Australian Politics Forum - In Many Cases, Its Welfare For The Wealthy

lee

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Re: In Many Cases, Its Welfare For The Wealthy
Reply #255 - Feb 13^th, 2019 at 9:41pm

John Smith wrote on Feb 13^th, 2019 at 9:18pm:

and your spending is related to your income, no?

no petal. I am a saver. Wink

John Smith wrote on Feb 13^th, 2019 at 9:18pm:

lee wrote Today at 6:53pm:
What the World's Greatest treasurer wrong? Heresy. Grin Grin Grin Grin Grin Grin

everybody is wrong every now and then. Even St Paul

of course he is petal. You just wish and hope it was about dividend imputation. Wink

John Smith wrote on Feb 13^th, 2019 at 9:18pm:

you realise that repeating yourself isn't going to help you , right?

When faced with idiocy like yours you have to be treated like a computer. You have to punch the information in.

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philperth2010 Gold Member Offline Australian Politics Posts: 21097 Perth Gender:	Re: In Many Cases, Its Welfare For The Wealthy Reply #256 - Feb 13^th, 2019 at 9:47pm Baronvonrort wrote on Feb 13^th, 2019 at 9:31pm: This filthy new tax from Labor will only affect the poor people like Jill and anyone else on less than $37K a year who invested in shares. Bullshit!!! https://www.abc.net.au/news/2019-01-30/fact-check-labors-dividend-imputation-pol...
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Baronvonrort

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Re: In Many Cases, Its Welfare For The Wealthy
Reply #257 - Feb 13^th, 2019 at 9:50pm

philperth2010 wrote on Feb 13^th, 2019 at 9:47pm:

Baronvonrort wrote on Feb 13^th, 2019 at 9:31pm:

This filthy new tax from Labor will only affect the poor people like Jill and anyone else on less than $37K a year who invested in shares.

Bullshit!!!

Roll Eyes

https://www.abc.net.au/news/2019-01-30/fact-check-labors-dividend-imputation-pol...

From your link-
Quote:

As can be seen, according to Treasury's analysis, 86 per cent of the individuals who received refunds had taxable incomes of $37,000 or less.

It is to some extent self-evident that the policy will mostly affect individuals on incomes below $37,000, because $37,000 is the threshold for the 32.5 per cent tax rate, higher than the corporate tax rate of 30 per cent that determines the franking credit.

What part of that do you fail to comprehend you doofus?

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Leftists and the Ayatollahs have a lot in common when it comes to criticism of Islam, they don't tolerate it.

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Sir Grappler Truth Teller OAM

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Re: In Many Cases, Its Welfare For The Wealthy
Reply #258 - Feb 13^th, 2019 at 10:19pm

lee wrote on Feb 13^th, 2019 at 9:31pm:

John Smith wrote on Feb 13^th, 2019 at 9:16pm:

I told you to bugger of to the caymans, I didn't say send your money to the Caymans. You idiot.

No petal. You told crocodile. But so if croc buggered off the the Cayman's he would get his income transferred to there from any Australian investments. He would be taxed on the franked dividend. He would not be entitled to franking credits. But he would pay no income tax there. Wink

He could earn heaps and not pay income tax.

That's why we're working on an Offshore Obligatory Pecuniary Securement tax .. the OOPS .. they who offshore money pay an exit tax.... and an entrance tax if they wish to spend here.... fixes it all up ....

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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
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philperth2010

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Re: In Many Cases, Its Welfare For The Wealthy
Reply #259 - Feb 13^th, 2019 at 10:21pm

Baronvonrort wrote on Feb 13^th, 2019 at 9:50pm:

philperth2010 wrote on Feb 13^th, 2019 at 9:47pm:

Baronvonrort wrote on Feb 13^th, 2019 at 9:31pm:

This filthy new tax from Labor will only affect the poor people like Jill and anyone else on less than $37K a year who invested in shares.

Bullshit!!!

Roll Eyes

https://www.abc.net.au/news/2019-01-30/fact-check-labors-dividend-imputation-pol...

From your link-
Quote:

As can be seen, according to Treasury's analysis, 86 per cent of the individuals who received refunds had taxable incomes of $37,000 or less.

It is to some extent self-evident that the policy will mostly affect individuals on incomes below $37,000, because $37,000 is the threshold for the 32.5 per cent tax rate, higher than the corporate tax rate of 30 per cent that determines the franking credit.

What part of that do you fail to comprehend you doofus?

Read the link dickhead....Miss-leading???

Roll Eyes

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If knowledge can create problems, it is not through ignorance that we can solve them.
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Baronvonrort

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Re: In Many Cases, Its Welfare For The Wealthy
Reply #260 - Feb 13^th, 2019 at 10:27pm

philperth2010 wrote on Feb 13^th, 2019 at 10:21pm:

Baronvonrort wrote on Feb 13^th, 2019 at 9:50pm:

philperth2010 wrote on Feb 13^th, 2019 at 9:47pm:

Baronvonrort wrote on Feb 13^th, 2019 at 9:31pm:

This filthy new tax from Labor will only affect the poor people like Jill and anyone else on less than $37K a year who invested in shares.

Bullshit!!!

Roll Eyes

https://www.abc.net.au/news/2019-01-30/fact-check-labors-dividend-imputation-pol...

From your link-
Quote:

As can be seen, according to Treasury's analysis, 86 per cent of the individuals who received refunds had taxable incomes of $37,000 or less.

It is to some extent self-evident that the policy will mostly affect individuals on incomes below $37,000, because $37,000 is the threshold for the 32.5 per cent tax rate, higher than the corporate tax rate of 30 per cent that determines the franking credit.

What part of that do you fail to comprehend you doofus?

Read the link dickhead....Miss-leading???

Roll Eyes

Did you miss this bit ya doofus-

It is to some extent self-evident that the policy will mostly affect individuals on incomes below $37,000,

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Leftists and the Ayatollahs have a lot in common when it comes to criticism of Islam, they don't tolerate it.

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philperth2010

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Re: In Many Cases, Its Welfare For The Wealthy
Reply #261 - Feb 13^th, 2019 at 10:33pm

Baronvonrort wrote on Feb 13^th, 2019 at 10:27pm:

philperth2010 wrote on Feb 13^th, 2019 at 10:21pm:

Baronvonrort wrote on Feb 13^th, 2019 at 9:50pm:

philperth2010 wrote on Feb 13^th, 2019 at 9:47pm:

Baronvonrort wrote on Feb 13^th, 2019 at 9:31pm:

This filthy new tax from Labor will only affect the poor people like Jill and anyone else on less than $37K a year who invested in shares.

Bullshit!!!

Roll Eyes

https://www.abc.net.au/news/2019-01-30/fact-check-labors-dividend-imputation-pol...

From your link-
Quote:

As can be seen, according to Treasury's analysis, 86 per cent of the individuals who received refunds had taxable incomes of $37,000 or less.

It is to some extent self-evident that the policy will mostly affect individuals on incomes below $37,000, because $37,000 is the threshold for the 32.5 per cent tax rate, higher than the corporate tax rate of 30 per cent that determines the franking credit.

What part of that do you fail to comprehend you doofus?

Read the link dickhead....Miss-leading???

Roll Eyes

Did you miss this bit ya doofus-

It is to some extent self-evident that the policy will mostly affect individuals on incomes below $37,000,

Cherry picking....Telling half the story you deceitful prick....

Quote:

Mr Robert's claim is misleading.

Labor's policy applies to both individuals and superannuation funds. By focusing on individuals, Mr Robert is ignoring the impact that would flow through to members of superannuation funds, particularly self-managed superannuation funds, which account for almost half the refunds claimed.

Figures from the Parliamentary Budget Office show that almost a quarter of all refunds claimed in 2014-15 went to 33,761 self-managed superannuation funds with balances of over $2.4 million.

This is not to say the policy will have no impact on some individuals with modest incomes and wealth.

What is clear, however, is using the taxable income of individuals tells us little about the overall financial position of those affected, or about the fairness or otherwise of Labor's policy.

According a Labor policy paper, the "vast majority" of working Australians don't receive cash refunds for excess imputation credits.

"Recipients of cash refunds are typically wealthier retirees who aren't PAYG (Pay As You Go) tax payers. These are people who typically own their own home and also have other tax-free superannuation assets,"

The cost to the budget of the refund system for imputation credits is substantial. When the change allowing cash refunds was introduced, it cost the budget about $550 million a year, compared to about $5.9 billion a year in 2014-15, according to Treasury figures.

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If knowledge can create problems, it is not through ignorance that we can solve them.
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crocodile

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Re: In Many Cases, Its Welfare For The Wealthy
Reply #262 - Feb 13^th, 2019 at 11:02pm

stunspore wrote on Feb 13^th, 2019 at 8:26pm:

crocodile wrote on Feb 13^th, 2019 at 5:44pm:

John Smith wrote on Feb 13^th, 2019 at 5:18pm:

crocodile wrote on Feb 13^th, 2019 at 9:10am:

So in that case Jill is below the threshold for paying income tax yet she is not entitlled to a refund on the tax she has already paid

can i get a refund on GST I've paid if my taxable income falls below the threshold? Why are shareholders so shppecial?

GST is a consumption tax you fukking idiot

And that somehow matters. Everything can be resolved as "something that increases your money" and "something that decreases your money". Somehow certain amounts of money categorised in some way makes people obstinate.
Mostly political/self interest rather than "good for australia" that the coalition is arguing against the franking credits.

Horseshit. The credit is to avoid double taxing income, not expenditure.

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Very funny Scotty, now beam down my clothes.

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crocodile

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Re: In Many Cases, Its Welfare For The Wealthy
Reply #263 - Feb 13^th, 2019 at 11:05pm

John Smith wrote on Feb 13^th, 2019 at 8:36pm:

crocodile wrote on Feb 13^th, 2019 at 5:44pm:

John Smith wrote on Feb 13^th, 2019 at 5:18pm:

crocodile wrote on Feb 13^th, 2019 at 9:10am:

So in that case Jill is below the threshold for paying income tax yet she is not entitlled to a refund on the tax she has already paid

can i get a refund on GST I've paid if my taxable income falls below the threshold? Why are shareholders so shppecial?

GST is a consumption tax you fukking idiot

a tax is a tax is a tax. You're trying to justify one tax for one group of people, while overlooking another tax for another. I don't give a bugger if shareholders like you pay tax. For to long you've been profiting from other taxpayers. Screw you. Pay your tax or bugger off to the caymans.

The credit is designed to address double taxing of income, not consumption.

My ol' man always told me to never argue with fools. They drag you down to their level and beat you with experience. Try that.

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Very funny Scotty, now beam down my clothes.

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