Who deserves a tax cut? Sqotty's people working hard in difficult jobs on $200k or more.

Chief

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Just plain old folks earning a reasonable wage by workin' hard.

To put it in terms we can understand, that's 2% of the population who really just deserve a big ol' tax cut.

This includes (surprise!) federal MPs on $211,000 base + allowances, kickbacks and post-government jobs.
 

Gough

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All borrowed money too, remember Australia was going to fall apart at the seams because we were borrowing money to pay for welfare? Now we're borrowing money to pay for Maldives holidays.
 

Number37

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All borrowed money too, remember Australia was going to fall apart at the seams because we were borrowing money to pay for welfare? Now we're borrowing money to pay for Maldives holidays.

You're forgetting that they are people 'of calibre' and the taxpayer should never complain about giving free lunches to people 'of calibre', because they're people 'of calibre'.
 

Ned_Flanders

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You're forgetting that they are people 'of calibre' and the taxpayer should never complain about giving free lunches to people 'of calibre', because they're people 'of calibre'.

bloody leaners!!! The only reason they dont earn $200k+ is lack of effort. They should pay extra tax to compensate the true batters who work for a living!!!
 

Chief

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You're forgetting that they are people 'of calibre' and the taxpayer should never complain about giving free lunches to people 'of calibre', because they're people 'of calibre'.
If only we had something like the House of Lords that we could jam these people into as a job for life.
 

Crankyhawk

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now if I heard correctly super goes up to 10 % of income
which is just more money getting pushed into excess contributions and then the bastards claw back more in tax and charges.
and there is no option to restructure income to avoid it
forking bullshit
 

Hornberger

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now if I heard correctly super goes up to 10 % of income
which is just more money getting pushed into excess contributions and then the bastards claw back more in tax and charges.
and there is no option to restructure income to avoid it
forking bullshit
Mandatory super guarantee is capped at income of $235,680. Above that, employers are not required to make further contributions.
10% of $235,680 is $23,568 is less than the concessional super contributions cap of $27,500.
 

FRUMPY

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Just plain old folks earning a reasonable wage by workin' hard.

To put it in terms we can understand, that's 2% of the population who really just deserve a big ol' tax cut.

This includes (surprise!) federal MPs on $211,000 base + allowances, kickbacks and post-government jobs.
Whats the issue?

Sent from my CPH2005 using Tapatalk
 

Crankyhawk

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Mandatory super guarantee is capped at income of $235,680. Above that, employers are not required to make further contributions.
10% of $235,680 is $23,568 is less than the concessional super contributions cap of $27,500.
Employer does not seem to be able to do this,
 

Hornberger

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Employer does not seem to be able to do this,
Employers can do it, they are just too lazy to set up their payroll properly

Edit: The cap is per employer, so if you have multiple employers then you are out of luck. But that also means that you also in the top marginal tax bracket, and you income is already being taxed at the top marginal, so you are not being subject to extra tax on your super, just the same tax as you would otherwise be subject to on your income.
 

Crankyhawk

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Employers can do it, they are just too lazy to set up their payroll properly

Edit: The cap is per employer, so if you have multiple employers then you are out of luck. But that also means that you also in the top marginal tax bracket, and you income is already being taxed at the top marginal, so you are not being subject to extra tax on your super, just the same tax as you would otherwise be subject to on your income.
Also an excess contribution charge which they claim is due to late payment but the rate seems higher than any current interest rate. And if I go over the non concession cap (not likely) the money is taxed 94 c/ dollar (direct quote from ato website)
 

Number37

Anyhow, have a Winfield 25.
Oct 5, 2013
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Also an excess contribution charge which they claim is due to late payment but the rate seems higher than any current interest rate. And if I go over the non concession cap (not likely) the money is taxed 94 c/ dollar (direct quote from ato website)

The rate isn't floating. It is fixed.
Pensioners faced the same issue when the deeming rate was percentage points higher than any real world rate.
 

Seeds

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Just plain old folks earning a reasonable wage by workin' hard.

To put it in terms we can understand, that's 2% of the population who really just deserve a big ol' tax cut.

This includes (surprise!) federal MPs on $211,000 base + allowances, kickbacks and post-government jobs.
They deserve a tax cut cos they are paying far too much of Australia’s tax intake and get little To none of thé service benefits their taxes are paying for.

you are just being selfish wanting to take more of their money for yourself.
 

Seeds

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Mandatory super guarantee is capped at income of $235,680. Above that, employers are not required to make further contributions.
10% of $235,680 is $23,568 is less than the concessional super contributions cap of $27,500.
Wait what? I don’t get that
 

Seeds

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bloody leaners!!! The only reason they dont earn $200k+ is lack of effort. They should pay extra tax to compensate the true batters who work for a living!!!
High income earners not only pay higher taxes then everyone else they pay higher marginal tax rates. maybe you are a low income earner cos you don’t understand what this means and somehow think they are paying less. You aren’t getting dudded.
 

Chief

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High income earners not only pay higher taxes then everyone else they pay higher marginal tax rates. maybe you are a low income earner cos you don’t understand what this means and somehow think they are paying less. You aren’t getting dudded.
They get plenty of loopholes, deductions, and generally better tax advice.
 

Ned_Flanders

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High income earners not only pay higher taxes then everyone else they pay higher marginal tax rates. maybe you are a low income earner cos you don’t understand what this means and somehow think they are paying less. You aren’t getting dudded.

bloody leaners!!!
 

Crankyhawk

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They get plenty of loopholes, deductions, and generally better tax advice.
No no and no.
Fork all deductions for public frontline hcw who doesn’t operate a private practice office. (I say fork all compared to what is available to trades and business)
 

Chief

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No no and no.
Fork all deductions for public frontline hcw who doesn’t operate a private practice office. (I say fork all compared to what is available to trades and business)
OK: They mostly get plenty of loopholes, deductions, and generally better tax advice.

$200k+ salaried worker still has negative gearing options too.
 

Crankyhawk

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OK: They mostly get plenty of loopholes, deductions, and generally better tax advice.

$200k+ salaried worker still has negative gearing options too.
It doesn’t drive income down for super purposes. And I’m also wanting more restrictions on negative gearing
 

Seeds

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They get plenty of loopholes, deductions, and generally better tax advice.
I am one of those people. there are no loopholes. No deductions.

And the tax advice from experts is that there are no loopholes and deductions.

I pay tax today on super i can’t touch for 30 years. I pay full child care fees while everyone else I know gets massive subsidies.

it’s fake news that workers on high incomes avoid paying tax. We don’t. At least not in this country.

high income owners on 200 plus thousand a year pay the same marginal tax rate as those earning 20-30 million a year.


the People who can avoid paying their full extent of taxes are the extremely rich Capital owners. Not the high income workers.