@MisinfoFact Let's get this straight: this fuckknuckle had no issues when Victoria was a net contributor for two decades (since the introduction of the GST). The moment we became a net recipient, he had a conniption.
@Chriskenny_sky If you own a modest home in Victoria, you can effectively end up paying less in rates than modest homeowners in NSW, because the burden isn’t shifted as heavily away from luxury properties. This rank idiot completely misses that important point.
@Chriskenny_sky Unlike NSW, Victorian councils don’t heavily subsidise luxury homeowners by basing rates primarily on unimproved land value. In Victoria, owners of modest homes aren’t effectively helping cover the lower relative rates paid by people living in multi-million-dollar mansions.
@StuddertNatalie In NSW, council rates and land tax are mostly based on land value, not the mansion built on it- meaning a $5 million home can pay similar rates to a modest house on the same-sized block. It’s an incredibly inequitable system that favours entrenched wealth and luxury proprty ownrs
@fulovitboss 2020-2021 saw a record 365,480 new business entries. This spike was largely driven by a boom in side hustles and individuals transitioning to freelance work, sole trading during lockdowns. As people transitioned back to traditional work their inactive ABNs were cancelled.
@missBearvBull@AngusTaylorMP Do as your name suggests, savings from cost base indexation will over run 50% CGT discount in 10 or so yrs. And if your shares underperformed and hovered at or below inflation for a decade, the new tax regime would result in zero tax, while the old regime would still tax you.
@__Duncs@Flumark@Sauronlordking Except GFC was a decade later.. no doubt $10B in stimulus added to the problem but small fries compared to the size of the economy and what went on in the US. Covid was a different story, $281B in gov securities flooded the Aus market.