Labor loves tax

[What'sinaname]

and like that, Labor remove the LMITO.

"More than 10 million middle-income Australians will cop one of the largest tax increases in Australian history after the May federal budget."

https://www.news.com.au/finance/money/t ... 2db597bf1d

[doriswilgus]

This tax offset was only meant to be a temporary measure until the stage three tax cuts came along.The Morrison government only legislated it until the 2021 2022 financial year,so it was always going to end this year anyway,no matter who was in power.

This story from the Australia Institute explains the situation in detail.

https://australiainstitute.org.au/post/ ... -increase/

So if you want to blame anyone for the end of the tax offset,then blame Morrison and Frydenberg.They designed the system,after all.

[What'sinaname]

Labor have a majority in Parliament in 2023 so they could have extended LMITO if they had wanted to, but they chose not to.

[doriswilgus]

Yes,they could have.But the point is the Liberals weren’t going to extend it themselves.They could have made it permanent in their last budget but chose not to.They extended it for a year just to get them through the election last year,which they lost anyway.

[stui magpie]

Trying to speculate what the Liberals intended to do is as accurate as reading tea leaves.

The point is, Labor made a decision not to extend the tax offset. That's their decision, nothing to do with the Liberals, and whether it's the right or wrong thing to do, they have to own that decision.

[Pies4shaw]

It's all a bit trivial in the scheme ofthings, isn't it?

[stui magpie]

^

Yes, it is.

[Woods Of Ypres]

I'm so tired of this government bending normal Australians over

I can now expect a tax bill this year despite paying $22K in PAYG tax already due my circumstances below:

- ~$90K salary full-time
- No family/ dependents
- No deductions to claim (office job, no investment property)
- Medicare Levy Surcharge

I refuse private health, I have no use for it (i am relatively fit/healthy)

my brother (tradie) earns about 150K, has 5 x houses and gets fat tax returns due to deductions / expenses.

interest rate rises mean nothing to landlords either, lack of housing means they just jack up the rents to counter. can't lose.

system is busted / dated. i feel for the younger gen, they have been f**cked by this government.

[What'sinaname]

I'm so tired of this government bending normal Australians over

I can now expect a tax bill this year despite paying $22K in PAYG tax already due my circumstances below:

- ~$90K salary full-time
- No family/ dependents
- No deductions to claim (office job, no investment property)
- Medicare Levy Surcharge

I refuse private health, I have no use for it (i am relatively fit/healthy)

my brother (tradie) earns about 150K, has 5 x houses and gets fat tax returns due to deductions / expenses.

interest rate rises mean nothing to landlords either, lack of housing means they just jack up the rents to counter. can't lose.

system is busted / dated. i feel for the younger gen, they have been f**cked by this government.

Get comfy paying more. There's at least 3 more years of it.

Just wait until the Stage 3 tax cuts are repealed.

[watt price tully]

This tax offset was only meant to be a temporary measure until the stage three tax cuts came along.The Morrison government only legislated it until the 2021 2022 financial year,so it was always going to end this year anyway,no matter who was in power.

This story from the Australia Institute explains the situation in detail.

https://australiainstitute.org.au/post/ ... -increase/

So if you want to blame anyone for the end of the tax offset,then blame Morrison and Frydenberg.They designed the system,after all.

Now you’re being logical and rational as well as using clear thinking. Whatsinaname is still hoping Scotty Morrison can make a comeback.

[watt price tully]

I'm so tired of this government bending normal Australians over

I can now expect a tax bill this year despite paying $22K in PAYG tax already due my circumstances below:

- ~$90K salary full-time
- No family/ dependents
- No deductions to claim (office job, no investment property)
- Medicare Levy Surcharge

I refuse private health, I have no use for it (i am relatively fit/healthy)

my brother (tradie) earns about 150K, has 5 x houses and gets fat tax returns due to deductions / expenses.

interest rate rises mean nothing to landlords either, lack of housing means they just jack up the rents to counter. can't lose.

system is busted / dated. i feel for the younger gen, they have been f**cked by this government.

Well they have to clean up 10 years of the Liberals giving Australia the worst budget deficit in its history. You can thank Scotty from Marketing and Josh from accounts for stuffing the economy, spending like drunken sailors and the ALP for cleaning it up.

[doriswilgus]

This tax offset was only meant to be a temporary measure until the stage three tax cuts came along.The Morrison government only legislated it until the 2021 2022 financial year,so it was always going to end this year anyway,no matter who was in power.

This story from the Australia Institute explains the situation in detail.

https://australiainstitute.org.au/post/ ... -increase/

So if you want to blame anyone for the end of the tax offset,then blame Morrison and Frydenberg.They designed the system,after all.

Now you’re being logical and rational as well as using clear thinking. Whatsinaname is still hoping Scotty Morrison can make a comeback.

Thanks WPT.I think facts do matter,especially when people clearly get them wrong.There’s no harm in pointing that out to people,even if they don’t like to hear it.

[What'sinaname]

Well they have to clean up 10 years of the Liberals giving Australia the worst budget deficit in its history. You can thank Scotty from Marketing and Josh from accounts for stuffing the economy, spending like drunken sailors and the ALP for cleaning it up.

gee, if you think the Australian budget deficit is tantamount to stuffing up the economy, then I hate to think what you think of Victoria's record budget deficit?

[David]

[Pies4shaw]

^ You "love tax" or love other people being taxed?