Australian Politics Forum - New Rudd-Labor bank deposits tax?

Maqqa Gold Member Offline 14% - that low?! Posts: 16000	Re: New Rudd-Labor bank deposits tax? Reply #30 - Aug 1^st, 2013 at 7:05pm Wong came out today saying this tax is to "insure against bank collapse" like the ones happen during the GFC Guess what??!!!! Which banks in Australia collapsed during the GFC This is a "just in case tax" Or is it a tax to pay for Labor's incompetences?
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red baron Gold Member Offline Australian Politics Posts: 10204 Blue Mountains Gender:	Re: New Rudd-Labor bank deposits tax? Reply #31 - Aug 1^st, 2013 at 7:15pm Just when we thought that Labor was going to cream the Libs, Kevvy comes to the rescue. Taxing bank deposits then hitting smokers with a 12% tax rise per year for 4 years. Onya Kevvy, knew you would f....k up big time. And little buddy, you sure didn't let us down.
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Innocent bystander

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Re: New Rudd-Labor bank deposits tax?
Reply #32 - Aug 1^st, 2013 at 7:26pm

Maqqa wrote on Aug 1^st, 2013 at 7:05pm:

Wong came out today saying this tax is to "insure against bank collapse" like the ones happen during the GFC

Guess what??!!!!

Which banks in Australia collapsed during the GFC

This is a "just in case tax"

Or is it a tax to pay for Labor's incompetences?

Another term of Rudd and maybe the banks will collapse Grin

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namnugenot Gold Member Offline Australian Politics Posts: 639 NSW Gender:	Re: New Rudd-Labor bank deposits tax? Reply #33 - Aug 1^st, 2013 at 7:42pm So if the tax is to insure against bank collapse it must go somewhere other than to consolidated revenue. If it did it would mean that the bank guarantee, other than in the event of a actual collapse, would cost, and did in fact cost, nothing. So where is the money raised actually going?
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Kat

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Re: New Rudd-Labor bank deposits tax?
Reply #34 - Aug 1^st, 2013 at 8:07pm

cods wrote on Aug 1^st, 2013 at 3:54pm:

adelcrow wrote on Aug 1^st, 2013 at 3:53pm:

I see nothing about a deposits tax but i do see an effort to get banks to help pay for taxpayer funded guarantees.

where will this tax go into consolidated..????????????????????

in other words down the drain.

No.

Apparently it's to be quarantined so it can only be used for the designated purpose.

It will not be going into consolidated revenue.

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namnugenot

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Re: New Rudd-Labor bank deposits tax?
Reply #35 - Aug 1^st, 2013 at 8:17pm

Kat wrote on Aug 1^st, 2013 at 8:07pm:

cods wrote on Aug 1^st, 2013 at 3:54pm:

adelcrow wrote on Aug 1^st, 2013 at 3:53pm:

I see nothing about a deposits tax but i do see an effort to get banks to help pay for taxpayer funded guarantees.

where will this tax go into consolidated..????????????????????

in other words down the drain.

No.

Apparently it's to be quarantined so it can only be used for the designated purpose.

It will not be going into consolidated revenue.

Quarantined where?

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red baron Gold Member Offline Australian Politics Posts: 10204 Blue Mountains Gender:	Re: New Rudd-Labor bank deposits tax? Reply #36 - Aug 1^st, 2013 at 8:21pm Rudd would steal the milk from a baby's bottle if he thought it would help him pay for his PNG solution.
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KJT1981

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Re: New Rudd-Labor bank deposits tax?
Reply #37 - Aug 1^st, 2013 at 8:27pm

Kat wrote on Aug 1^st, 2013 at 8:07pm:

cods wrote on Aug 1^st, 2013 at 3:54pm:

adelcrow wrote on Aug 1^st, 2013 at 3:53pm:

I see nothing about a deposits tax but i do see an effort to get banks to help pay for taxpayer funded guarantees.

where will this tax go into consolidated..????????????????????

in other words down the drain.

No.

Apparently it's to be quarantined so it can only be used for the designated purpose.

It will not be going into consolidated revenue.

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Lobo

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Re: New Rudd-Labor bank deposits tax?
Reply #38 - Aug 1^st, 2013 at 8:42pm

longweekend58 wrote on Aug 1^st, 2013 at 6:15pm:

Lobo wrote on Aug 1^st, 2013 at 4:49pm:

adelcrow wrote on Aug 1^st, 2013 at 4:43pm:

cods wrote on Aug 1^st, 2013 at 4:08pm:

adelcrow wrote on Aug 1^st, 2013 at 4:04pm:

Geez you neo cons luv jumping at shadows...wait for the actual policy details and then carry on like pork chops coz Im more than certain that if Kevin tried to tax peoples deposits Labor would lose every seat at the election and the party would cease to exist.

oh its facts adel you will get the bad news tomorrow...

I wonder how much of the futurefund has been used by this govt... its just a thought!!!

Like Ive said..if it is Labors intention to tax deposits you will have no need to worry about Labor ever getting back into power so you should be celebrating.
Crikey..even I'd vote for Tony Abbott if Labor tried to tax deposits.

Crikey!!!
I wouldn't go that far....

Wink

why not? they've done it before with the Financial Institutions Duty - a good labor tax - that was removed as part of the GST although Costello had to threaten a few states first!

Keep up, longy....
I was talking to adel about voting for Abbott...

Cheesy

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"What's in store for me in the direction I don't take?"-Jack Kerouac.

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Lobo

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Re: New Rudd-Labor bank deposits tax?
Reply #39 - Aug 1^st, 2013 at 8:57pm

red baron wrote on Aug 1^st, 2013 at 7:02pm:

Way to go Labor just when I was starting to think that the Liberals were looking a whiter shade of pale, you pull this one out of the hat.

Taxing bank deposits, I don't care how many percentage points or how low it is, of course it is the thin edge of the wedge.

Federal Governments have traditionally guaranteed bank deposits and there are very stringent rules on the banking sector. That is exactly why we didn't go down during the Global Financial Crisis. The regulations prevented the banks from going speculation mad like most of the world

Now this shonkey Government wants to tax the average person to provide a fund to 'guarantee' bank deposits.

Go f...k yourself Rudd this is the biggest bullshit exercise at blatant revenue raising I have ever seen from a Government.

You are going to get your sorry arse kicked big time for this lulu.

National Australia Bank chief Cameron Clyne said he would not comment on the government’s plans for a levy on bank deposits until he was more informed about the proposal.

“Option one is I’ll make an ill-informed smart alec response without any facts.

Option two is I will research the information, I will seek information from Treasury officials to understand the thinking and make an informed comment.

You want the former, I’m giving the latter,” he said.
--------------

Unlike some on here.....

Cheesy

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"What's in store for me in the direction I don't take?"-Jack Kerouac.

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perceptions_now Gold Member Offline Australian Politics Posts: 11694 Perth WA Gender:	Re: New Rudd-Labor bank deposits tax? Reply #40 - Aug 1^st, 2013 at 9:07pm It would be novel, IF Politicians did 2 major things - 1) Be honest & tell the Public what is really happening! 2) Admit they really have no idea what the hell they are doing, because all of the old "fixes", simply are no longer working!
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miketrees Gold Member Offline Australian Politics Posts: 6490 Gender:	Re: New Rudd-Labor bank deposits tax? Reply #41 - Aug 1^st, 2013 at 10:23pm Can I just do all my banking overseas to avoid any new tax?
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Sprintcyclist Gold Member Offline OzPolitic Posts: 40955 Gender:	Re: New Rudd-Labor bank deposits tax? Reply #42 - Aug 1^st, 2013 at 11:47pm That's the left for you. Spend too much money. Invent new taxes.
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Bobby.

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Re: New Rudd-Labor bank deposits tax?
Reply #43 - Aug 2^nd, 2013 at 7:16am

perceptions_now wrote on Aug 1^st, 2013 at 9:07pm:

It would be novel, IF Politicians did 2 major things -
1) Be honest & tell the Public what is really happening!
2) Admit they really have no idea what the hell they are doing, because all of the old "fixes", simply are no longer working!

If I knew that the aussie dollar would devalue by 15% in 3 months I would have
put my money in a USA bank.

To have yet another tax on my money is too much to bear.

We can't win.

The Govt. are thieves.

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BlOoDy RiPpEr Gold Member Offline aussie-patriot.com Posts: 2475 Sydney Gender:	Re: New Rudd-Labor bank deposits tax? Reply #44 - Aug 2^nd, 2013 at 9:07am The best option is to ask for your pay in cash then invest it in Gold.
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