Straya!

[JimC]

what would make decent Queensland people suddenly start voting for farage style loons? I mean, that danson lady IS crazy, is she not?

The electorate is in southern NSW, along the banks of the Murray River. And the lady in question, Pauline Hanson, is a federal Senator and a genuine racist. Unfortunately, her One Nation party is polling well, particularly inland, but also in parts of the big cities.

[Sean Hayden]

Seems like she's been around too long now, goodness.

[Svartalf]

what would make decent Queensland people suddenly start voting for farage style loons? I mean, that danson lady IS crazy, is she not?

The electorate is in southern NSW, along the banks of the Murray River. And the lady in question, Pauline Hanson, is a federal Senator and a genuine racist. Unfortunately, her One Nation party is polling well, particularly inland, but also in parts of the big cities.

is there really One Australian Nation? I've always understood that the people of the south coast would never admit commonality with the convicts of Botany Bay, and that the people around Darwin or Perth are their own groups on the side, the people living inland, especially those of the bush, being quite distinct from those of the coasts...

and I'm not even talking about the dozens of independent Aboriginal Nations...

[macdoc]

Ummm it's a badge of honour to have transported ancestry as my partner has.

Bigotry tho against aboriginals is an embedded reality....some xenophobia too.

Aborginals belong to a physical country.....not a nation.

For Aboriginal Australians, "Country" is a profound, spiritual, and physical connection to specific ancestral lands, waters, and skies, rather than a political nation-state. It defines identity, family, and law, representing a deep, reciprocal relationship where people belong to the land, not merely own it

One Nation are bigoted fuck heads with no political power despite the current noise.
The Teals ( centrists ) on the other hand have political force.

[pErvinalia]

Gov handed down this year's budget. Taxes increasing! SOCIALISM!

[Brian Peacock]

But did they tax the asset-wealthy or just make middle-to-high earners pay a bit more income tax?

[pErvinalia]

The former. Now taxing some wealth more inline with income tax rates.

[pErvinalia]

From the Guardian

This year’s federal budget includes changes to negative gearing and capital gains (CGT) and discretionary trust tax concessions – policies that some blame for fuelling housing speculation, and that disproportionately benefit the richest. The top 1% of lifetime earners alone have received more than $700,000 in tax concessions over their working life from capital gains tax, negative gearing and discretionary trusts, according to figures in the budget.
In 2022-23 – the most recent data – the top 10% of income earners received 83% of the benefit of the capital gains tax concession, and 37% of negative gearing. The vast majority of the benefit of both went to people earning above the then median income of $58,216.
Capital gains taxes are the tax paid on the profits (the “gains”) when you sell an asset – like a house – for a profit. Under changes introduced in 1999, investors get a 50% discount in capital gains tax if they hold on to the asset for more than a year.
Negative gearing (what the Treasury calls “rental loss”) is when an investment property makes a loss – like if the rental income doesn’t pay the mortgage – and the losses are tax deductible against a landlord’s income.
The vast majority of both tax benefits went to those who earn above the median income. Of the more than 1 million tax filers in 2022-23, just 71% actually benefited from the capital gains tax discount. Almost all of this – 95% – went to Australians earning above the median income.
But even among the better off, there is a huge inequality – more than half of the capital gains tax benefit went to the top 1% of income earners.

So negative gearing has been removed from all but new builds (to aid housing supply), and capital gains tax discount has been replaced with a CPI discount. Minimum tax rate on capital gains and family trusts will be 30%. Not impressed about that regarding capital gains tax rate, as low income earners (like myself) will get a tax hike when we sell. You should pay tax at your marginal income tax rate.

[pErvinalia]

[Brian Peacock]

that's the thing, isn't it? The monied classes will just increase the interest they charge, whether that's landlords as rent or wealth-fund interest that back lending and mortgages etc, because they have the fiscal power to do so - and because they believe they should always end the month richer than when they started it. Really, we should start viewing their gains as a tax that we all pay to keep them rich.

[pErvinalia]

They can raise rents, but it won't work out for them. This will allow more renters to get into home ownership. Rental demand will fall as a result of these changes.

[Svartalf]

how will whatever allow people who currently rent to get into owning a home? will it give them more available funds? reduce the cost of real estate? it seems I'm missing something important as your reasoning doesn't make sense to me.

[pErvinalia]

The changes make it less lucrative to invest in housing. So less investors means less demand. Meaning relatively cheaper housing.

[macdoc]

And the advantageous tax savings will only apply to new builds from this date forward.
The previous set up took many already built houses off the market for first time buyers as prices skyrocketed.
The new set up protects existing housing while encouraging new builds.

Monetizing shelter is only marginally worse for society than monetizing healthcare.....at least most western countries have avoided the latter.