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Feb 17, 2017

Government stumbles on tax -- part 598

Every time Bill Shorten gives the government an opportunity to target him, it gets distracted by its own divisions and bungles. That's why the Opposition Leader has such a charmed life.

One of the reasons that Bill Shorten has been a successful opposition leader — there are several, and some of them, like his policy bravery, are to his credit — is that he has been lucky in his opponents. Tony Abbott was a widely acknowledged disaster as prime minister. Malcolm Turnbull has turned out to be a monumental disappointment. And just as Tony Abbott was lucky to have a de facto ally in Kevin Rudd, who constantly undermined Julia Gillard, so Shorten is lucky to have, in Tony Abbott and his right-wing pals, similar allies against Malcolm Turnbull.

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12 thoughts on “Government stumbles on tax — part 598

  1. Marwill10

    If we listen to the Government, the people who negative gear properties are teachers, nurses and the like. Just your everyday middle income families, trying to plan for their future.

    So, we can’t touch negative gearing. What they fail to say is that high income earners and politicians have even larger property portfolios.. The Gratton Institute released a report early last year that said research found the two concessions, negative gearing and capital gains concessions, combined, cost the budget $11 billion a year.

    Negotiations are going on to try and address this issue, however, sitting at the table is Self Interest, and he carries a lot of weight.

  2. Michael

    What the govt should consider, of course, is a comprehensive levelling of the playing field, by taxing trusts as companies, abolishing CGT discount and capping the average tax rate at 30% (the average rate that currently applies to a taxpayer with annual taxable income of about $180000). But I expect they owe too much to their special interest supporters (and financial self interest) to do so.

  3. Steve777

    Any housing affordability ‘solution’ that this Government comes up with would be a pretend bullshit plan like Direct Inaction for clmate change. Pretend to do something without inconveniencing any part of their constituency or costing them a cent.

  4. mike westerman

    BK you forget the single important calculation to this peacock of a fellow Turnbull: he has to survive another 205 days to have served for longer than Abbott. I don’t think any policy rubbish or backflip is too far fetched for him in trying to better this goal. He judged correctly that Abbott was a failure, so he has set the measure.

    1. zut alors

      Back in the pre-politics era when Trumble was merely citizen Malcolm Turnbull he enjoyed a good life &, no doubt, was the envy of many. Which begs the question, why does he continue to sell out to a barely controllable Coalition with the daily horrors of tolerating Joyce, Bernardi, Christensen et al. If he was implementing policies to improve Australia this could be his reward – alas, there is no evidence of improvement, we are sliding backwards.

      Remember when life was good, Malcolm? It will be again.

  5. Dog's Breakfast

    I’m not even sure what ‘stumble’ Shorten had on NDIS?

    Ending negative gearing and capital gains concessions is a no-brainer. As it is, the only way into the housing market for the young is to stay at home and buy a property to rent out, so at least they have a chance of competing. But in pure economic terms, there is no case for a capital gains concession at all, it should be taxed exactly as any other form of income.

    Thanks Peter Costello, yet another policy shambles that has to be undone by heroic political courage, like so much of what you did. The legacy continues.

  6. CML

    If Talcum can’t manage his own party (let alone run the country!), how is that Bill Shorten’s fault? And Bernard…what is this Shorten/NDIS crap you are dog-whistling about? A few more FACTS wouldn’t go astray, since others on this thread don’t know what you are talking about either!!

  7. bushby jane

    The elephant sounds xenophobic, but apparently a lot of properties, houses and apartments, are being bought by Chinese people outbidding and driving up prices in Melbourne. I thought that the Chinese govt had rules about the quantity of money leaving their country, but I can only assume this is circumvented somehow. Really, our govt needs a policy re this, different to that applying to rural property in Australia.

    1. loz

      And energy policy is going for a walk in the dark. 40000 homes without power in Sydney. But as Turnbull would probably crank out, “this is not SA”. What this pathetic mob doesn’t realise is that energy security means embracing CLIMATE CHANGE and developing strategies to counter it. That means taking a stand in the International arena and leading. Blaming wind and solar and all the bullshit that goes with it is like the prefect at my old school running to the headmaster to complain about a something that never happened to garner favour. END

      1. loz

        NSW has problems. Energy infrastructure fails as a global warming event takes grip of NSW and spits it out in the dust. Where is Malcolm The Marvellous ?

  8. AR

    I thought the article was about gumBoil Shlernt but then saw a reference to “policy bravery” so it clearly wasn’t about the hole in the air, oxygen thief & ideas free zone currently bed blocking the ALP leadership.

  9. bushby jane

    What about Alcoa in Victoria, failure of coal.