Federal Election

[octave]

And all the labor pundits on this forum are hiding ,got nothing to say?

 

Oh come on Gareth, give us a break only just got out of bed. As far as hiding goes, one side wins and one loses is nothing to cry about. I will always be progressive because I believe it is the only way to go and I do not want to go back to the past as SOME conservatives seem to want to. I also want our country to prepare for the future not hide from it. My wife and I have just moved into semi-retirement thanks to our super, my now parents now in their 90s live on the pension because during their working life superannuation was a privilege that was not available to them until compulsory super.

 

Anyway, I am as happy and contented today as I was yesterday and the day before. How are you? Your posts seem to always have an angry edge to them.

 

 

[Phil Perry]

And all the labor pundits on this forum are hiding ,got nothing to say?

Labor / Labour in the UK, are exactly the same mate. . .Magic Money tree to pay for everything,. . .Let's Nationalize everything. . yeah,. . just like they did in the last Reign of Terror, from 1997 to 2010. . . we now have train drivers ( Automatic Trains ) paid over £50,000 per annum to sit in a cab and monitor the computer. . . and go on strike more than any other manual worker in this country for no reason at all. . .,. . .and always get what they want after paralysing the capital city for weeks. . . . . I would cheerfully stand the twots against a wall and fecking shoot the lot of them.

 

 

[octave]

oh dear scot wins the towels are on there way for those off you that are crying go scotand by the way your free solar panel and wind turbines are on there way out neil

Neil, I can only speak for myself but I think you overestimate the importance of who wins or loses to me. My daily life does not change much either way regardless of Lib or Lab government. I am still having a happy life so I will forgo the towel but thanks for the offer. So congrats to you (and the large banks) you must be so relieved:smile:

 

 

[gareth lacey]

Octave,far from it i am living the dream,building an aircraft,volenteer in a school for underprivileged kids,look after and adore my 4 1/2year old grandaughter 2 days and drive for old folks bus 1 morning si not angry at all

 

 

[octave]

Octave,far from it i am living the dream,building an aircraft,volenteer in a school for underprivileged kids,look after and adore my 4 1/2year old grandaughter 2 days and drive for old folks bus 1 morning si not angry at all

That is good to hear.

 

 

[old man emu]

I guess it is watch this space, but anyone willing to offer me 20:1 on a LNP win?

I can't see ScoMo calling in the removalists to The Lodge next Monday. I'm still showing 1:20 for a LNP victory.

Jerry,

 

Where do I return your $20 stake and $1 winnings?

 

And why has it taken Labor supporters here until 9:30 am to post? Because we have been steeling ourselves for a return to 12-hour, six-day working weeks of mid-Victorian times. No social service support, no ability to get a living wage rate for our labour, no affordable health care. Energy prices making the use of ICE cars prohibitive and Beijing-style air quality .

 

My electorate had a 2% increase in Liberal vote. Next time you fly into Camden, from the direction of Bankstown or Parramatta, note the $750,000-per-dwelling slums of the 22nd Century.

 

 

[storchy neil]

since the election was called I have been on the ground door nocking letter box dropping and at a prepoll booth

 

have been abused told to get a job that that f/w wont get in and the most of the crap came from take a stab in the dark

 

yep if you said labor and the greens YOU are the winner :gaah:so it just goes to show the mentality of the sheep the followed shorten and dr de idiot

 

according to shorten and greens many who have saved and put money away for that rainy day have to give it to the bludgers

 

the persons that vote labor or greens should have a sighn on the gate saying that they want more taxes more costly electricity genital mutalation

 

oh by the way me mates wife who has a mouth cancer HAS PAID OUT OF POCKET expences zero neil

 

 

[facthunter]

Clive Palmer is taking ALL the credit for it, so you better reward him.. A lot of scaremongering went on that actually wasn't correct but I suppose that's OK. if it works. Sco Mo called it a MIRACLE so there's a lot happening. and a lot to be done. Australia is more divided than ever. Some want it that WAY... The Warringah warrior has been dispatched convincingly (by a woman too) He won't like that. God works in mysterious ways.. indeed. Nev

 

 

[facthunter]

You know NOTHING real about Bill Shorten Neil. so why do you CLAIM to KNOW him? You read like a Murdoch editorial.. The coming Chaos with the Nats/Liberals is yet to play out.. There's still simmering hate in their ranks over things that were deliberately never allowed to be mentioned in the lead up to the election. It's not all peace and love by any means and what do THEY OWE Clive?. Lambie back in perhaps ? That's OK by me.. Nev

 

 

[octave]

since the election was called I have been on the ground door nocking letter box dropping and at a prepoll boothhave been abused told to get a job that that f/w wont get in and the most of the crap came from take a stab in the dark

 

yep if you said labor and the greens YOU are the winner :gaah:so it just goes to show the mentality of the sheep the followed shorten and dr de idiot

 

according to shorten and greens many who have saved and put money away for that rainy day have to give it to the bludgers

 

the persons that vote labor or greens should have a sighn on the gate saying that they want more taxes more costly electricity genital mutalation

 

oh by the way me mates wife who has a mouth cancer HAS PAID OUT OF POCKET expences zero neil

Geez, Neil, your side won and you are still angry and unhappy. Winning gracefully is just as important losing gracefully.

 

 

[Methusala]

 

The scare campaign against the share dividend imputation giveaway was the clincher. This was nominated by over 40% in polling as a "game changer" despite it only affecting about 2% (those who ran targeted strategies in SMSF's).

 

This was an election where the Liberals ran any and every lie and were unchallenged by any substantial media group. Carte-blanche.

 

This is the death knell to any hope of a return to politics in the 70's or 80's in Australia. Luckily for us it will not much affect us materially but it will advance the US model of a very poor and powerless working class and an increasingly powerful and dwindling no of uber-capitalists. Farewell to the light on the hill.

 

Sad, sad, sad...

 

Not very cheerily Methusala

 

 

[Methusala]

now I will as a retiree know that MY money that I Earned is safe from the pilfering lefties

Don't try to peddle the same lies as Scummo. Nobody earned the lump of money that you receive as an "imputation credit". This was was paid in TAX by the company paying the dividend. This was paid by the company as income tax and, through a scam devised by Howard and Costello, gifted to you as a shareholder. Nobody, and especially not a comfortable retiree, should expect to obtain dividends from a listed company, completely free of tax. FULL STOP- stop your rot!!!

 

 

[Methusala]

PS.

 

We "lefties" are really in the middle. Just want to see people treated fairly.

 

 

[Yenn]

Surely if I own shares I should get the profit that the company made. Plus I would have to pay tax on that profit. That means that as I earn to little to have to pay tax, I will not have to pay anything. If the company could just pay its shareholders their dividend then the tax paid would be according to each shareholder tax requirements. Having the company pay tax and then having the shareholders pay again is double dipping.

 

 

[gareth lacey]

I don't own shares so don't get franking credits, my money was accrued other ways, not through fiddling, I agree with you on the franking credits, just so you know My money was earned fair and square and no I will not share it with lesser people who don't think ahead, 51 years in Aus and I have seen what labour did financially in the time they were in office , labor themselves have served the top end of town and their rich friends as well as Libs but personally I have always done well under Libs not labor

 

 

[Litespeed]

Clive Palmer bought the lnp a election.

 

Aided by the Murdoch media and friends.

 

The country lost, the people voted for more bad years and coal madness.

 

 

[octave]

I don't own shares so don't get franking credits, my money was accrued other ways, not through fiddling, I agree with you on the franking credits, just so you know My money was earned fair and square and no I will not share it with lesser people who don't think ahead, 51 years in Aus and I have seen what labour did financially in the time they were in office , labor themselves have served the top end of town and their rich friends as well as Libs but personally I have always done well under Libs not labor

I am personally thankful for the superannuation guarantee and also Medicare. I have never minded paying tax to support others such as pensioners and the medical treatment of others. I am not wealthy but I guess supporting my community when I can and drawing from it when I need help just seems to be a happier healthier way to live.

 

 

[spacesailor]

"The good guys won."

 

Now lets see if the promises turn to LIES.

 

Another term of Pensioner Poverty.

 

No shares here, just the pension that my TAX payed for.

 

spacesailor

 

 

[Methusala]

"My money was earned fair and square and no I will not share it with lesser people who don't think ahead."

 

I'm in the same boat as you and don't see where in Labor policy I was required to share any more of it with "lesser people".

 

I think that tax due on all forms of income needs to be paid according to the individual's ability to pay a fair share.. Many "self-funded retirees" have clever accountants who can structure their fund to give them a refund or gift when they are not paying tax. This occurs when their income is in the form of tax free payments on their super. They are not "self funded" because they are being paid by the tax office. Simply not fair and not hard to get your head around unless you don't want.

 

 

[gareth lacey]

Yes super is good for people on fixed incomes and medicare has been a benefit for all people, volunteering I see the waste given to the so called socio economic l welfare recipients, mums and dads who cry poor but spend loads of your tax money(I no longer pay taxes on income)tattoos, grog, cigarettes, yet their children come to school and we then provide breakfast because they do not get it at home , no I do not want to contribute to those people and yes I did contribute taxes that went to our aged pensioners and social welfare is good but sometimes we have to say enough is enough and people should be made to take ownership of their own destiny

 

 

[red750]

When you earn a wage, the employer deducts the PAYE tax from your earnings and sends it to the ATO. At the end of the year, the employer gives you a group certificate (or nowadays you or your tax accountant prints it off from mygov), which shows how much you earned, and how much tax had been deducted.

 

If, when your taxable income was calculated, your marginal tax rate is lower than the rate at which your employer calculated the PAYE, ie. you paid more tax than you should, you claim the overpayment as a tax refund, If your marginal rate is higher, you pay the shortfall.

 

The same applies with imputation credits. Your dividend is $100, the company deducts $30 (30% company tax rate) and pays you $70. If your marginal tax rate is 20%, the company deducted $10 too much (they don't know your marginal tax rate). They send you the document telling how much dividend you were entitled to and how much tax they deducted. You include the full amount ($100) as income, and $30 as tax paid. You receive the $10 as a tax refund.

 

If your marginal tax rate is 35%, you pay the $5 shortfall. No-one gets a "gift", and no-one pays more than they should.

 

So many scream about the rich getting richer. If everyone who has shares sold them, the ASX would crash, companies would close down and no-one would have a job. Companies rely on their shareholders, in order to operate.Thousands of shareholders are ordinary working people who bought shares in Telstra, Commonwealth Bank, etc., as part of their superannuation. If you have a superannuation account, a lot of that is invested in shares. By the way, the only shares I ever owned were AMP shares I got when the company demutualised, and I sold them because I needed the money.

 

 

[gareth lacey]

I paid all the legal tax requirements on the money I earned and should not pay any more on the cash that I live on, if I buy stuff I pay tax user pays ,I no longer earn income , the cash I get is for my retirement(been retired 8 years now 71) have paid more than my share

 

 

[Methusala]

To prevent people paying tax TWICE on company dividends, Keating introduced "Franked Dividends". These are dividends on which the company has paid 30% company tax. If I have these shares and earn income from my labor I would be at risk of being taxed twice when earned income and share dividends were added together as a total. So the company tax (30%) is subtracted from my declared income. No double taxation. You don't pay income tax on super payouts but the dividends from super fund assets is taxed. Some people can avoid this tax through Tax Office payments called credits. This is not the way it was intended to be and no other country in the world pays these credits out.

 

This is very difficult to understand, particularly if you are being told by politicians that you are entitled. This is why I say that this policy has been most responsible for Labor falling short. As Hewson found in the 90's with his "Fightback" election, there are huge problems when trying to explain difficult truths during an election campaign. I doubt that it will ever be attempted again.

 

BTW I was so convinced that Labor would lose this that I was tempted to invest $100 at 4.50 to one betting on Scummo. I didn't need the money and am not a gambler.

 

 

[willedoo]

Have been out all day and just catching up with the news. Personally, I'd rather suck a boil than vote Liberal. Having said that, the Liberal fan club are well and truly entitled to bragging rights. Winners are grinners.

 

 

[willedoo]

Looking at the latest numbers, it's Coalition 73, Labor 66, crossbench six and another 6 undecided. The Coalition needs another three to have a one seat majority if a crossbench member is speaker. If the undecided seats split 50/50, The Liberals have a net gain of one seat giving a majority, while Labor would be on the same number they started with. In reality, the huge win / huge loss thing is only in context to what expectations were. So it's really not much change from the last election result.

 

From this point forward, possibly the best thing would be a government majority. I'm not sure what the virtues of minority government are, probably not many.