The election thread - Will the new PM last a full term - who will you futilely vote for?

Who will you vote for?

  • Liberals

    Votes: 13 20.0%
  • Labor

    Votes: 25 38.5%
  • Nationals

    Votes: 0 0.0%
  • Greens

    Votes: 16 24.6%
  • Independant

    Votes: 4 6.2%
  • The Reason Party

    Votes: 4 6.2%
  • Shooters and Fishers Party

    Votes: 1 1.5%
  • One Nation

    Votes: 1 1.5%
  • Donkey/Invalid vote

    Votes: 1 1.5%

  • Total voters
    65

Scotty T

Likes Dirt
Looks pretty much split down the middle for me in Bean ACT, a new but considered safe Labor seat. We have two Fraser Anning, two UAP but no One Nation. That feels like a slight swing to conservatives, there were more weed/animal justice/sex candidates in the past but they seem to have dropped off.
 

Zaf

Gearbox Frother
Pffft, dude needs to brush up on randomness and probability.

Randomness/monkeys have as much likelihood of giving a 50-50 return as they do a 100-0 return.
"Curiosity killed the cat" isn't a cautionary tale for cats.
 

c3024446

Likes Bikes and Dirt
If we take the example of somebody who has earned, only through franking credited shares, $40,000 for the year (lets assume it meets the holding rule conditions).
They will have gotten $28,000 with $12,000 in franking credit.

Now if we take this example, but add a $140,000pa salary to the mix, the projected tax for $180,000 income year should be:
I’m not accountant - is this correct?:
Scenario 1: No refund, but don’t have to pay tax either. Franking Credits reduce potential tax bill to zero. The $40k profit you made as part owner of a company is taxed at (12000-5346)/40000 = 16.6%

If franking credits all returned (As they currently are) – you have paid 0% tax on the 40k profit as part company owner

Scenario 2: Tax liability on $180k income is $57697. Tax due from the $140k is $42097 add the entire franking credit of 12000 and they have to fork out another $3600. Tax component of your company profits are (3600+12000)/40000 = 39%, which is the top marginal tax rate (for each $ between 90k and 180k), and the 2% medicare levy.

https://www.ato.gov.au/Rates/Individual-income-tax-rates/

……But, to own shares as part of a SMSF you’ve paid 15% contributions tax already. So the proposed changed is to make sure you are to be taxed when putting in and taking out for super?
I’m a part of an industry super fund with shares, property, owns the NSW elec grid etc. The only way this change makes sense to me is if owning shares is taxed much less than investing in property or other assets, and it’s to level that playing field.
 
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pink poodle

Clinically Inane
Yeah, but do you like the live export industry?
Of course not, I don't even like (most) of our farming. I think we are missing a jobs boom here by ditching live exports and processing the carcasses here before send off. Sadly it's not something I see a single issue party having tangible parliamentary influence over.

Looks pretty much split down the middle for me in Bean ACT, a new but considered safe Labor seat. We have two Fraser Anning, two UAP but no One Nation. That feels like a slight swing to conservatives, there were more weed/animal justice/sex candidates in the past but they seem to have dropped off.
I think the electoral commission had a bit of a crack down on the not quite really a party options.
 

Tubbsy

quadragenarian
Staff member
Pretty sure Zaf’s full name is Vladimir Zafobokov and he works out a St Petersburg troll farm.

Mueller told me it’s true.
He does claim to come from the red centre... although the red army was peasants and socialists?

Epic trolling.
 
Reactions: Zaf

droenn

Likes Bikes and Dirt
This whole franking credits thing is not high on my radar of things to care about, but this article (which probably won't satisfy some) presents an interesting exercise...

Labor’s changes would have virtually no impact across the bottom 70% of the wealth distribution. Almost 90% of the total value of all imputation cheques are paid to the top 20% of the wealth distribution.

Around 2.7% are paid to the bottom 50%.
 

pink poodle

Clinically Inane
Tough break!
Also...


To be confirmed in July I guess, when we'll inevitably become BFF's. I'll make Poodle/Zaf bracelets, you can braid my hair, we can go for long rides and talk about things and stuff!
Long rides? Wtf??? I don't do long rides....who has time for pedalling? Shuttles bro and you didn't buy the right vehicle! My heart is broken.
 

SummitFever

Likes Bikes and Dirt
It is only relevant for people voting this way:
You've really got this arse about. The point is:

  • labour are not supposed to be for the rich;
  • they propose a regressive change to the imputation credit system that is clearly too complicated for the average punter to understand;
  • they are lying when they say its a handout, it is anything but (otherwise if you get a tax refund on your salary do you consider that a handout?);
  • in revenue terms it will take more from the rich than the poor, but taking anything from the poor is a shitty thing to do;
  • it would be simple to have it asset tested and it would not impact the poor.
Not caring about something because it doesn't affect you is just as shitty a thing to do as voting [1]-Me in your picture.
 
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