Next Federal Election

Precisely @salty-dog, Howard also allowed SMSFs to borrow money for the first time to buy assets (housing, shares, cars, artworks etc ) provided the assets weren’t enjoyed for personal use. This saw an explosion in demand/prices for such assets.

@optimist has regularly posted here about these super charges and in the past his concerns about house prices, can’t say I have ever seen him criticise the root cause of the shitshow Howard left us in.

…. and another slight of hand ^^ @salty-dog is if your SMSF is part of your business and that business is controlled by a discretionary family trust (DFTs) well the world is your oyster isn’t it, not only don’t you pay any tax you can also qualify for the full age pension and all the benefits that flow to the most needy in our society. Get all that arranged early enough in your life and you seriously get your cake and you eat it too. Now please correct me if I’m wrong, my memory is not good on this precise point) but wasn’t it Howard that removed all barriers to DFTs?

GuySmiley wrote:

…. and another slight of hand ^^ @salty-dog is if your SMSF is part of your business and that business is controlled by a discretionary family trust (DFTs) well the world is your oyster isn’t it, not only don’t you pay any tax you can also qualify for the full age pension and all the benefits that flow to the most needy in our society. Get all that arranged early enough in your life and you seriously get your cake and you eat it too. Now please correct me if I’m wrong, my memory is not good on this precise point) but wasn’t it Howard that removed all barriers to DFTs?

DFT's were never on my radar but according to the interweb, Howard was mixed up in all of that. No surprise there.

The interweb also tells me that taxation of DFT's was a part of Shorten's Tax Reform taken to the 2019 election.

Maybe that will resurface in due course.

Again, no matter where you look, the problems we see today all had their genesis with Howard and Costello.

Cheers adam12...like yer thinking > being honest...tbb kinda quietly reached same conclusion.
Guess it must mean something...if others feel as strong or the same about it...does hold traction.

Happy to hoist Minister for Everything = #1 Vatican Gold Pass ( Until we find another smoking gun! )
Again...that's a quality credible call & it does check out...(Twice in fact) By both parties...read on
https://www.afr.com/politics/federal/asset-energy-learned-in-may-morriso...

Also why Albo Lounged in WA then Dumped Tania for Watt...
Exact same caretaker deals for Both Parties
Makes sense that Corps Bully PM's to cut the red tape during Caretaker Period...that old hack...
Switcheroo Energy deals + Ramp Uni migration during Caretaker mode!
Oh gee! What happened there...Oh! That No Rules back flip was a Stroke of Luck ...Hey!

Murray has got until end of the month to Stamp Gas or else lose his balls...
Albo wants it wiped from the Whiteboard...Time to Go! Yes or No!
https://www.news.com.au/technology/environment/murray-watt-pledges-decis...

(Today) Sky reckon Murray has already Stamped it...
Noting during Caretaker Mode (No red tape) ( All while Albo is outta the country)
Gotta think they were buying time for Zero Box Tick Contract with Sugar Icing....Free Range Culling.

So..Hell Yes! adam12...bigger than than the both of us...looks like Double Trouble Holy See Seal Deal
Albo returns with his hands clean > I never stamped that shit > I'm a Christian kissing the Pope's ring!
https://www.skynews.com.au/australia-news/politics/leave-it-to-the-comme...

Asking the same in reverse...(Here's adam12's Double check...check it out!)
Q: Is this an ALP caretaker Enviro' Minister or PM Scott Morrison
Like why are Sky puppeteering their brand new Shiny Woke Watt Doll.

As always ever > Us Qldurrz have gotta apologize > Now for Pitt (Loves) Watt with a Double [ tt ]

Love adam 12's Numerology scam... Double Back Flip Caretakers > crew are screwed.

Breaking news: Nationals to split from Coalition.

Wow.

RIP Coalition...

thermalben wrote:

Breaking news: Nationals to split from Coalition.

Wow.

Yep crazy.
Where will this leave the 'right?'

thermalben wrote:

Breaking news: Nationals to split from Coalition.

Wow.

The Nats have always been in a time warp 20 to 40 years behind reality, if Ley stares them down they will eventually have to moderate if they want power.

So... what's the process for Labor to be knocked out of power?

I don't quite understand how it works, and if that can happen now (unless a new Coalition is formed that gets the numbers).

Surely the Libs, Nats and Greens will never achieve the required seats in their own right?

Yes the Noalition have secured their time in opposition possibly forever.

Alan Kohler sums it up perfectly where it has all gone wrong (too right).

https://www.abc.net.au/news/2025-05-19/liberals-nationals-net-zero-clima...

Holy shit.
Historic day.

thermalben wrote:

So... what's the process for Labor to be knocked out of power?

I don't quite understand how it works, and if that can happen now (unless a new Coalition is formed that gets the numbers).

Surely the Libs, Nats and Greens will never achieve the required seats in their own right?

I read it as a attempt by the Nationals to keep the Liberals hard right by playing brinkmanship, I think they have gone to early in the cycle to really worry the Liberals at some point no matter what the Nationals want they will return.

Recon Labor would see this as a concern.

thermalben wrote:

So... what's the process for Labor to be knocked out of power?

I don't quite understand how it works, and if that can happen now (unless a new Coalition is formed that gets the numbers).

Surely the Libs, Nats and Greens will never achieve the required seats in their own right?

last minute coalitions forming post election, every election...

much like many countries in europe and even Indonesia

yeh it's kinda historic, but not that significant really, nationals are still gonna back / vote with liberals pretty much 99% of the time

hopefully same happens with labor...

death of two party system

yippee!

"I read it as a attempt by the Nationals to keep the Liberals hard right by playing brinkmanship, I think they have gone to early in the cycle to really worry the Liberals at some point no matter what the Nationals want they will return.

Recon Labor would see this as a concern."

dunno about 'hard right'

seems to be 90%+ about nuclear and/ or net zero

many on the left want to see nuclear too

and net zero seems almost dead...

and I'd put money on them all groveling back to a coalition anyway...

pre-election

The 'Liberals' have lost the liberal vote in urban areas and cannot see them coming back without big changes which would be unacceptable for the agrarian socialist/ mining party aka Nationals.
Really, they only were a coalition to keep the ALP out, very different parties really.

Good article posted by Westofthelake.

socialism is well within reach now for the ALP

the long march of the left through the institutions has arrived at its destination

thermalben wrote:

Breaking news: Nationals to split from Coalition.

Wow.

They're just protecting their socialist agenda

From Littleproud "He says nuclear, regional infrastructure funding and supermarket divestiture powers were sticking points."

Sorry what happened? Nationals are going alone? Interesting, who is the leader of the opposition then? It would be Nationals I guess based on numbers? They probably sensed a growth moment. They will probably unite the right with some populist agro socialist programs. It won't be enough to win but it will be enough to send the Liberals into the oblivion. Fun times...

Swanning happily towards irrelevance. Let's see how they go on their own.

A Salty Dog wrote:

Optimist wrote:

Albo sworn in yesterday…..
30% tax on people with good super accounts today…
Didn’t take him long…lol…..go jimmy..!!!
…won’t bother me but a couple of my mates won’t be happy after working their arses off and saving it into super…
Inheritance tax next..???? …Hope not ….we will see.

The 30% tax applies to investment earnings on the portion of Super in excess of $3 million.

For example, assume you were a little Aussie battler with $4 million in your Super Fund in Accumulation mode, and your investment return for the financial year was $400k, or 10%.

Earnings on the first $3 million is taxed at 15%: $3m x 10% x 15% = $45k.

Earnings on the balance of $1 million is taxed at 30%: $1m x 10% x 30% = $30k.

Total tax is $75k on $400k earnings, an overall rate of 18.75%

A taxpayer on a Salary of $400k would pay approx. $150k in tax or 37.5%

Please note when your Super goes into Pension mode no tax is payable.

Life must be tough.

Coming up next is tax on unrealised Capital Gains in SMSF's. About time.

I will agree on this under 2 conditions:

1) Annual indexation

2) Immediate reduction of income tax

Everything else is a government money grab. Which they are so good at in this country.

thermalben wrote:

Breaking news: Nationals to split from Coalition.

Wow.

Best news I've had for a while!!!!

flollo wrote:

A Salty Dog wrote:

Optimist wrote:

Albo sworn in yesterday…..
30% tax on people with good super accounts today…
Didn’t take him long…lol…..go jimmy..!!!
…won’t bother me but a couple of my mates won’t be happy after working their arses off and saving it into super…
Inheritance tax next..???? …Hope not ….we will see.

The 30% tax applies to investment earnings on the portion of Super in excess of $3 million.

For example, assume you were a little Aussie battler with $4 million in your Super Fund in Accumulation mode, and your investment return for the financial year was $400k, or 10%.

Earnings on the first $3 million is taxed at 15%: $3m x 10% x 15% = $45k.

Earnings on the balance of $1 million is taxed at 30%: $1m x 10% x 30% = $30k.

Total tax is $75k on $400k earnings, an overall rate of 18.75%

A taxpayer on a Salary of $400k would pay approx. $150k in tax or 37.5%

Please note when your Super goes into Pension mode no tax is payable.

Life must be tough.

Coming up next is tax on unrealised Capital Gains in SMSF's. About time.

I will agree on this under 2 conditions:

1) Annual indexation

2) Immediate reduction of income tax

Everything else is a government money grab. Which they are so good at in this country.

The whole taxation system needs an overhaul.

Chalmers is the one to do it.

And don't be so cynical, taxes provide many of the services we use today.

I wonder who’s going to be the deputy opposition leader now?

seeds wrote:

I wonder who’s going to be the deputy opposition leader now?

Good question.

R.I.P. Liability National Party

What's the breakdown of Nat versus Lib seats in House of Reps?
Who is the main opposition party now?

I think the Libs are still ahead there.
2 week old article. Might explain their leaving the coalition as they didn’t get their way.
https://www.abc.net.au/news/2025-05-05/nationals-push-more-shadow-minist...

Found it.

Labor: 93 seats
Liberals: 28 seats
Nationals: 15 seats

Pretty damning numbers, coalition or not.

[LNP] National Labor Party

17th May 2025 (All Rise!) His Excellency NP Sir Keith Pitt : King of Lake Burley Campbell

"My absolute privilege & honour to intro downunder PM Tony, Congratulations arch enemy of Domus!"

https://www.pm.gov.au/media/doorstop-interview-rome-italy

17th May 2025 : The Strayan United Nations Party (All invited)

Pauline : "So what I'll say, If they want to, if David Littleproud wants to come and talk with me about doing a Coalition, I'll have no problem sitting down and having a talk with him!"
https://www.skynews.com.au/australia-news/politics/pauline-hanson-invite...

20th May 2025 : (All Rise!)
His Excellency Sir David Littleproud of annexed Zaporizhzhia oblast.

So ya think this is funny...wait until ya read this week's Jobs Column...
Just thought that during the caretaker period...all this dodgy shit gets done...watch this...

Like not so impossibly...tbb stupidly thought to apply for Aussie Nuke Operator Job...( Be very Afraid! )
C'mon tbb this is not real...really! So this is a thing...( Read on...)

Yes! Fair Dinkum...Crew can Apply to Pilot a Nuke Sub...(Ya kidding right...err Nope!)
Your choice of designer Nuke Sub Base Ports...( Again...Ya won't believe this...Holy Shit!)
All the media are lost at sea...but all the gromz are queuing down the Local Nuke Port.
Yes! Of course...
You get a top secret Aukus Map, you get a top secret Aukus Map everyone gets a top secret Aukus Map!
https://www.adfcareers.gov.au/the-adf/navy?page-tabs=our-locations
Darwin Wave Lagoon > Cairns > Lytton > Pott's Pt + 3 Syd Harbour > Jervis Bay > Lake Burley Campbell > Stony Pt > Adelaide > Garden Is

Although yer gonna need XRay Spex just to Apply
Why or who is so stupid to Promo a Green Glowing Nuke Operator...Huh! Is this a Sick Joke!
https://www.adfcareers.gov.au/jobs/navy/electronics-technician-nuclear-s...
[NT-ET] Electronics Technician Nuclear Submariner ]

Job Description ( Your new Secret Mission is to adopt a Nuclear Mind Set )
(The Cool Stuff!)
Maintain Airborne Particulate Radiation Detection Systems / Protection & Alarm + Warning Systems / Emergency Response / Ammunitioning or Ceremonial Duties

Grade 12 is fine but must have yer checkered background checked.
No drivers Licence needed but must be able to swim ashore before ya can Fly the Nuke Sub.
Must be Aussie 16.5 years old to Launch Nuke Missiles but 18 y/o to bomb another Country (Tough shit!)

[ Full Time] Salary = $ 98,834 / year (Hey! That's beneath the Mental Slave Award Wage....Shh!)
ABS / Google ( Average Oz Salary = $102,741 / year )

Yeah Yeah! Ok tbb...But don't forget to tell the crew about all the Perks...
Sure...Ok! ( Ya won't believe this, but ya get to keep yer Green Glow ) ...so cool huh!
Supa 16.4% > Subsidized Home Loan / Rent > Free Med / Dental + New Brighter Teeth
+ All the free X Rays ya want...Ok...now Hodad tbb is interested ...can't live without me weekly X rays!

thermalben wrote:

seeds wrote:

I wonder who’s going to be the deputy opposition leader now?

Good question.

Might just be Ted OBrein I guess. Seems obvious since he’s deputy Liberal leader but he’s pro nuclear power.
Then again Sussan used to be pro Palestine once too.
Flip flop where do my self interests drop?

^^ TBB, peculiar Pauline proposing that coalition. One Nation have no lower house seats. Do they?