Treasurer Joe Hockey faces $51 billion black hole

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Tayl0r said:
Do you want to tank the only "investment" that a lot of people have by deflating or stagnating property prices?

If we punch in $1,000 per square metre like vacant blocks around where I live then this country is worth a fortune.
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It needs to be tempered, otherwise you risk creating a housing bubble. When that bursts it'll hurt a lot more than the cost of a bit of capital growth.
 
Redalert said:
It needs to be tempered, otherwise you risk creating a housing bubble. When that bursts it'll hurt a lot more than the cost of a bit of capital growth.
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In real terms, the cost of home ownership the last couple of years has decreased in a lot of places, if you factor in lower interest rates. eg. easier to pay off $525,000 home at 4.8% than $475,000 at 7.8%

Should we ever return to 9% home loan interest rates though or high unemployment, that is when the s**t will hit the fan with respect to property prices.
 

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kirky said:
Firstly, the structural deficit goes back to Howard and Costello with unsustainable tax cuts and tax breaks (superannuation is a greater cost to the budget going forward). They had the benefit of the mining boom and blew the majority of tax bribes to stay in power. Superannuation is the elephant in the room which needs to be fixed.
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And when did the mining boom begin?
 
Lebbo73 said:
They definitely shouldn't be allowed to avoid paying tax. I won't say I support increasing taxes on corps though!
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Yep

We need to review our transfer pricing laws better or start requiring customers to with hold tax with those that don't comply.
 
madmug said:
But what are the odds anyone wants to go to such massive costs to invade us in the first place. Again a good submarine force is the best deterent.
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How do you attack Australia? Amphibious landing is the only way - how does anyone do that. There is nowhere to stage an attack on Perth from. And Melbourne and Sydney are suitably isolated. Brisbane is protected by the reef. They can land in the north, but to do that you need to go through Indonesia or PNG and then good luck with your next move once you land.

Isn't it cheaper just to buy the s**t you came to steal?
 
Dry Rot said:
No, but many of them deserved to be voted down.

BTW, who's your avatar?
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Hey Dry Rot and Medusala, sorry to be off topic, but the man in Medders avatar is actually Rick McCosker.

That was the day that he had his jaw broken, retired hurt and came out to bat when needed.

When he came back to the pitch, Rod Marsh was at the other end.

Marsh walked up to him to enquire how McCosker was going. McCosker told him to mind his own f**king business and to go on and get a hundred.

Marsh got his 100, his first and the first ever by an Australian wicketkeeper.

Back on topic. :)
 
Goldenblue said:
Hey Dry Rot and Medusala, sorry to be off topic, but the man in Medders avatar is actually Rick McCosker.

That was the day that he had his jaw broken, retired hurt and came out to bat when needed.

When he came back to the pitch, Rod Marsh was at the other end.

Marsh walked up to him to enquire how McCosker was going. McCosker told him to mind his own f**king business and to go on and get a hundred.

Marsh got his 100, his first and the first ever by an Australian wicketkeeper.

Back on topic. :)
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He must have changed his avatar, it was Doug Walters when the question was asked.

That was the Centenary Test you are referring to when McCosker broke his jaw. Marsh actually scored his third test hundred in that match.
 
Goldenblue said:
Back on topic. :)
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Off topic my Aunty told me she was in the same art class or something as the ex wife of that bloke in your avatar. My aunty told me that she is an exceptionally good artist and her name is Ginger. The class was somewhere on the south downs in West Sussex England years back. The bloke you have posted is some obscure musician I am lead to believe.:)
 
sherb said:
He must have changed his avatar, it was Doug Walters when the question was asked.

That was the Centenary Test you are referring to when McCosker broke his jaw. Marsh actually scored his third test hundred in that match.
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Thanks for that Sherb. I thought that was his first hundred. My memory is beginning to allude me as the years go by.
However, he did tell Marsh to STFU and get a hundred. :D
 
QuietB said:
How do you attack Australia? Amphibious landing is the only way - how does anyone do that. There is nowhere to stage an attack on Perth from. And Melbourne and Sydney are suitably isolated. Brisbane is protected by the reef. They can land in the north, but to do that you need to go through Indonesia or PNG and then good luck with your next move once you land.

Isn't it cheaper just to buy the s**t you came to steal?
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you could wipe out our entire navy fleet on christmas eve, with two divers, when all our ships are tied up at fleet base east and west. you could wipe out our air force as per above.

but the realistic scenario would see australia only attacked in a much bigger conflict and we would be better prepared.
 

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Goldenblue said:
Thanks for that Sherb. I thought that was his first hundred. My memory is beginning to allude me as the years go by.
However, he did tell Marsh to STFU and get a hundred. :D
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Marsh was indeed the first Aust wicketkeeper to score a test hundred, against Pakistan in 72/73.

That hundred in the Centenary Test then made him the first Aust keeper to score a hundred against England, I think that's where the confusion lies with some.

:)
 
Legendary stuff. Far more interesting than the cigar smoking glutton referred to in the OP who oscillates between being somewhat clueless, eating and being utterly clueless.

Opener Rick McCosker's Centenary Test didn't start happily when he received a broken jaw after being struck by a Bob Willis bouncer early on the opening day. To add insult to injury the ball ricocheted onto the stumps to have him dismissed for 4. Late in Australia's second innings, with Rod Marsh on the way to his maiden Test century, the first by an Australian wicket keeper, McCosker bravely returned to the crease, his head swathed in bandages. He made a gallant 25 and in the process helped Marsh achieve history
 
Redalert said:
Shouldn't one of the goals of government be to reduce the tax burden on its citizens? Labor also then had a good 6 years in power and it than time it failed to deliver a single budget which was even close to sustainable. Completely agree that super needs to be reformed though, its currently being used to minimise taxation rather than for long-term retirement savings. The property boom also needs to be looked at, the market's massively overheated in the capitals and people need to be encouraged to invest elsewhere.
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Yes, reduce tax however you still have to provide services (health, education, infrastructure). That's why the structural deficits started by the instigation of unsustainable middle class welfare then add the generous superannuation concessions. The whole problem with our tax system it is about tax minimisation - negative gearing, superannuation - all long term unsustainable policies. By the way, we did have a GFC.
 
Chief said:
Them subsidies :(
http://www.zerohedge.com/news/2014-11-11/and-then-there’s-things-you-couldn’t-even-make
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Seems the comments section have a better handle on things

forexskin

Those $88 billion go towards exploration for new oil, gas and coal resources which, according to the UN’s IPCC climate panel, can never even be ‘consumed’ lest we go way beyond our – minimum – goals for CO2 concentrations and a global 2ºC warming limit.

stopped reading right there,

Tue, 11/11/2014 - 20:41 | 5438853 exi1ed0ne

+1

Tue, 11/11/2014 - 22:02 | 5439068 max2205

* up as it ever was.......

Wed, 11/12/2014 - 05:24 | 5439519 winchester

subzidized, yes, nationalized, nop. when a country do not have money, they do not nationalize companies, they sell em.



Tue, 11/11/2014 - 20:56 | 5438889 intotheblack

I'm right there with you. Stopped reading, rated this artcle as crap.

Tue, 11/11/2014 - 21:41 | 5439007 ParisParamus1

Pathetic progressive propaganda. Tax breaks are not subsidies! You know who gets subsidies? All those disasterous green energy scams and sWINDles that have never earned a penny of profit.
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medusala said:
Opener Rick McCosker's Centenary Test didn't start happily when he received a broken jaw after being struck by a Bob Willis bouncer early on the opening day. To add insult to injury the ball ricocheted onto the stumps to have him dismissed for 4. Late in Australia's second innings, with Rod Marsh on the way to his maiden Test century, the first by an Australian wicket keeper, McCosker bravely returned to the crease, his head swathed in bandages. He made a gallant 25 and in the process helped Marsh achieve history
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Incorrect. As previously noted.
 
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