

How is the government going to help, oh I know they can just borrow the money and delay the tax and we can all pay later.

Damned if you do and damned if you dont

Re: Flood Levy
 

So I'll have to pay an extra 300 bucks or so this year.

Thats fine, I can live with that.

Cough up you tight gits.

Re: Flood Levy
 

It's really their own fault for living in flood prone areas in the first place. When are people going to accept responsibility for their own decisions. No one forced them to live there. They know that historically the areas a prone to floods (some even have marks on their houses as to the level of the previous floods) and now the taxpayers are going to pick up the bill.

If they are not insured then let them go to the wall.

Re: Flood Levy
 

It's because Gillard promised everyone affected $25K. Only after she made the promise did she do the maths and realise she'd ballsed up.

Presumably the handout is for the uninsured only.

I bet people are spewing if they donated cash for the flood appeal, they should have realised the govt. would be forcing them to donate.

Re: Flood Levy
 

You chose to live in Australia.

Get a job in Dubai or soemthing if you don't fancy paying tax :p

Re: Flood Levy
 

Not the same thing. (Although Dubai has crossed my mind)

Re: Flood Levy
 

Re: Flood Levy
 

Is the money going to the flood victims or to rebuild the infrastructure (or both), does anyone know?

Re: Flood Levy
 

Medicare levy is collected through your PAYG tax

Medicare Levy Surcharge is extra taxation payable at Year End reconciliation depending on your private health care arrangements

So saying you are paying it through Medicare Levy is the same as paying through the payroll - which means a system change and large cost to providers.

The arrangements are a complete cock up and one that I cannot see being repealed after 1 year it will become a standard tax for the government I believe.

Re: Flood Levy
 

I think quite a few people on this forum, if income polls are anything to go by will be paying a lot more than 300 a year.

And they are the people already paying extra medicare or private health and miss out on most of the other handouts given out.

The govt here targets those High :confused: income earners time and time again. Elastic bands only stretch so far..

Re: Flood Levy
 

Will we ever know:rolleyes:

Re: Flood Levy
 

Makes me wonder why we bother paying our flood insurance premiums really when we are getting whacked with this now anyway.
Might as well cancel that now and just rely on the government to stump up the cash if anything happens.:huh:
How does this impact the temporary residents who as far as I know aren't entitled to any aid if they are/were affected - do they have to pay this too?:thumbdown: Im PR but reckon I would be pretty hacked off if i was in their shoes and that is the case.
I think 100k being classed as a high income if that is for an entire household is a bit ridiculous too.

Re: Flood Levy
 

I'm surprised there hasn't been more outcry over the restriction of payouts by insurance companies actually. Like you say - isn't that why everyone pays such high premiums?

The insurance companies should be picking up most of the tab, but I bet they all turn in healthy profits at the end of the year.

Re: Flood Levy
 

Unfortunately in a lot of instances it is is because in the (extremely) fine print these companies stipulate they will not cover for river floods only flash floods, so people often think they are covered for an event when they are not - hence they wriggle out of it legally (but not morally in my view - you would think a flood is a flood right?:frown:).
I wouldn't be a bit surprised though if a lot of insurance companies find people cancelling or not renewing their policies now they realise they are not worth the soggy paper they are written on...

Re: Flood Levy - Enjoy your tax rise
 

This is so wrong. But not surprising.

Effectively a 1% pay cut - fantastic. Thank you citizen gillard.

I wonder how many of the population earn less than 50K , hopefully this will be the final straw that switches everybody off these clowns.

Re: Flood Levy
 

Welcome to the brave new world were financial institutions gamble, keep the profits and pass on the losses to the public via the govts. Same as in the US/UK/Europe post GFC, (otherwise known as a bailout).

Re: Flood Levy
 

I think we can expect it to become the "Disaster Contingency Levy" and remain in place... permanently.

Re: Flood Levy
 

I am happy if they spend on infrastructure as it will keep people employed and make more jobs and update our aging systems, about time.

All this hoo ha about paying for this and paying for that, we want to live in a modern country with modern infrastructure, transport etc so we have to pay for it.

What upsets me is people who moan about paying tax and then moan when the roads sh........... and they have to wait for an ambulance, or power cuts .

We gets what we pay for, this is no-ones fault and no-one should be blamed

Re: Flood Levy
 

Oh of course. I realise that all insurances companies are a bunch of snakes.

I'm just surprised there isn't more of an outcry over their shadiness.

Re: Flood Levy
 

Because people know it is a total waste of breath, they know legally they are clear so will just shrug their shoulders and carry on business as usual.:rolleyes:

It just reminds me of a really funny film - The man who sued god (starred billy connolly who fought an insurance company who refuse to pay up on a claim, saying the storm that sunk his ship was an act of god so they were not liable. So he went off to sue god...:rofl:

Re: Flood Levy
 

Totally agree, this comes down to institutional greed. The Government should name and shame.

Re: Flood Levy
 

:rofl: You can't beat nature.

Re: Flood Levy
 

Exactly!