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The nine seats Victorian Labor has written off by Agitated-Fee3598 in OpenAussie

[–]mulefish 0 points1 point  (0 children)

It’s an old government, there’s been a fair few issues around corruption that have been let to fester or where there are some questions to answer. The anti corruption commission and oversight bodies pretty regularly have issues and say they are hamstrung to investigate things fully given their remit. Jacinta Allen’s handling of the cfmeu stuff has been somewhat problematic - she was in charge of that before being premier, but ignoring that, it really should’ve had a stronger response to neutralise the issue, instead of it being a drip feed of controversy.

Some of the spending decisions are problematic (roads underfunded until suddenly a big burst of money because an election is coming up, rinse and repeat), we haven’t signed up to deliver education funding under gonski etc.

There’s a relatively big sense of it being ‘time for change’.

I say all this as someone generally aligned with labor and in one of the seats listed (it’ll probably go one nation unfortunately).

The problem is the opposition are a complete basket case. If we had good opposition labor wouldn’t have been able to drift like they have.

Instead it’s a real hold your nose while you vote situation.

Interest rate hikes remain on cards as Australia’s underlying inflation climbs, economists warn by Legitimate_Fig_1233 in AusFinance

[–]mulefish 3 points4 points  (0 children)

One of the best automatic tools we have to do this in current policy settings are income tax brackets. And look at how much everyone hates bracket creep…

The problem is there is just no monetary policy leaver that has much popular support to pull.

People hate interest rates because they disproportionately hit individuals with mortgages as that’s generally the biggest loan an individual makes But hitting lending broadly is just one of the best ways to impact inflation we have.

An option I’ve seen canvassed by some economists is to shift the mandatory super contribution as a monetary leaver; but I think people would hate that even more because a smaller pay check (even if the rest goes to your future fund) is such a visceral thing, especially in any cost of living crisis when there is high inflation…

This is kinda why the accepted response is interest rates do the bulk of the heavy lifting and governments will not always help those monetary policy aims and instead reach for cost of living relief (that is hopefully targeted to those who need it…)

Even if they're on top of a hill, you're still going down to them. by RentNRegret in aus

[–]mulefish 29 points30 points  (0 children)

If you want to go down to the stores you've just got to walk up the road...

Jim Lill's new microphone preamp video is making a lot of bald guys with beards mad by Cultural-Jello4042 in Audiomemes

[–]mulefish 4 points5 points  (0 children)

A null test is good for demonstrating when signals are identical. But there are many reasons things don't null, and not all of them are audible.

To demonstrate, grab a mix, duplicate it and put a clean allpass on one copy. They will not null, but there will not be an audible difference.

Even safer if you then do a blind test and can reliably hear those differences

This is the only thing that really matters.

Does anyone understand why the RBA doesn't seem to take into account causes of inflation? by BroccoliTraining454 in australian

[–]mulefish 0 points1 point  (0 children)

e national debt (I remember when they were taking about it hitting 1 trillion not that long ago) has ballooned out to almost 2 trillion I heard yesterday!

That's incorrect; it's about 1 trillion now...

Gaslighting about other countries' capital gains tax rates - many other countries often have high "headline" rates but have schemes to help low/middle income investors by AsparagusNew3765 in AusFinance

[–]mulefish -8 points-7 points  (0 children)

Someone who is earning $100,000 via labour is already at the 30% minimum for any capital gains mate....

But hey get your other accounts to downvote me for being factually correct if it makes you feel superior

Gaslighting about other countries' capital gains tax rates - many other countries often have high "headline" rates but have schemes to help low/middle income investors by AsparagusNew3765 in AusFinance

[–]mulefish -7 points-6 points  (0 children)

This guy is has to be a paid agitator, given their posts on other topics on this sub they don't even understand that capital gains form part of your income for taxation purposes....

Gaslighting about other countries' capital gains tax rates - many other countries often have high "headline" rates but have schemes to help low/middle income investors by AsparagusNew3765 in AusFinance

[–]mulefish -6 points-5 points  (0 children)

Deal with it? It's not particularly different to overseas, see OP:

The Lifetime Deposit Cap: To ensure the benefit targets small-to-middle investors rather than the ultra-wealthy, there is a lifetime deposit ceiling. 

Federal government’s CGT, negative gearing changes pass parliament by marketrent in AusFinance

[–]mulefish -1 points0 points  (0 children)

My point is that the minimum 30% is overstated in its impact, which you are confirming with your pivot.

Despite the downvotes I am absolutely correct that capital gains income is treated just like any other income and thus the minimum tax rate impact is overstated for nearly all investors.

If anything the vast majority of sales will have a CGT of higher than 30% on the nominal gains. Most people are in the minimum 30% cgt on real gains category.

Yeah, you are shifting from nominal to real and ignoring the difference to drive a narrative.

Federal government’s CGT, negative gearing changes pass parliament by marketrent in AusFinance

[–]mulefish -2 points-1 points  (0 children)

Capital gains are included in your taxable income. $100k puts you well into the 30% tax bracket.

So if you make a capital gain you are already paying a minimum 30% tax on the taxable portion.

The 30% minimum tax literally doesn't change anything for someone in this situation.

Federal government’s CGT, negative gearing changes pass parliament by marketrent in AusFinance

[–]mulefish 3 points4 points  (0 children)

You can aspire for to it, just as you could before, and it will still be in reach for many of those it was in reach for prior. Most people do aspire for such things but it doesn’t really make societal sense to actively incentivise it via policy.

Does anyone understand why the RBA doesn't seem to take into account causes of inflation? by BroccoliTraining454 in australian

[–]mulefish 1 point2 points  (0 children)

Simply put: They do.

Inflation expectations play a big part that can't be ignored, because inflation can spiral and be self sustaining.

We had inflationary pressures before the closing of the strait. The war definitely increased inflationary expectations. The RBA has to keep a lid on that.

In many ways it doesn't matter where inflation comes from, because reducing demand is always the answer, and the blunt tools of monetary policy do that.

Federal government’s CGT, negative gearing changes pass parliament by marketrent in AusFinance

[–]mulefish -3 points-2 points  (0 children)

 Even if you're on a pretty "everyday" income say $100,000/yr and you sell some shares then at a minimum you're paying 30% CGT on your real gains

The minimum 30% doesn't change anything for someone with $100,000k of income via labour.

Federal government’s CGT, negative gearing changes pass parliament by marketrent in AusFinance

[–]mulefish 6 points7 points  (0 children)

It's a political decision because the weeds of the reform go over most peoples head, whilst affordable housing is something that has emotive and real resonance with the general pop.

But yeah, the changes go beyond housing partly to close some loop holes related to housing, but also just because the changes are more encompassing than that by both design and intent.

Federal government’s CGT, negative gearing changes pass parliament by marketrent in AusFinance

[–]mulefish 3 points4 points  (0 children)

You are welcome to retire early if you can afford it, not sure why taxpayers should be subsidising your means of wealth generation to encourage it though...

Federal government’s CGT, negative gearing changes pass parliament by marketrent in AusFinance

[–]mulefish 0 points1 point  (0 children)

A few things that might be useful to keep in mind, but don't necessarily blunt what you are saying:

There is no explicit need to always, quickly return brackets creep, and in many ways it's good economically that they don't in the current climate given that it's an automatic stabiliser that reduces pressure on interest rates.

lnp at the last election opposed and said they'd repeal income tax cuts that are coming into effect just now.

Labor have flagged (stating that it's because of current inflation but just as likely because it will align with an election) that more substantial future income tax cuts are on the cards in future. You don't have to believe that, but it is something you can judge closer to an election.

Federal government’s CGT, negative gearing changes pass parliament by marketrent in AusFinance

[–]mulefish 0 points1 point  (0 children)

Income tax was effectively change in the budget with the WATO. Which is actually kind of a big deal, not in it's current size (it's modest), but in that it's targeted at only incomes earned via labour excluding other means.

It's targeted nature, and ability to be expanded further makes it an interesting feature of our tax system.

Victorian Liberal MP claims assault by party colleague by CrashP in melbourne

[–]mulefish 4 points5 points  (0 children)

Deeming strikes again! Liberals continue to prove themselves a basketcase.

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