Jason

Paramedic/clinical manager. Research student, Jesus follower. Husband. Dad. Frequent flyer points junkie. Probably tweeting to customer service somewhere.

[Jason @jasonbelcher]

@TMFScottP @Prowerock1 A decade later with e-tax being the norm, it would have been simple. A few more years and myTax that remembers everything year to year, it’s a doddle.
2026 we’d all probably go “hey ChatGPT/Claude/Gemini/Grok figure this out for me”.
Bring back indexation. (2/2)

[Jason @jasonbelcher]

@TMFScottP @Prowerock1 Yep, I wasn’t a voter at that point and far less interested in anything investing - but I remember my parents sitting at the dining table with a paper based“tax pack” they got from the newsagent. Indexation would have been a nightmare. (1/n)

[Jason @jasonbelcher]

@TMFScottP Yep.
Making sure they stay open is in the national interest.
But did we learn nothing from other times we did this? If we’re throwing money at it why aren’t we getting equity in it?

[Jason @jasonbelcher]

@Aidan_Baron I like your thinking.
But won’t we have next-gen ECMO by then that any paramedic can use? Possibly easier than TOE! High performance CPR (which is better than mechanical anyway) just becomes a bridge to someone getting the pump on at that point.

[Jason @jasonbelcher]

@TMFScottP @LambDownUnder @spenderallegra I guess it depends where you draw the threshold line. The effective rate changes with every dollar. If it’s somewhere around 60k the person on 50k is getting a negative rate.

If it’s closer to the current 18k it’s probably unfair.

[Jason @jasonbelcher]

@LambDownUnder @TMFScottP @spenderallegra As to what the numbers for the flat rate and tax free threshold should be, no idea.
But… pressure test the concept for me?
(4/4)

[Jason @jasonbelcher]

@LambDownUnder @TMFScottP @spenderallegra Suddenly you remove all incentives for income splitting shenanigans or hiding things in shell companies, and effectively have a UBI of sorts as a negative income tax which means you can probably get greater efficiency doing away with a bunch of other tax incentives.
(3/n)

[Jason @jasonbelcher]

@mikjcal @TMFScottP I dispute that, I invest in ETFs because I’m lazy :)

[Jason @jasonbelcher]

@jason_king72 @TMFScottP Not across the intricacies of the legislation. I’m an interested layperson :)
I just know that if you have a loss from a business activity you can’t (usually) immediately deduct against other income. I don’t know why you’d treat an investment differently. Carry the loss forward

[Jason @jasonbelcher]

@jason_king72 @TMFScottP Why is an investment any different to a business?

[Jason @jasonbelcher]

@TMFScottP My (possibly hasty) read was they want to stop tax deductibility completely. NG itself is dumb, carry forward makes sense to me.

[Jason @jasonbelcher]

@TMFScottP …
So an investment property? “Bank” your losses against future income when it’s positively geared. Or you sell. Stop the perverse incentives by conflating with other income.

[Jason @jasonbelcher]

@TMFScottP …
But set it any investment like a business. If i have a side business that makes a loss, I can’t offset that loss against my employment income. But I can offset it against future profits.
…

[Jason @jasonbelcher]

@TMFScottP @Nbtoma Maybe in the 90s/early 2000s when they scrapped indexation it was hard.
2026 with a computer doing everything? It’s a doddle.

[Jason @jasonbelcher]

@VirginAustralia what is up with your complimentary flight booking portal for your @AmexAU card? Four browsers across two different devices, "too many redirect" messages at various points in the process, and then this curious error. How can I book a flight if your site is broken?

[Jason @jasonbelcher]

@woolworths The app isn’t the problem, I could get the bar code just fine. Kept getting a “no response” from the eftpos terminal at the checkout and service desk where they also tried it.

[Jason @jasonbelcher]

@woolworths gift card system down? Bit annoying to buy e-gift cards for shopping then have them not work in store so I have to pay again.