Rudd's move on hobby farms

[Jovial Monk]

Another loophole that could be plugged, again from peter martin's blog:

The Institute says the top 1 per cent of Australian taxpayers receive 39 per cent of the nation's capital gains and so benefit disproportionately from concessions such as the low tax rate and exemption of the family home.

Family homes under say $500K could be exempted.

[Hebe]

Was there a link for whatever this story was about?

I demand sources!

[Jovial Monk]

Yes boss, and I am sorry your other slave died!


http://petermartin.blogspot.com/2009/04 ... s-and.html
Original paper: https://www.tai.org.au/file.php?file=cap_gains.pdf

Gawd, could gain $30Bn or so in tax revenue!

[Jovial Monk]

You know, am about 3/4 through Paul Krugman's "The Concience of a [small 'l']Liberal"

The things the neocons wanted we have seen: obscene CEO salaries/benefits even when they run the company into the ground and then the million tax loopholes so tax is something paid by the morons below them on the income scale we have seen here thanks to Howard & Costello! All those tax cuts to the rich, the benefits to wealthy self funded retirees (who already got tax breaks on super, tax loopholes like hobby farms etc) financed by cutting spending on infrastructure and public health and education.

Thankfully, their day is over.

[Hebe]

Yes boss, and I am sorry your other slave died!


http://petermartin.blogspot.com/2009/04 ... s-and.html
Original paper: https://www.tai.org.au/file.php?file=cap_gains.pdf

Gawd, could gain $30Bn or so in tax revenue!

Yep, that seems fair. But I wouldn't like to see it go so far that initiative is stifled and hard work not rewarded, otherwise why would anyone bother/

[Jovial Monk]

Nah, just fairer tax treatment.

[Jovial Monk]

MEANS testing of the private health insurance rebate and removing subsidies for some "extras" are among changes being considered by the Federal Government.

The Government is desperate to find billions of dollars in new savings, and is considering changes to the $3.5 billion scheme despite committing to it before the last election.

Among options being discussed is a means test to stop wealthier households claiming the 30 per cent rebate on private health premiums.

There could also be new limits on what can be claimed, with the removal of certain ancillary items available in some policies. This could include alternative and complementary therapies, which, under some policies, can include Rolfing*, the Alexander technique, kinesiology, reflexology and Bowen therapy.

Here is the link boss: http://www.news.com.au/adelaidenow/stor ... 01,00.html

Tanner has hit the ground running! Rorts removed root and branch while you wait!

I occasionally have reflexology--foot massage, very relaxing (I don't believe the crap about meridian lines from our organs going through the feet but the actual massage is great!)--but pay for it out of my own money and don't claim it.

*Rolfing is a totally useless form of massage that must have made Ida Rolf some tidy ching. http://www.rolf.org/

[Jovial Monk]

Oh dear, Sheepy doesn't like these changes, he might have to pay the full price of his private health cover!

Ask anyone associated with public health and they will say Howard's rebate was a disaster, draining funds but not workload from public hospitals.