Luxury car tax up.

[Dave]

Sorry - I should mention that I'm well and truly over idiots today.
I happened to stumble upon a blog on The Age where the author was whinging that singles need more tax breaks.
Some of the responses from your 'Average Joe' were just mind boggling.

Don't start reading those reponses on the news sites, it will send you totally crazy in about 2 seconds, for a laugh have a look at the responses to any 'house price' story, it is sad and funny both at the same time

[trent from punchy]

Packer still paid god knows how many 100 times more tax than you or I pay.

and he still managed to get austudy when going to school.

[Vicko]

I wouldn't have thought Austudy was around when Kerry went to school..

[F|sh]

"The budget we had to have".

That sends chills down my spine.

Does seem like de javu doesn't it

[IMOA]

Iirc packer wasn't domiciled in australia. I read about his tax structure about 15 years back and it was a very clever exploitation of a temporary loophole that his father found which effectively had him living in no country at all. I think it's covered in paul barry's book.

[Corso]

Then who's going to work for nothing for the packers. Ohh and if you believe that doesn't occur go ask the ATO about Packer, everyone knew he rorted the system... not much you can do about he had every good tax QC etc on retainer though.

Er, I wouldn't say that. You can't exactly "rort" the system if you pay the amount of tax you are liable for. People like Packer are permanently in the bull's eye of the Tax Office and are subject to scruitiny on every single return than you would ever encounter over the course of your lifetime; the reason being is if they can bust the high-profile earners its great for PR for a government department that everyone hates plus its sends a rather public message: don't fuck with the ATO.

If their return stands up, then its fine. Packer was hauled before a legislative inquiry and was rather frank about his state of affairs, "I pay the tax I owe, and not a cent more." Can't argue with that. As much as you like to think its easy to rort if you have the money to do it, there's a catch-all provision in the Income Tax Assessment Act - there's nothing wrong with tax minimisation , however there is a massive difference with tax avoidance. Get done for the latter and you get well and truly screwed, just like the guy who got busted by Task Force Wickenby (funded by the Australian Government with $305 million budget, brings together the Tax Office as the lead agency, the Australian Crime Commission, the Australian Federal Police, the Australian Securities and Investments Commission and the Commonwealth Director of Public Prosecutions) is currently out and about on $4 million dollar bail...

Do you really think that QCs are magicians who wave a wand to make everything better? Think about it :knock:

[sillywet]

Baby Bonus - I'm actually pretty happy with the way Labor's going. I mean I love living in a country where the exact fucking retards who you don't want reproducing are given a nice little bounty with which to buy their smokes and premixed Jim Beam tins. Heaven forbid actually giving something back to the higher income earners who will probably raise kids with more chance of staying out of trouble and advancing our country through their smarts rather than their ability to push trolleys and graffiti my fence.

LCT - now not only do I have to work my arse off to afford that Porsche that I will continue to dream of, but now I can also save a little extra to throw straight to Wayne, Kevin and Jules to increase the funding for dribble trays for the retarded kids who get born into a welfare supported, alcoholic, drug addicted family.

No double dip - How good. I bought myself a laptop this income year as opposed to a much cheaper desktop computer to take advantage of salary sacrificing and depreciation. Thanks for getting rid of that as of this next year without giving those who entered the program already the chance to fully depreciate their asset. Nice work Wayne you fuckface.

Rich people getting more tax deductions - good on them. Pretty sure their hunt for efficient tax planning keeps me and a swag of other high-tax-paying-people employed.

Oh well, here's hoping in 3 years things will be different... I just hope he can deliver on his fresh ideas ie the fresh ideas from the delegates at the 2020 summit ie the cross section of Australians who were invited ie half the people were either expats or dumb fucks who would be asking for assistance to get their 10th tattoo.