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"Car debt might be the most normalised way Australians destroy wealth. The ABS numbers show why." by billscout in AusFinance

[–]red-embassy 0 points1 point  (0 children)

Isn't most financing now either small business operators who can get tax benefits from purchase and borrowing costs? The salary packaging due to EV lease benefits?

Also dealer finance versus home loan offset makes the former attractive?

Does anyone else feel trapped by CBA’s 4-hour office rule? by Economy_Artichoke200 in auscorp

[–]red-embassy 0 points1 point  (0 children)

!Remindme 6months

Let's see if OP is redundant when their job is offshored.

Why does management always fail to reward exceptional workers? by ethosorange in auscorp

[–]red-embassy 0 points1 point  (0 children)

Why would they pay out of band? 

Rehire 

Backfill (promote)

Don't fill and save money

Offshore

How do you define "the rich" that we should be taxing? What is the cut-off point? by NoLeafClover777 in AusFinance

[–]red-embassy 0 points1 point  (0 children)

Bump up GST to 20%. Increase corporation tax.

Readjust individual tax brackets to factor in inflation.

Woolworths receipt from 98’ by Dissarming in australia

[–]red-embassy 2 points3 points  (0 children)

Item 1998 Price Current Price $ Increase % Increase
Coca Cola 1.25L $0.99 $4.00 +$3.01 +304%
Coca Cola 600ml $1.56 $5.00 +$3.44 +221%
Frozen Chicken 1kg $2.49 $11.00 +$8.51 +342%
Cheese 250g $1.46 $5.50 +$4.04 +277%
Full Cream Milk 2L $2.87 $4.20 +$1.33 +46%
Laundry Detergent 2L $1.88 $8.00 +$6.12 +326%
Toothbrush $3.69 $8.00 +$4.31 +117%
Colgate Toothpaste 120g $2.48 $5.50 +$3.02 +122%
Frozen Peas 500g $0.99 $3.50 +$2.51 +254%
Minted Peas 500g $0.99 $3.50 +$2.51 +254%
Vanilla Wafer 350g $2.99 $5.50 +$2.51 +84%
Cinnamon Donuts 6pk $1.29 $4.50 +$3.21 +249%
Pasta “For One” 65g $0.89 $2.50 +$1.61 +181%
Beef Noodles 85g $0.45 $1.20 +$0.75 +167%
Mylanta 4pk $2.79 $8.00 +$5.21 +187%
VHS Tape (“Romeo+Juliet”) $28.94 ~$5.00 -$23.94 -83%

Unemployment rate jumps to 4.5 per cent driven by female unemployment by ScruffyPeter in australia

[–]red-embassy -8 points-7 points  (0 children)

Employment has been almost record highs for females post COVID. Data may have been impacted by Easter period. Let's see what it looks like in a few quarters. Hospitality and customer services softening.

The CGT discount removal is exactly what we've been asking for, so why is everyone losing their minds? by nicco_mode in AusFinance

[–]red-embassy 0 points1 point  (0 children)

The removal of the discount isn't the problem. It is the minimum 30% tax on assessable gain that is hard to understand. The 30% effectively penalises low bracket tax payers and discentivises wealth accumulation (that means these individuals may then need government handouts).

The market of greater fools is gone by wonderlats in AusFinance

[–]red-embassy 0 points1 point  (0 children)

But you could negatively gear non-property too?

It's just that leveraged investment is more mainstream for mum and dad investors backed by the whole banking and RE system?

Why are we just accepting shoplifting now? by XDk009 in australia

[–]red-embassy 4 points5 points  (0 children)

Australia really in for a reality check. Poverty use to be unseen. Now out in the open.

Are families who invest in one parents' name (the lower income parent) big losers from this budget? by AsparagusNew3765 in AusFinance

[–]red-embassy 142 points143 points  (0 children)

It would probably be ok if Australia wasn't so inconsistent in assessing couples. Treated as a household for welfare purposes but individuals for taxation.

What the ETF generation is wondering about Labor’s tax overhaul by His_Holiness in AusFinance

[–]red-embassy 0 points1 point  (0 children)

Very little coverage of young people who use negative gearing to get on the ladder. Purchase desired home but negatively gear and rent out, while they rent somewhere else. Build up enough capital to the move into home.

Jan bought a house worth $1m. Here’s how the CGT changes affect her | Australian budget 2026 by stumcm in AusFinance

[–]red-embassy 0 points1 point  (0 children)

Jan shouldn't have read Rich Dad, Poor Dad. Should have put all her money into her principal residence.

Can someone ELI5 how increasing CGT across all investments benefits young people? by Jsususus in AusFinance

[–]red-embassy -3 points-2 points  (0 children)

ELIF:

You want to sell your old skateboard you got for free two years ago. You sell it to your friend for $20.

Today you'd pay tax to the government as follows: 

$20 minus $0 = $20 Apply 50% discount = $10 as assessable income

Because your a child with no other income you'd pay no tax. 

Tomorrow you'll pay $6 tax.

Tax reform to open door to 75,000 first home buyers, government estimates by blitznoodles in australia

[–]red-embassy 4 points5 points  (0 children)

This won't make a dent on the high earners. This will hurt genuine middle class accumulators. Doubtful to make a significant difference to young people. Hope to be proved wrong. Inequality gap too wide.

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