Carbon Pricing (11)
wash2u: One for Rob to really get his finger in.
Aust has currently a Carbon Tax of $29/tonne. And this is linked to the EU Carbon Pricing Pricing Policy. The EU Carbon Tax has just come down to $3 something/tonne. In my local Council, streetlighting electricity supply has risen by 20% this month because of the Carbon Tax. And the ongoing maintenance charges have average 3% each month so far this year (now 15% more than last December). For normal consumers, that is inclusive of your bill. Local Gvot has the full breakdown.
As the current budget has based a lot of its income on the Carbon Price (and the Mining Reform Tax before that got bogged down in the courts), what are the ramifications? Will they ignore what they have promised and keep it at that very high level as against the market indicator they are were going to follow or are they going to have to do some massive spending cuts?
They have announced $billion cuts to university funding to try to prop up the Gronski reforms they want (oops, these were the people opposed to national education system reforms wanted by the Libs/Nats for so many years).
The May budget is going to need a lot of tweeking. I have my fingers and toes crossed that my super is not going to take another nosedive to prop up the govt.
Aust has currently a Carbon Tax of $29/tonne. And this is linked to the EU Carbon Pricing Pricing Policy. The EU Carbon Tax has just come down to $3 something/tonne. In my local Council, streetlighting electricity supply has risen by 20% this month because of the Carbon Tax. And the ongoing maintenance charges have average 3% each month so far this year (now 15% more than last December). For normal consumers, that is inclusive of your bill. Local Gvot has the full breakdown.
As the current budget has based a lot of its income on the Carbon Price (and the Mining Reform Tax before that got bogged down in the courts), what are the ramifications? Will they ignore what they have promised and keep it at that very high level as against the market indicator they are were going to follow or are they going to have to do some massive spending cuts?
They have announced $billion cuts to university funding to try to prop up the Gronski reforms they want (oops, these were the people opposed to national education system reforms wanted by the Libs/Nats for so many years).
The May budget is going to need a lot of tweeking. I have my fingers and toes crossed that my super is not going to take another nosedive to prop up the govt.
Good luck with your Super, we all know the government can and will do whatever the fark it wants. I thought the whole carbon scheme was a croc from the get go and I don't even understand it.
wash2u:
The May budget is going to need a lot of tweeking. I have my fingers and toes crossed that my super is not going to take another nosedive to prop up the govt.
Why would it affect super? They cant touch that can they?The May budget is going to need a lot of tweeking. I have my fingers and toes crossed that my super is not going to take another nosedive to prop up the govt.
The carbon tax is a joke! Its not necessary as the climate will change as it has done before we ever got here! But you did forget the double take? They also charge you extra GST on top of the carbon tax? So a tax on a tax? Now you know what its like being a smoker!
WA has said NO! to Gonski! As it would mean holding our schools back until the rest of you guys catch up to our standards, at least four too six years,
As for your super? Grab it before they can! Super used to be tax free? As it was used to invest into infrastructure as well as the share markets, now the governments are circling it like sharks!
WA has said NO! to Gonski! As it would mean holding our schools back until the rest of you guys catch up to our standards, at least four too six years,
As for your super? Grab it before they can! Super used to be tax free? As it was used to invest into infrastructure as well as the share markets, now the governments are circling it like sharks!
tonyxf: Why would it affect super? They cant touch that can they?
The NSW Labor(ing) Govt did with my Super fund back in 2001. They said there was too much money in the fund and decided to take out $650 million to hand back to Local Councils who had been contributing to the fund as well as us contributing before compulsory employer super contributions. That equated to more than $300,000 for each person still in the fund. Must thank the Union for putting up such a titanic effort not to fight it.
And at certain ages, some Super payouts are currently tax-free. Others are at 20% Tax. Could so easily change if the Govt needs to prop itself up.
wash2u: And at certain ages, some Super payouts are currently tax-free. Others are at 20% Tax. Could so easily change if the Govt needs to prop itself up.
Think I'll take it out before the May budget.The day the government started the super idea I knew that by the time I am due to retire that they would find away to cash in on it? There is a lot off money in super! And we all know how they like money?
Wash2u, the unions caved in because the Gov put the funds into union funds? Like the TWU super fund I was put into at the time?
ATM, I have the 3% salary sacrifice with the council for super which they match dollar for dollar, but that is to change once the 12% by the feds comes in? they have already said that they will reduce their contributions each year, until the 12% comes in too zero, that is when I will stop the salary sacrifice, as it’s a good tax dodge ATM, and my Tax guy is real good!
Wash2u, the unions caved in because the Gov put the funds into union funds? Like the TWU super fund I was put into at the time?
ATM, I have the 3% salary sacrifice with the council for super which they match dollar for dollar, but that is to change once the 12% by the feds comes in? they have already said that they will reduce their contributions each year, until the 12% comes in too zero, that is when I will stop the salary sacrifice, as it’s a good tax dodge ATM, and my Tax guy is real good!
Blizzard14u: The day the government started the super idea I knew that by the time I am due to retire that they would find away to cash in on it? There is a lot off money in super! And we all know how they like money?
Wash2u, the unions caved in because the Gov put the funds into union funds? Like the TWU super fund I was put into at the time?
ATM, I have the 3% salary sacrifice with the council for super which they match dollar for dollar, but that is to change once the 12% by the feds comes in? they have already said that they will reduce their contributions each year, until the 12% comes in too zero, that is when I will stop the salary sacrifice, as it’s a good tax dodge ATM, and my Tax guy is real good!
.Wash2u, the unions caved in because the Gov put the funds into union funds? Like the TWU super fund I was put into at the time?
ATM, I have the 3% salary sacrifice with the council for super which they match dollar for dollar, but that is to change once the 12% by the feds comes in? they have already said that they will reduce their contributions each year, until the 12% comes in too zero, that is when I will stop the salary sacrifice, as it’s a good tax dodge ATM, and my Tax guy is real good!
Blizz, it is a good tax dodge and the Govt does allow (at the moment) for you to kick in up to $50,000pa which is not part of your taxable income (at the moment). This amount was something like $100,000 a few years back but the Govt realised how much they were losing in Income Tax so changed it. Could happen again but the Govt wants everyone to be self-funded retirees so they don't hand out pensions and free medical. Self-funded retirees often have to have private health insurance.
Today in the mail I got an invite from 1 of my funds to a "Free Super Seminar on 16 May where they will explain retirement options by qualified Financial Planners. Damn, why couldn't it have been this month.
I think they have it all wrong they should be taxing oxygen… that would stop all the huff puff in politics.
AgentAjax: I think they have it all wrong they should be taxing oxygen… that would stop all the huff puff in politics.
I think the trees have been taxed enough? After all they make our oxygen!
I also don’t think we have one politician in this country that could hold his or her head above water when it came to kickbacks, unless the pool was full with the others and you could no longer push them under the water, we need bigger pools in this country!
Amazing how taxation never actually causes the desired change to any great degree - as long as corporations can pass the bill on down through service fees tot he consumer, there is no hope...
wash2u: One for Rob to really get his finger in. Aust has currently a Carbon Tax of $29/tonne. And this is linked to the EU Carbon Pricing Pricing Policy. The EU Carbon Tax has just come down to $3 something/tonne. In my local Council, streetlighting electricity supply has risen by 20% this month because of the Carbon Tax. And the ongoing maintenance charges have average 3% each month so far this year (now 15% more than last December). For normal consumers, that is inclusive of your bill. Local Gvot has the full breakdown.
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Aust has currently a Carbon Tax of $29/tonne. And this is linked to the EU Carbon Pricing Pricing Policy. The EU Carbon Tax has just come down to $3 something/tonne. In my local Council, streetlighting electricity supply has risen by 20% this month because of the Carbon Tax. And the ongoing maintenance charges have average 3% each month so far this year (now 15% more than last December). For normal consumers, that is inclusive of your bill. Local Gvot has the full breakdown.
As the current budget has based a lot of its income on the Carbon Price (and the Mining Reform Tax before that got bogged down in the courts), what are the ramifications? Will they ignore what they have promised and keep it at that very high level as against the market indicator they are were going to follow or are they going to have to do some massive spending cuts?
They have announced $billion cuts to university funding to try to prop up the Gronski reforms they want (oops, these were the people opposed to national education system reforms wanted by the Libs/Nats for so many years).
The May budget is going to need a lot of tweeking. I have my fingers and toes crossed that my super is not going to take another nosedive to prop up the govt.