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.