Federal Budget on channel ABC on TV tonight at 7.30pm

Does anyone know how I can get a recording or written text of Scott Morrison's parliament question time speech the day after the budget (10th)?

 

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Maybe you need to be in the situation where it's applicable to you .

Being able to shift a further 600K from personal funds into SMSF would be a nice benefit for us . We have several IP's within our SMSF with a reasonable level of debt . Our plan was to put additional money into our SMSF and pay down existing debt prior to retirement .Now we can use that additional funds to buy further IP's in our SMSF sooner and then use that 600 to pay down that debt . We sold a unit in manly recently and rather than paying down the debt on the other properties chose to pay cash for a further two properties . This would extend that process .

It will be interesting to see if there is any devil in the detail . Will there be any conditions / exclusions ? Do you have to buy a further property at that stage ? Can you move into a property that you have bought previously and was an investment ?

We have to wait at least 8 years till we can do it as we moved into our current PPOR 2 years ago . we'd be looking at buying a suitable downsizer in around 5-6 years .

Cliff

 

The budget is big on more taxes, big on more spending, penalising the rich (the four Banks), and increased the debt ceiling to $600B...
Clearly the Liberal Government and the Labor Government are now exactly the same, and the the Liberal Party's historic principles of cutting spending, cutting taxes, small Government and reward for endeavour are completely gone.

 

The rich guys don't need any more money but the struggling people sure do need a helping hand like the NDIS etc... I am all for it, that what differentiate us from poorer country, we help those who need help, what a point of a rich country if you can't help your struggling citizen, that way everyone is better off

 

For those interested, here is a link to the inland rail alignment map. Surprisingly much of the track already exists, including all of the Victorian section. A train buff friend of mine said its only something like 600km of new rail corridor. The existing track used will be upgraded to allow double-stacking, equaling the freight capacity of the Perth to Adelaide link.

Route | Inland Rail

 

Agree completely that the less fortunate should get more assitance.
But I also don't like this mentality of constantly resenting and looking to penalise the richer element - that is socialism...IMO it is far better to reward the people who have a go and produce lots for the wider economy (Banks pay LOTS of tax)..
The problem with the Bank slam is; guess what the Banks will do after they have to fork over their $1.6B each?
They will simply pass it on to the consumers in various ways.
So, all the Government have achieved in this Budget (if any of it gets passed in the Senate) is whack the average folks more with the Medicare levy increase, and ultimately more in Bank fees...add to that this ridiculous mantra of ever-increasing "renewable energy targets" which are sending the costs of energy through the roof... and what have we got? a Government (on both sides) that is terrific at making the cost of living even worse for the punters.

 

I see the best countries are the one that has a free capitalist model with generous social benefits
Norway is a good example and Sweden and Denmark

These guys pay a lot of tax, most people classed them as socialist but that just a label
their citizen are some of the happiest, healthy and well-educated people on earth

Australia is up there as well but don't go backwards in term of helping your fellow citizens

 

Denmark Happiest country in the world

7 reasons Denmark is the happiest country in the world

 

There goes the gold coast market.

 

Oh right. I had thought that far . But I would assume the average retiree would not think that way. But yes that sounds like a great way to downsize and divert that money into more CGT free properties.