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Unions Back Tax Crackdown On Rich (Read 1145 times)
Sir Crook
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Unions Back Tax Crackdown On Rich
Apr 30th, 2016 at 7:39am
 
Federal budget 2016: ACTU backs tax crackdown on rich, multinationals to help save $128b   

Date
    April 29, 2016
    Sydney Morning Herald

Tax breaks used by the wealthy are exacerbating deficits and eroding essential services, while making life harder for ordinary households, according to the ACTU.   Sad

The unions' peak body has unveiled its priorities for the federal budget, which include crimping negative gearing and halving the capital gains tax discount, as well as the introduction of a 15 per cent tax on superannuation earnings exceeding $50,000 a year.
ACTU president Ged Kearney: "Tax loopholes that advantage the super-wealthy are fuelling inequality.''

'

The proposals came as Prime Minister Malcolm Turnbull defended his description of negative gearing 11 years ago as a legal form of "tax avoidance".


The ACTU claims $128 billion can be saved over the next decade. Its model is based on ending multinational tax avoidance, scuppering generous tax deductions for the well-off, and introducing a flat minimum income tax rate for the most wealthy to ensure they pay at least some income tax.   Smiley

"Tax evasion by big corporations plus tax loopholes that advantage the super-wealthy are fuelling inequality and costing our country billions," ACTU president Ged Kearney said.


Treasurer Scott Morrison says the budget blueprint is geared towards rewarding those taking risks.

The ACTU is calling for the introduction of a "Buffet tax", so named because it has been advocated by one of the world's richest men, Warren Buffet, who thought it was immoral that he was required to pay less income tax than his secretary.

According to the ACTU's calculations, that alone would raise an extra $2.5 billion a year.

Speaking to the Canberra press gallery on Friday, Treasurer Scott Morrison acknowledged his first budget was no ordinary affair - occurring just days before Mr Turnbull plans to visit the Governor-General Sir Peter Cosgrove to have both houses of Parliament dissolved for an election on July 2.


Malcolm Turnbull: ''Tax avoidance is legal; it may be undesirable and you may want to change the law to avoid it."

He said the blueprint was geared towards rewarding those taking risks, within what he termed "a difficult economy".

While describing his past intention to cut back on "excesses" in negative gearing as "enthusiasms", he hinted that some change may yet be included.

"As we look across the tax system and the way the tax system works, we need to ensure that it is sustainable for the future, and I will be making some further announcements about that next week in the budget," he said.

Any move to narrow the field of negative gearing opportunities for investors would represent another direction change. The government initially flagged taking some action, and then comprehensively walked away from it when Labor put forward a policy of limiting negative gearing to new properties from 2017.

"What I do know, though, is you must preserve the opportunity for Australians to try and get ahead," Mr Morrison said. "The sorts of issues that you refer to or the enthusiasms that I referred to on other occasions are very minimal, very small, and you don't want to do something that puts at risk the broader performance of the Australian property market.

"I think even those who are fans of changes to negative gearing know that Labor's proposal in its composition is confusing and would be disruptive to property markets and undermine the performance of those markets and thereby undermine the value of Australians' homes."

In an interview on Melbourne's 3AW on Friday, Mr Turnbull attempted to explain why he had referred to negative gearing in 2005 as "tax avoidance".

"Well that's taking it out of context ... What I was saying was that the average wage earner, salary earner, has very limited opportunities to reduce their tax ... I go back to my days of law school. Tax avoidance is legal; it may be undesirable and you may want to change the law to avoid it. Tax evasion is what is illegal."

The ACTU's plan involves largely mirroring Labor's policy on negative gearing, limiting it to new properties from July 2017, and halving the capital gains tax discount.

However, its policy on concessionally treated superannuation would tax contributions at the appropriate marginal tax rate "minus a 25 per cent offset", along with taxing super earnings at 15 per cent a year, with all tax rebated for earnings below $50,000 that year.

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cods
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Re: Unions Back Tax Crackdown On Rich
Reply #1 - Apr 30th, 2016 at 8:57am
 
I do hope they include those guys who ripped off the HSU members   one I believe to the tune of $5million.. somehow I doubt very much if that was included in their TAX return s..

I see where they dont actually mention them?.. Roll Eyes
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Re: Unions Back Tax Crackdown On Rich
Reply #2 - Apr 30th, 2016 at 9:33am
 
Its a brilliant strategy Labor and the unions are playing making it a class war election , you can tell the perception , well the reality the Libs only look after the top end of town is sticking like a blowfly to faeces , what with our richest PM ever and the Libs desperate to abolish penalty rates , why would the public think any different  Smiley
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cods
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Re: Unions Back Tax Crackdown On Rich
Reply #3 - Apr 30th, 2016 at 9:38am
 
have you noticed it the labtards that always speak of class and wars......aussie were proud that they had not class distinctions   but labtards do their best to divide and bring it all in... pretty sad really. I personally would not like this country to end up with a class war.
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Re: Unions Back Tax Crackdown On Rich
Reply #4 - Apr 30th, 2016 at 9:40am
 
cods wrote on Apr 30th, 2016 at 9:38am:
have you noticed it the labtards that always speak of class and wars......aussie were proud that they had not class distinctions   but labtards do their best to divide and bring it all in... pretty sad really. I personally would not like this country to end up with a class war.


That's why we're getting rid of the Libtards

Dur  Cheesy
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Re: Unions Back Tax Crackdown On Rich
Reply #5 - Apr 30th, 2016 at 9:46am
 
You Rtards got that sinking feeling yet , you must know its over by now  Smiley
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Re: Unions Back Tax Crackdown On Rich
Reply #6 - Apr 30th, 2016 at 9:50am
 
cods wrote on Apr 30th, 2016 at 9:38am:
have you noticed it the labtards that always speak of class and wars......aussie were proud that they had not class distinctions   but labtards do their best to divide and bring it all in... pretty sad really. I personally would not like this country to end up with a class war.


Well there is no denying the facts cods,

this mob are only interested in looking after themselves and the big end of town.

have you forgotten Mr Abbotts class warfare budget, half of which is still on the books held up by the great Senate.

Lets see what the Point Piper Silver Tail's budget brings forth, I suspect it will favour his rich mates.


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BAN ALL THESE ABO SITES RECOGNITIONS.

ALL AUSTRALIA IS FOR ALL AUSTRALIANS!
 
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Sir Crook
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Re: Unions Back Tax Crackdown On Rich
Reply #7 - Apr 30th, 2016 at 9:55am
 
Well said Redneck how could one forget about Mr Abbott, and the budget of evil.   Sad
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Re: Unions Back Tax Crackdown On Rich
Reply #8 - Apr 30th, 2016 at 10:15am
 
Chuck This Corrupt Mob Out!
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BAN ALL THESE ABO SITES RECOGNITIONS.

ALL AUSTRALIA IS FOR ALL AUSTRALIANS!
 
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John Smith
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Re: Unions Back Tax Crackdown On Rich
Reply #9 - Apr 30th, 2016 at 10:25am
 
cods wrote on Apr 30th, 2016 at 9:38am:
have you noticed it the labtards that always speak of class and wars.


...

...


Cheesy Cheesy
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Our esteemed leader:
I hope that bitch who was running their brothels for them gets raped with a cactus.
 
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Re: Unions Back Tax Crackdown On Rich
Reply #10 - Apr 30th, 2016 at 11:00am
 
Redmond Neck wrote on Apr 30th, 2016 at 10:15am:
Chuck This Corrupt Mob Out!



you know I am almost inclined to vote labor...

I just know they can clean this mess up they started.

talking of corruption.. yep shortarse knows all about dealing with that Wink Wink

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Re: Unions Back Tax Crackdown On Rich
Reply #11 - Apr 30th, 2016 at 11:21am
 
cods wrote on Apr 30th, 2016 at 11:00am:
Redmond Neck wrote on Apr 30th, 2016 at 10:15am:
Chuck This Corrupt Mob Out!



you know I am almost inclined to vote labor...

I just know they can clean this mess up they started.

talking of corruption.. yep shortarse knows all about dealing with that Wink Wink



Indeed he does , no charges from the 85million dollar RC that's secured a solitary conviction

...

Julie responding to Cods post
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Re: Unions Back Tax Crackdown On Rich
Reply #12 - Apr 30th, 2016 at 12:10pm
 
[quote author=SupositoryofWisdom link=1461965975/2#2 date=1461972830]Its a brilliant strategy Labor and the unions are playing making it a class war election , you can tell the perception , well the reality the Libs only look after the top end of town is sticking like a blowfly to faeces , what with our richest PM ever and the Libs desperate to abolish penalty rates , why would the public think any different  Smiley[/quote]


Yep, And Bill looks after the cleaners at Spotless, getting them a much needed rate cut. That's looking after the bottom end of town. He probably organised a pay rise for himself on the back of his brilliant strategy.

Spotless isn't at the top end of town, is it? /sarc
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Re: Unions Back Tax Crackdown On Rich
Reply #13 - Apr 30th, 2016 at 12:17pm
 
[quote author=leeforward link=1461965975/12#12 date=1461982220][quote author=SupositoryofWisdom link=1461965975/2#2 date=1461972830]Its a brilliant strategy Labor and the unions are playing making it a class war election , you can tell the perception , well the reality the Libs only look after the top end of town is sticking like a blowfly to faeces , what with our richest PM ever and the Libs desperate to abolish penalty rates , why would the public think any different  Smiley[/quote]


Yep, And Bill looks after the cleaners at Spotless, getting them a much needed rate cut. That's looking after the bottom end of town. He probably organised a pay rise for himself on the back of his brilliant strategy.

Spotless isn't at the top end of town, is it? /sarc[/quote]

It matters little , the swinging voter would've long forgotten about that when medicare cuts , penalty rate cuts , high unemployment , lowest wage growth , an economy in Deflation, yes deflation, no changes to 7.7billion worth of corporate welfare, dodgy submarine deals, 60billion extra of net debt and a budget deficit that's doubled are playing out front and centre, right before our very eyes .
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Re: Unions Back Tax Crackdown On Rich
Reply #14 - Apr 30th, 2016 at 12:22pm
 
Its time wrote on Apr 30th, 2016 at 12:17pm:
It matters little , the swinging voter would've long forgotten about that


Never let the facts get in the way of a good story? Got it.
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