Budget night

Looking forward to my $2 a week tax cut.

Boo.

Anyone in line to benefit this year? Really wish they would just agree to do something good for the country like pay off $30bn debt a year for the next 20 years instead of blowing all the extra tax receipts on election bribes...

 

Nothing for us - wish they'd put any excess into a future's fund for when things aren't so rosy. If only Howard had done so during the heyday ...

How about this for a radical idea - de-privatise essential utilities like electricity and water, to supply and non-profit alternative competition. May not be as efficient, but because they don't need to make a smacking profit for shareholders, they can still put downward pressure on prices

 

... and have the ALP spent the funds on whacko things like pink batts, ...

 

To be fair it was private businesses that did dodgy installation services

 

Budget is all theatre, wait for the analysis assumptions that make up the figures.

 

FWIW I don’t want tax cuts, I want services funded.

 

Ha ha. Gawd this is a puke worthy budget. Now that’s over, let’s see the actual figures over the next couple of days.

 

Big tax breaks....structural deficit here we come....time to cut services...

 

... certified by Government .

 

Tingle’s analysis was good

 

Anyone find anything specific about property?

https://www.budget.gov.au/2019-20/content/bp1/download/bp1_final.pdf

https://www.budget.gov.au/2019-20/content/bp2/download/bp2.pdf

Libs keen to push the message of history of surplus's as best risk management in response to fickle world economy and aus household wealth affected by sydney and melbourne falling house prices. Labor likely to look to outspend and push their goal of wage growth and particularly for lower income voters.

 

The best tax change in recent history was this last year. Have been a die hard Liberal Supporter since:

Budget tax cut on small kegs likely to mean cheaper craft beer, Scott Morrison says
... 4 May 2018, 9:41am

Cheaper craft beer likely as Treasurer takes axe to small keg tax

 

Cuffelinks already got their first analysis out:

Budget Edition 300 direct from the Lockup, Josh Frydenberg hands down an election budget to coincide with the 300th newsletter from Cuffelinks.

(hope this link works)

 

Cutting the R&D budget? Seriously. Our pollies have no long term plan for the country outside of mining, services and medical research.

Meanwhile, the world is increasingly tech focused

 

There’s a line about all businesses being IT with some extra services on top of it. R&d <> IT

 

How does this "immediate tax relief" work?
Is it an offset, or a change in tax rates - supposed to be in effect for the 2018/2019 year.

 

The Low Income tax offset is being adjusted for the 2019 financial year - so when you submit your tax return you will see a higher refund or a lower tax bill.

It's unusual to see it done this way, but given the budget is being delivered in April not May, and the election will be over soon, the Government is betting it can get it passed by June before tax returns start being lodged in July.

 

Frydenberg is using some heroic mathematics.

There was a line about "paying off net debt by 2030". Net debt currently stands at $360 billion.

Surpluses over the next 4 years are projected to be about $45 billion cumulative.

So in the following 7 years, after the most of the gigantic tax cuts come into effect and are implemented in 2024, they will need $315 billion of surpluses to pay off the debt. This is $45 billion in surpluses per year.

Sounds like a ****ing fantasy to me.

 

I think you mean “nationalise”