Flood Levy
#197
BE Forum Addict
Thread Starter
Joined: Jul 2010
Location: Melbourne
Posts: 2,442
Re: Flood Levy
For the record, I don't give two shits about Abbott or Gillard or left or right wing of politics. Abbott's just a lesser evil of the two.
Last edited by Deancm_MKII; Jan 29th 2011 at 4:20 am.
#198
Guest
Posts: n/a
Re: Flood Levy
It is actually at least $73,550, before adding on the benefits, tax deductions etc etc
#199
Guest
Posts: n/a
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.
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.
eg: My premium is $1,000, without flood cover, but $1,500 with flood cover.
If I choose to pay only the $1,000, should I still be covered ?
There are a number of problem ones though, where the cover is confusing, and THAT needs to be sorted out before it happens again.
#201
Forum Regular
Joined: Jan 2010
Posts: 188
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
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
Collecting the money not a problem.Say you earn $60K,then you'll pay 0.5% on 10K,which is $50,as the lady said,less than $1 per week.
If you earn $100k then you will pay 0.5% on 50k which is $250,or as the lady said ,slightly under $5 per week..
Now if you earn $110K you will pay $250 plus 1% of 10k,can you work that uout all by youself,easy isn't it.
Gillard probably can work out the maths,it would seem you cannot.
Now to collect it,when you get your tax rebate could they possibly deduct $50 from that rebate and call it flood levy.Or if you owe tax could they possibly add $50 to your bill under the line called flood levy.Or would something so simple be far too complicated for the majority of people to see.Baffles me why the human race has great difficulty in seeing the bleedin' obvious
Could Henry Ford be right ' the hardest work a person can engage in is thinking,very few people will engage in that work'.
Geordie downunder
#202
Re: Flood Levy
who gives a poo. It was 14 years ago
we're talking about raising tax for 1 year as a 'special event' to pay for capital infrastructure that will last for 50yrs . In an economy where they have not proven they need to do it.
How could they possibly have done a full assesment of finding 5b$ in the coffers and decided that a levy was the 'best' route to do it from all the other options , in the time they had between the floods - and the levy being announced - ie 10 days.
what a crock. They making a 5b$ decision in 10 days - please dont tell me they have done a full and thorough analysis and this is the BEST option.
we're talking about raising tax for 1 year as a 'special event' to pay for capital infrastructure that will last for 50yrs . In an economy where they have not proven they need to do it.
How could they possibly have done a full assesment of finding 5b$ in the coffers and decided that a levy was the 'best' route to do it from all the other options , in the time they had between the floods - and the levy being announced - ie 10 days.
what a crock. They making a 5b$ decision in 10 days - please dont tell me they have done a full and thorough analysis and this is the BEST option.
#203
Joined: Jun 2006
Posts: 4,555
Re: Flood Levy
The point is that it is a bit rich to shout reds under the bed and for Abbott to be contrarian when his own party has a history of multiple levys. This is as socialist as the coalition.
Your point on the rushed nature is valid.
Your point on the rushed nature is valid.
who gives a poo. It was 14 years ago
we're talking about raising tax for 1 year as a 'special event' to pay for capital infrastructure that will last for 50yrs . In an economy where they have not proven they need to do it.
How could they possibly have done a full assesment of finding 5b$ in the coffers and decided that a levy was the 'best' route to do it from all the other options , in the time they had between the floods - and the levy being announced - ie 10 days.
what a crock. They making a 5b$ decision in 10 days - please dont tell me they have done a full and thorough analysis and this is the BEST option.
we're talking about raising tax for 1 year as a 'special event' to pay for capital infrastructure that will last for 50yrs . In an economy where they have not proven they need to do it.
How could they possibly have done a full assesment of finding 5b$ in the coffers and decided that a levy was the 'best' route to do it from all the other options , in the time they had between the floods - and the levy being announced - ie 10 days.
what a crock. They making a 5b$ decision in 10 days - please dont tell me they have done a full and thorough analysis and this is the BEST option.
#204
BE Forum Addict
Joined: Oct 2009
Location: Perth
Posts: 2,237
Re: Flood Levy - Enjoy your tax rise
200ml is $13.99 here. Definitely better than the $18 for 100ml the other poster mentioned.
http://www.chemistwarehouse.com.au/i...911/150_CW.jpg
http://www.chemistwarehouse.com.au/i...911/150_CW.jpg
#205
BE Forum Addict
Joined: Oct 2009
Location: Perth
Posts: 2,237
Re: Flood Levy
A family on 50K does not pay tax, a well known fact, and well published fact. The benefits they are entitled to wipe out the tax.
Tax may appear in the weekly pay packet, but take into account the family tax benefits etc claimed back over the year and they effectively pay no tax.
Well thats what the govt claim but yes they are mental
Tax may appear in the weekly pay packet, but take into account the family tax benefits etc claimed back over the year and they effectively pay no tax.
Well thats what the govt claim but yes they are mental
Also, if you are an employee with nothing to claim as work expenses, then you get no tax rebate. If you put some numbers into a calculator such as
http://www.moneydetective.com.au/cal...tax-calculator and split $100,000 across both partners working, you see how single income families are penalised. Also, you can put in substantially lower overall salary to receive around $73,000 after tax. There are substantial Centrelink payments available that boost family income significantly.
There are huge tax rebates and Centrelink payments available for some wealthy people, ie if they are self-employed. It's the regular, 8-5 employee, single income earner who gets penalised most.
Rich is not $100,000 - and it's nowhere near wealthy.
#207
BE Forum Addict
Joined: Oct 2009
Location: Perth
Posts: 2,237
Re: Flood Levy
I'd much rather my OH was self-employed and that I had a part-time job.
No taxation system is perfect, but it is ridiculous when you are actually better off on a lower salary. How about this: a self-employed professional, wife doesn't work (unless he claims her as "office manager"), 4 kids, large house in very expensive suburb, gets extensions done to the house which he claims as work expenses (new home office, etc), boat, 2 cars, overseas and interstate holidays each year. They got all those $900 payments, x 4 as they have 4 kids, get a large amount each fortnight as Family Tax Benefit A, which means they also get Education Tax Rebate and probably other things we can only dream about. I do get a tad annoyed at what the system allows some people, but not the families financing it.
No taxation system is perfect, but it is ridiculous when you are actually better off on a lower salary. How about this: a self-employed professional, wife doesn't work (unless he claims her as "office manager"), 4 kids, large house in very expensive suburb, gets extensions done to the house which he claims as work expenses (new home office, etc), boat, 2 cars, overseas and interstate holidays each year. They got all those $900 payments, x 4 as they have 4 kids, get a large amount each fortnight as Family Tax Benefit A, which means they also get Education Tax Rebate and probably other things we can only dream about. I do get a tad annoyed at what the system allows some people, but not the families financing it.
#208
BE Enthusiast
Joined: Nov 2008
Posts: 839
Re: Flood Levy
I see Polly had to delete some, no doubt, bitter diatribe about Australia and those of us who live here.
I'm more amazed that you STILL care what happens in Australia.
That's despite, according to you, having a hugely successful time here, then managing to sponge benefits off the system, then run off back to Bonny Scotland where you now earn a squillion times the average wage.... and yet, STILL, you can't just walk away into your Scottish idyl.
Why is that?
I'm more amazed that you STILL care what happens in Australia.
That's despite, according to you, having a hugely successful time here, then managing to sponge benefits off the system, then run off back to Bonny Scotland where you now earn a squillion times the average wage.... and yet, STILL, you can't just walk away into your Scottish idyl.
Why is that?
Enjoy the levy.