Mugabetown - Whoretownin' At It's Worst.

[t5iv]

Welfare reform had been required for a long long time. Good to see it in.

Yes, McFly, he won't be happy with the deficit levy.

[sneakey pete]

This I like

MPs super freeze

The Government has made a submission to the independent Remuneration Tribunal proposing to freeze the salaries

and allowances of parliamentarians (MPs), departmental secretaries and all other public office holders at current

levels for 12 months, over the period 1 July 2014 to 30 June 2015.

The freeze will also apply to the pensions of

former parliamentarians received under the closed Parliamentary Contributory Superannuation Scheme.(Source:

Budget Paper No 2 [p 70].)

Now to introduce MP's salary caps

Woo, we can save a few million and everyone will feel happy about it while ignoring the multi billions being screwed out of them!

(and in a couple of years they can do what we did in QLD and re instate the rises with back pay while noone's looking)

[Ants]

Since i'm a young middle class single guy with no children this budget pretty much doesn't effect me. Some changes to HECS repayments for 2015-2016 but hopefully that'll all be paid off before the end of the decade and the effects will be minor.

TBH the budget doesnt really effect me substantially at this stage. All i know about it is i think i pay more tax lol

Yeah for once I seem to be one of those who will be least screwed by the latest budget.

Can't say I'm that upset about most of it TBH. Welfare cuts have been needed for a long time.

Pension age of 70 is a bit rough but by the time I get to retire I expect there will be no pension at all, so meh.

What's magic mike going to be upset about? Rich b*stard have to pay the defecit levy?

Lol, that's exactly what I thought! We've got a few accountants and lawyers here, what's the take on the budget?

see below mate

It effects you all.

We will all be paying more tax (effective from 1 July 2014) - I don't particular like the idea of paying more tax but bottom line is we need to

Tax Free Threshold frozen at 18,200 was to be changed to $19,401

Hopefully it will only be temporary - but how else are we to extinguish an underlying projected 60b cash deficit hanging over our heads over 4 years?

At least now we will be provided with a tax receipt effective from 1 July 2014 (so 2015 income year) which will summaries where and how our taxes have been applied - interesting that one (wonder what the admin costs for that will be?)

Salary sacrificing just went out the window with FBT rate to be increased to just under 50% effective from 1 April 2015

The Government confirmed that it was committed to cutting the company tax rate by 1.5 percentage points

(to 28.5%) from 1 July 2015. For large companies, the reduction will offset the cost of the Government's

1.5% Paid Parental Leave levy.

Medicare levy surcharge and private health insurance offset thresholds to be frozen.

Most dependant offsets to be abolished.

Super guarantee rate to go to 9.5% on 1 July 2014.

Option to be given to withdraw excess non-concessional superannuation contributions.

ATO staff reductions to be brought forward (with more quality staff retained I hope)

Family Tax Benefit changes: 2-year freeze on rates; other changes.

Fuel excise indexation to recommence.

Overall, I think that this budget is pretty fair.

It was no surprise that tougher measure had to be introduced.

Its a plan to get Australia back in the black and I am all for that.

Few things that concern me is the fact that the Carbon Tax and Mining Resources tax have yet to be repealed - the Govt needs to clarify new dates that it will take effect as it is now going stale and leaving other associated measures in limbo.

[t5iv]

That's a well thought out, even minded response Ants. Thank you for that. Ever thought of becoming an accountant?

[MagicMikeZ32]

So Federal budget was released last nite.

MagicMike aint gonna be happy

I don't mind chipping in the extra 2% tbh. Rather do it now while the aussie debt is still salvageable, however possibly could have reduced it over a greater length of time. But again, libs want to do it while still in power so the labs dont have as much to start with, because we know they'll just piss it away again.

Def happy that the young peoples welfare has been cut-ish. I never got any of that shit (except HECS). Had to work and study, and live away from home, why shouldn't every other f**ker? Sooner people are trained to look after themselves the better.

Also, if the bludgers can afford smokes, booze and tats, they can handle the cuts. Just have to sell more drugs.

Biggest win was reduction of forign aid.

Edited May 13, 2014 by MagicMikeZ32

[Ants]

That's a well thought out, even minded response Ants. Thank you for that. Ever thought of becoming an accountant?

lol

[t5iv]

Def happy that the young peoples welfare has been cut-ish. I never got any of that shit (except HECS). Had to work and study, and live away from home, why shouldn't every other f**ker?

Also, if the bludgers can afford smokes, booze and tats, they can handle the cuts. Just have to sell more drugs.

Yes. Yes. Oh so much yes! My brother doesn't get anything from the government and he had to be in Adelaide for uni. I didn't either.

[Ants]

I don't mind chipping in the extra 2% tbh. Rather do it now while the aussie debt is still salvageable, however possibly could have reduced it over a greater length of time. But again, libs want to do it while still in power so the labs dont have as much to start with, because we know they'll just piss it away again.

Def happy that the young peoples welfare has been cut-ish. I never got any of that shit (except HECS). Had to work and study, and live away from home, why shouldn't every other f**ker? Sooner people are trained to look after themselves the better.

Also, if the bludgers can afford smokes, booze and tats, they can handle the cuts. Just have to sell more drugs.

Biggest win was reduction of forign aid.

I don't think you will be too badly effected considering it only takes effect from $180k ATI

[MagicMikeZ32]

Yeah call it $1k or so

[sneakey pete]

I hope i'm earning that much by the time i'm your age...

[Ants]

I hope i'm earning that much by the time i'm your age...

You should already be earning more than the avg wage Pete.

[sneakey pete]

We'll see what happens come performance review time in June...

[Bunta]

I am not overly concerned by the budget, pretty much what I thought it would be, we are apparently in a mining boom, but don't touch them, we will claw back money in every other possible place *shrugs*

In other news, my plans to get a new job have been bumped up the priority list significantly, our department has been restructured quite significantly, no one is losing jobs, in fact they are adding some, but the chosen structure is so idiotic I need to leave. I am going to investigate becoming a consultant doing water quality analysis, 3rd party auditing of ERAs and erosion and sediment control. Oh and becoming a slum son of rajab like Donald Sterling.

Edited May 14, 2014 by Bunta

[Bunta]

I hate the rabjab auto change

[Ants]

I am not overly concerned by the budget, pretty much what I thought it would be, we are apparently in a mining boom, but don't touch them, we will claw back money in every other possible place *shrugs*

In other news, my plans to get a new job have been bumped up the priority list significantly, our department has been restructured quite significantly, no one is losing jobs, in fact they are adding some, but the chosen structure is so idiotic I need to leave. I am going to investigate becoming a consultant doing water quality analysis, 3rd party auditing of ERAs and erosion and sediment control. Oh and becoming a slum son of rajab like Donald Stirling.

all the best for the new job hunt Bunts.

[Bunta]

all the best for the new job hunt Bunts.

Cheers! I might ride it out until Canada next year but we will see, I have wanted to go out on my own under the banner of my sisters consulting group for a while now. With no more home loan repayments this may be the time!

[SCR48]

Just had lunch., now back to work

[Bunta]

I am having a 1kg burrito for lunch, I can tell already its a bad idea

[Ants]

I am having a 1kg burrito for lunch, I can tell already its a bad idea

lol

[Bunta]

lol

I cant resist a challenge, haha. I am recovering from a stomach bug too, it has disaster written all over it!