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Maintain the current dividend imputation system

Discussion in 'Business, Investment and Economics' started by willy1111, Oct 5, 2018.

  1. Humid

    Humid

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    Because it’s income when you get it
    Let’s put you theory to test
    Penalty rates
    Funny how loud you scream when something effects you
    These refunds are contrived
     
  2. sptrawler

    sptrawler

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    The same could be said for penalty rates.
     
  3. HelloU

    HelloU

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    humid said "Because it’s income when you get it"

    but the whole point of the labor policy is that people WILL NOT get it ........ does franking credit $$ still count as income when you DO NOT get it?
     
  4. sptrawler

    sptrawler

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    That is the whole problem, those on welfare get it, those in Industry Funds get it, the rich get it, the only ones who don't get it are those who bought shares to get income when they aren't working.
    This is why 'normal' Australians struggle to get ahead, it is the "I'm all right Jack stuff you" mentality.
    What epitomises it, is Humid's constant referral to penalty rates, it obviously effects him so his annoyance is understandable.
    But if you apply the same logics to weekend penalty rates, as is being applied to the franking credits, it is just the same.
    Why should someone who works on a Saturday and Sunday, get the same amount of money, as someone who does a lot more hours Mon to Fri doing the same job?
    It could be argued the person who works Sat/Sun, is doing so because their partner works Mon-Fri. Whereas a single mum with children can only work Mon-Fri, because they don't have a partner to look after the kids on the weekend.
    So in reality it is a perk for the wealthy two income family.
    Wouldn't it be much fairer, to have an Industry annualised salary, where the weekend penalty rates are factored in to the hourly pay rate, and all the employees get it?
    The same with the franking credits, those on welfare get the credits, those who don't qualify for welfare lose it.
    Wouldn't it be "fairer" to say, well those couples on welfare get a tax payer pension of $35,500+ perks+franking credits, which would add up to $50,000 equivalent.
    So those who are on a self funded pension, get the franking credits up to $50k and those on $50k- $100K pay 15% on the franking credits, those above $100k pay 30% on the franking credits. Or some other formula, but the ridiculous situation labor are proposing, is ludicrous. Every working person will aim for a part pension, it is a no brainer.
    But who said anything is about fairness, if it was about fairness, the politicians would pull their noses out of the trough.:roflmao:
    The only up side I can see with all Labors proposals, is they will only get one term. IMO
     
    Last edited: Feb 12, 2019 at 2:13 PM
    willy1111 likes this.
  5. Smurf1976

    Smurf1976

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    It certainly does seem to be one hell of a kick to those in the middle who have chosen to not be on welfare by means of self-funding their own protection against unemployment etc and their eventual retirement.

    The trouble is we have devolved into a very divided society with various groups picked off one at a time to avoid any serious resistance. That's the oldest trick in the book, somewhat perversely given this is a Labor proposal it's the tactic the unions fear most, and the outcome is always bad for the workers.

    The grey hair brigade ought to have stood firmly behind the hospitality workers and others affected by the penalty rates issue. Likewise the overwhelmingly young people working in hospitality would, if they saw the bigger picture, be standing firmly behind the mostly older people concerned about imputation credits. United we stand, divided we fall. Touch one touch all.

    Not too long ago there was far less division in Australian society than we have today. The CEO of the company you worked for was paid ~ 3 times what you were paid, bank managers were held in high regard and nobody looked down on anyone doing legitimate work (roadworks crews etc cop heaps of abuse these days for those not aware).

    The way we're going is not good. :2twocents
     
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  6. PZ99

    PZ99 ( ͡° ͜ʖ ͡°)

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    To be fair, they probably did and still do. Most people don't agree with penalty rate cuts because it affects a hell of a lot of low paid workers. The only people who agree with cutting them are people who don't get them or don't need them.

    However it's good to see the empathy for vulnerable people affected by the loss of franking credits. If the same empathy could be demonstrated for weekend workers that would be even better. It might even convince the ScoMo Govt to reinstate the penalty rates. I'd vote for them if they did.

    As it stands now weekend workers will lose money if the Libs win.
    And self funded retirees will lose money if Labor win.

    I'm not affected by either but I still take the view the franking credits will remain because most of the parliament will support them after the election. Penalty rates however are still being cut.
     
  7. Humid

    Humid

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    People on here bleating about Labor’s policy driving more onto the pension if we keep going withe the current mobs casualization and flat rates of pay along with automation the future is grim
     
    Smurf1976 likes this.
  8. Humid

    Humid

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    Why can’t foreign investors get a cash refund do you think?
     
  9. Smurf1976

    Smurf1976

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    No disagreement from me there.

    That I see unfair aspects in one of Labor’s key policies shouldn’t be taken as meaning I agree with the Coalition’s various ideas.

    That both major parties are attacking at least one group in society is a huge part of the problem.
     
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  10. sptrawler

    sptrawler

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    The ridiculous outcome is, you will be able to earn more on welfare, than you can ever generate by saving while working, which is ok by me.
    But you want to talk about unsustainable?
     
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  11. HelloU

    HelloU

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    so are peeps uncertain if franking credit $$ should count as income when you DO NOT get it?


    speaking of foreigners, (which i wasn't)
    sounds like commy russia

    "OK everyone, line up to get your pay envelope. Each envelope has your weekly 10 rubles pay in it"

    Worker takes envelope from government official, and worker says "something is wrong, this envelope is empty"

    Government peep says "Once you have taken the envelope then the government is no longer responsible for it. Back to work now, and come back next week to get your next pay".

    best country in the world cos at years end each worker got paid 520 rubles .....or did they?
     
  12. sptrawler

    sptrawler

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    Just did a back of the napkin, if you have assets less than $850k not including your own home, and earn less than $79k you get part pension.
    Well it is a no brainer really.
    30,000 NAB + franking credit = bingo. lol
     
  13. Humid

    Humid

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    Yeah foreigners......they don’t pay income tax either
     
  14. Humid

    Humid

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    Napkin
    At least you can afford to eat out.......paper or linen?
     
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  15. Kremmen

    Kremmen

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    And this is exactly the same whether you get it as cash or as a credit against other tax!
     
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  16. HelloU

    HelloU

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    correct,
    that is the thing that the peeps who support the labor idea cannot explain with finance logic ..........
    how come the government wants more than 30c tax if they are not prepared to refund some of that 30c............

    i mean the 30c either falls under the company tax system, or it falls under the individual tax system.
     
  17. willy1111

    willy1111

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    Is the franking credit included as income though?

    30,000 NAB Shares - NAB last year paid $1.98 per share fully franked, therefore 30,000 * 1.98 = $59,400, this represents 70% and is paid into your bank account - the franking credit is $25,457 (59,400 / 7 *3) thus total taxable income is $84,857 = over the $79K income and no pension = lose the franking credit refund.

    About 27,500 NAB shares should get it under the $79K - but then what if NAB increases their Dividend?

    One would have to carefully monitor it, selling down shares and going on overseas trips to stay under ;)
     
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  18. rogue1

    rogue1

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    Decrease is more likely, I hear...
     
  19. kahuna1

    kahuna1

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    NAB dividend likely to go to $1.88 if not 1.85 then possibly $1.70 in a year or two.
    Hence the discount of yield on paper at least v share price.
     
  20. sptrawler

    sptrawler

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    The Banks, will go down and will go up, the population won't get smaller. IMO
     
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