Stimulus Package

[SKYL1N]

would a 19 year old with a part time job get this?

[SS8_Gohan]

jeebus...

i'll go out on a mightly limb here and bravely deduced you earn less than $80K a year?

if yes, read the rest of the bloody thread!

disclaimer in place in case said part time job resulted in NO tax being paid

[SKYL1N]

jeebus...

i'll go out on a mightly limb here and bravely deduced you earn less than $80K a year?

if yes, read the rest of the bloody thread!

disclaimer in place in case said part time job resulted in NO tax being paid

Cheers, Read the thread but was very iffy as people talking about combined salaries. i didnt think the government liked us young people enough. yeah the job is taxed.. in this case.. my 950 bucks.. bridgestone, bp, my local coffee shop will benefit.

as well as the victoria police

[CrispyFries]

but he also must not earn less than 6k a year, or not have deductions that reduce his tax liability to 0, both of these will make you ineligble

[SKYL1N]

if it goes on last years tax returns. which i think thats what i read. i made around 20k so its looking good

[adznight]

Ah well, sounds like you guys have all the answers then huh. Everyone's an expert when it comes to running the country

[fuzzy_scuz]

Business tax is killing business growth, I would rather the money given in business tax cuts to stimulate job creation or the very least current job retention.

But enjoy the Labour government and philosphies that go with it. So far everything is following the same packages of a Mr P Keating's way to get out of a recission. Look where we ended up. Lower income earners get all the breaks and midddle Australia ends up paying for everything. I am a family with dual income and we are not eligable because we have no kids to get the tax offset.

So as far I am concerned welcome to the recission we had to have mark II.

[SS8_Gohan]

^ i noticed that with the bushfires as well...

it's done. The money is coming, we can't do anything about it. Yes, there is way too much cash being handed out, but this was always an ideological battle between the three t's and the three p's. The three t's won because that's the sort of people in government. If this blows up in their faces, then we might have another long run of coalition after the dust settles, who knows.

The promise has been made by labour that taxes will not go up. That's pretty straight forward and one i'm sure we'll be keen to hold them to account if anything changes.

Please try and spend on a service if you can

/end public service announcement

[some_cs_student]

it's done. The money is coming, we can't do anything about it. Yes, there is way too much cash being handed out, but this was always an ideological battle between the three t's and the three p's. The three t's won because that's the sort of people in government. If this blows up in their faces, then we might have another long run of coalition after the dust settles, who knows.

I hope this doesn't blow up in there faces, if they do screw up the level of dept we will be in is massive.

So I hope the recession ends soon otherwise its not looking good.

<cut>

The promise has been made by labour that taxes will not go up. That's pretty straight forward and one i'm sure we'll be keen to hold them to account if anything changes.

<cut>

Lol, a promise by a politician, what happens if they lie? Well people might lose a little faith in them, and don't forget we could always change parties

Not too happy with the stimulus package, the US mentioned a lot of tax cuts, I would have preferred a focus on small business and Inf.

Oh, and feel free to pour some money into the share market, I own a few stocks that are a little low at the moment.

/end rant

The Australian has a good article on this but I'm sure everyone has read enough on the subject

The Treasury website has the old version as well (before the amendments):

http://www.treasurer.gov.au/DisplayDocs.as...=&DocType=0

[paulr33]

bring back bob hawke eh

[Jetdat]

bring back bob hawke eh

and dont forget the yard glass..

[SS8_Gohan]

hey Gareth, yeah what i meant by a "promise" is that they have straight out said "we won't raise taxes" - they haven't twisted with something like, it's our intention not to... or if the prevail conditions are consistent with treasury's forward estimates, blah blah, they just straight out said it. So if they do, it's a MAJOR slap in our faces and one that which could hurt them dearly. We know it now, we just have to wait and see... it's a good opening none-the-less...

well they're lucky that peter costello sorted out their tax policy for them at the last election, forcing them to budget it. So we'll be getting tax cuts in the new financial year but it would have made more sense to bring them forward, or even increase the cut

[SHANE666]

Havn't read alot of the thread...but

I would like to see a cut to 'hand-outs' and a cut to company taxes...i.e. cut GST down to 5%....the tax rate from 30% to 20-25% and allow companies to use those tax savings to reinvest back into the business, hire more employees, or keep their existing employees.

Kevin Rudd is a tool. Howard is laughing out loud.

There isn't enough reason for me to beleive this current stimulus package will give the economy the intended 'kick-start' sought.

[cosmic starz]

how soon everyone seems to forget that it was the Coalition Howard Government that was in power for 12 years during which this total f...k up of the economy slowly developed and became a crisis, and what did they do to warn about or to prevent this global meltdown and its impact on Australia - did they speak up about it ? did they even tell you it was on the way -NO- they did NOTHING - as long as the money was turning over and a good proportion of the population was maxxing out on credit cards building debt that was beyond their capacity to repay and inflating values beyond anything resembling real worth no-one said anything much

and for all the loonies saying business tax breaks are the answer - at least put your thinking hats on before speaking - the indisputable facts are - firstly its businesses having no trust in other businesses that is the main problem at the moment (banks no longer lending to keep businesses operating and preferring to make billions by slugging ATM users with new charges rather than lending money to businesses and earning profits that way) - no Government can force banks to lend money to businesses - that is one reason why the Government is putting extra cash into the economy in the hope banks start going back to lending to businesses consequential to the infusion of massive extra funds into the economy - its a gamble of course but what else can be done?

secondly tax breaks for business provide no guarantees of improving the economy or aiding job retention or growth, and unless you are blind stupid or have been living in a dark tunnel for the past 6 months you should know that even the key business advocacy organisations like the Chambers of Commerce and Industry etc in Australia (every single one of them) who usually back Coalition type policies have put their full support behind the current Government's economic stimulus policy - and they are on record as saying that business tax cuts are not the answer Or maybe you think the CAI etc are commies posing as capitalists.

lol - time to get real boys and girls - this is just another cyclical phase we will all have to go thru - it happens every now and again but this time its just that little bit worse

anyone who thinks any one political party or leader has a magic bullet should take some strong medication asap

[adznight]

lol - time to get real boys and girls - this is just another cyclical phase we will all have to go thru - it happens every now and again but this time its just that little bit worse

Ya huh.

[fuzzy_scuz]

It's monatory policy and fiscal adaptiveness in these times that makes a good government and can show the failings of a bad government. So far handing out to the masses is not answer, investment in Transport, Health, Roads and business's small, medium and large is the answer. Not Joe Moron have 900 bucks to spend on stuff imported from China or overseas. We need to be investing in Australian companies then you find we can get Australian jobs!!!!!!

[NickR33]

I too do not believe this is the best way to stimulate the economy....sure some people will spend it creating/keeping jobs but others will save it or pay off debts which really does nothing to stimulate the economy. As for the junkies who will no doubt blow it on drugs don't even get me started on that!

Anyway a thought provoking email I received...

aw poor little business owner... maybe we should employ trickle down economics just like the Bush administration has been doing over the last 8 years... that worked well... didn't it?

don't think for a second that business owners aren't using every trick known to man to make sure they pay as little tax as possible... they have clever accountants to help them find the loopholes... which there are many

I'm not sure about how wise this version of a stimulus package is but I've never received a single cent from the government so hey at least I get something back!

I would have preferred to see it being spent on infrastructure though... in Vic for example we need recycled water infrastructure and extension of rail services badly... we haven't had any major infrastructure projects apart from roads in a very long time... could possibly kill 2 birds with one stone, stimulate the economy by creating jobs and improving the standard of living at the same time

[NickR33]

how soon everyone seems to forget that it was the Coalition Howard Government that was in power for 12 years during which this total f...k up of the economy slowly developed and became a crisis, and what did they do to warn about or to prevent this global meltdown and its impact on Australia - did they speak up about it ? did they even tell you it was on the way -NO- they did NOTHING - as long as the money was turning over and a good proportion of the population was maxxing out on credit cards building debt that was beyond their capacity to repay and inflating values beyond anything resembling real worth no-one said anything much

and for all the loonies saying business tax breaks are the answer - at least put your thinking hats on before speaking - the indisputable facts are - firstly its businesses having no trust in other businesses that is the main problem at the moment (banks no longer lending to keep businesses operating and preferring to make billions by slugging ATM users with new charges rather than lending money to businesses and earning profits that way) - no Government can force banks to lend money to businesses - that is one reason why the Government is putting extra cash into the economy in the hope banks start going back to lending to businesses consequential to the infusion of massive extra funds into the economy - its a gamble of course but what else can be done?

secondly tax breaks for business provide no guarantees of improving the economy or aiding job retention or growth, and unless you are blind stupid or have been living in a dark tunnel for the past 6 months you should know that even the key business advocacy organisations like the Chambers of Commerce and Industry etc in Australia (every single one of them) who usually back Coalition type policies have put their full support behind the current Government's economic stimulus policy - and they are on record as saying that business tax cuts are not the answer Or maybe you think the CAI etc are commies posing as capitalists.

lol - time to get real boys and girls - this is just another cyclical phase we will all have to go thru - it happens every now and again but this time its just that little bit worse

anyone who thinks any one political party or leader has a magic bullet should take some strong medication asap

great post!

remember even if we go out and buy a bunch of crap made in China there are a bunch of Australian companies involved in the importation and sale of said product who will benefit... not as good as spending on a local service but still not totally pointless

economy has been good for a long time... a lot of people have made a boatload of money... time to tighten the belts and cop it on the chin... there are always people worse of than you

[paulr33]

and FYI ATM fee's are going up again

some banks want to change for each individual transaction, so if you do a balance, then withdrawl they'll hit you twice, ie $5

[lilkaaay]

i believe short term stimulus packages are not the answer.

overall tax cuts is a better way to address the current economic issues in my opinion.

wow! in your opinion!?! i totally agree with you Matthew