Federal Budget 2019 Discussions

scotty on 02/04/2019 - 20:49

I thought we should have one dedicated thread for Federal Budget 2019, delivered by Josh Frydenberg, since we have similar threads for 2018, 2017, 2016, etc.

Quick summary from ABC — Winners & Losers.

I guess as a tax payer under $126,000 I am sort of a "winner", and a small business owner having instant asset write-off increased to $30,000 might sound useful even though I've never used (biggest assets we buy are probably ThinkPads).

Are you affected? What do you think about the Federal Budget this year?

Financial Federal Budget

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Budget.gov.au
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Comments

  • [Deactivated] on 02/04/2019 - 21:05
    +8

    I like that fire ants are losers.

    This is a big win for me.

  • tanksinatra on 02/04/2019 - 21:08
    +1

    The quick summary is interesting.

    I'm glad that they are continuing to fund the ABC.
    I'm unconvinced on the decentralisation of Canberra.
    I'm glad we are winding back foreign doctors.
    I'm glad to see the Queensland infrastructure spend. Those roads were/are horrendous.
    Good to see more cancer and mental health funding.
    I'm not sure on the impact of the asset write-off scheme.
    I hope the Apprentices payment scheme doesn't get abused.

    I'd like to see a wider commitment to health spending but overall it seems like a reasonable budget.

    • serpserpserp on 02/04/2019 - 21:55

      I'd like to see a wider commitment to health spending

      Yes the big elephant in the room.

      Health infrastructure and infrastructure in general needs to be addressed. But these things are usually not addressed in the budget and usually used as ill thought out election promises just weeks before polling day (Melbourne's suburban train ring is a fantastic example).

  • mskeggs on 02/04/2019 - 21:51
    +2

    My financial situation is right in the zone they are targeting, but I rate this as a "meh" kind of budget. Nothing interesting or exciting, but none of the nastiness of the traditional liberal budgets like Tony Abbott's a few years ago. The middle income tax cuts aren't enough to get anybody too excited, but will put a dent in repaying debt, so not really electoral dynamite…
    I guess I am one of the people who has stopped listening, because I don't think they have a chance of staying in power, so this stuff will never eventuate anyway. I guess to their credit they must have been tempted to throw out the rule book and promise anything to stay in power, which I am glad didn't happen, for the sake of the country should Labor have sought to match it.
    They can legitimately campaign on a reasonably sensible budget. But I think the Labor party will be able to do so as well, so it is unlikely to bring them the votes it might have in the past.

    • [Deactivated] on 02/04/2019 - 21:58

      Libs are back in NSW, anything is possible . We might have to get used to the Happy Clapper

      • mskeggs on 02/04/2019 - 22:14
        +1

        Libs losing in NSW was always a long shot, and Foley and Daley’s respective personal screw ups blew the chance (of an otherwise reasonably capable team).
        Shorten would have to be pictured in the nuddy with Pell for this LNP mob to get another chance.

        • [Deactivated] on 03/04/2019 - 13:14
          +1

          Hope you're right, the NSW Libs dissolving the OEH was a sign of what's to come if they get back in.

        • [Deactivated] on 03/04/2019 - 13:15

          Hope you're right, the NSW Libs dissolving the OEH was a sign of what's to come if they get back in.

  • serpserpserp on 02/04/2019 - 21:56
    +1

    I am one of the people who has stopped listening, because I don't think they have a chance of staying in power

    And they really haven't done themselves any favours with this budget. People don't want tax cuts anymore they want infrastructure where they live to improve their lives and the government just can't seem to deliver this stuff fast enough.

    • stirlo on 02/04/2019 - 22:15
      +7

      Only those who don’t pay much tax don’t want tax cuts…

      I’m happy to see the $1 billion for chasing down multinational tax evasion, it will be a pleasant change to see the government go after the real thieves rather than raising robo debts against those least able to pay.

      • mskeggs on 03/04/2019 - 06:35
        +5

        Give me a break, there is a 4 in 5 chance I pay more tax than you, so don’t tell me about tax cuts.
        What I want is responsible government that spends my tax money wisely.
        Tax me more if it does things like address over crowding on my train, or provide dental care to people in pain or work out a way to not have millions of fish dying in our rivers.
        Taxes are low in Somalia, but so are services. I’ll take taxes and and a decent society over lower taxes and no services any day.

        • stirlo on 03/04/2019 - 07:32
          +1

          If you’re paying more tax than 4/5ths of people you are earning in the top 20%. From up there tax cuts might mean the difference between a Land Rover or a Range Rover but for those who don’t have as much income to spare every little bit counts.

          Especially for those earning less than $45k who will now get an extra $1000 in their pocket, that’s a substantial chunk of money for those doing it tough. What everyone strives for is efficiency in government, if the government can deliver acceptable services while taking less from those who don’t have it to spare then they’ve done a good job.

          Also let’s point out this is a coalition government giving tax cuts to people near the bottom not the top which is a welcome change that should be applauded.

          • CheapSticks on 03/04/2019 - 08:47
            +1

            @stirlo: Agreed ! Not that I am getting any of that $1k.

        • slow on 03/04/2019 - 07:33

          Well said

        • ozhunter on 03/04/2019 - 07:43

          Give me a break

          Depends how much you earn. If it's under 80k, I'd say a tax cut is more than welcome, especially if you have a family. If I was earning 200k+, not getting a tax cut wouldn't phase me as it would be easy to live comfortably.

          What I want is responsible government that spends my tax money wisely.

          Not sure everyone would agree on what's considered responsible spending, or which government can spend the money wisely, regardless of who wins. So I'd happily take the tax cuts.

          Taxes are low in Somalia, but so are services

          But that doesn't seem to be the case in places like UAE or Qatar.

      • brad1-8tsi on 03/04/2019 - 09:29

        Only those who don’t pay much tax don’t want tax cuts…

        I'm not on the $300k that most ozbargain members are but I do OK. The proposed changes will save me about $5k/pa.

        I'd much prefer that they don't fiddle around at the $90k-$180k region and increase the O% bracket threshold to $25k and reduce the 19% band to ~15% from $25k-$45k. That would help a lot of people that really need the cash.

        For me, it's all pie in the sky. To offer a tax break in 4 years time is a joke. Look how many times the goalposts have been moved and promises have been broken by both sides of the political rectum. I bet it never eventuates.

        I agree with mskeggs.
        I'd rather money be spent out in the regional areas to attract people from the cities.
        I want us to recycle our waste onshore rather than ship it to 3rd world countries.
        I want our public schools funded properly and teachers that are high quality, enthusiastic, and paid what they are worth (and the drop kicks sent elsewhere).

    • [Deactivated] on 02/04/2019 - 23:28
      +4

      Wait hold up.

      I'd like to see tax cuts. As a tax paying member of the public that has paid multifold what the average Australian would pay in their lifetime and has only ever used HECS, I'd like to see spending be more efficient and the reliance on my hard earned money reduced.

      • mskeggs on 03/04/2019 - 06:38
        +3

        Not sure how you manage to not make use of roads, healthcare, law enforcement, pollution standards, judiciary, consumer standards, defence, education etc. I presume you must live off shore and did your HECS study remotely.
        But I share your desire for wise spending.

        • [Deactivated] on 03/04/2019 - 08:52
          +1

          Okay. I am referring to the funding that goes to things that are direct payouts/cost and not infrastructure.

          To be more specific, I'm not using anything (sans HECS) more than a tourist would.

          Anyway, back to topic of spending. More efficient spending and tighter control of funds going into the giant pit which is Medicare and Centrelink is a good place go start.

  • Wystri Warrick on 02/04/2019 - 22:10

    Hello scotty 😀.

    I guess as a tax payer under $126,000 I am sort of a "winner", and a small business owner having instant asset write-off increased to $30,000 might sound useful even though I've never used (biggest assets we buy are probably ThinkPads).

    Excuse my ignorance, but do you mean that you don't do asset depreciation?
    You really should, you're a small business.

    • stirlo on 02/04/2019 - 22:15
      +4

      The biggest assets his online business owns are laptops which are worth far less than $30k…

      • Wystri Warrick on 02/04/2019 - 23:07
        +3

        Bedtime for me.

      • scotty on 03/04/2019 - 08:35
        +3

        That's correct. We have no office, no landscaping, no motor vehicles, etc. We don't even own our servers but renting multiple VPS on monthly basis.

        However government bumping the threshold from $1000 to $20k did allow me to buy some fancier ThinkPad's (not just the E-series).

        • Clear on 03/04/2019 - 10:16
          +1

          No high yield investment car with OzBargain on the side and custom number plate?

          • scotty on 03/04/2019 - 10:39

            @Clear: My accountant did not approve. I guess she is not an OzBargainer…

            • Clear on 03/04/2019 - 11:21

              @scotty: Is she your wife?

              • scotty on 03/04/2019 - 11:23

                @Clear: No. Someone else has been doing our accounts.

                • Clear on 03/04/2019 - 13:31

                  @scotty: Sounded like it was your wife for a second there.

                  "No Scotty you can't have the new Mercedes AMG in Orange…"

  • Clear on 02/04/2019 - 22:27

    If this means I get more money back at tax time after having owed money a few times then I'm all for it. Though looking at the budget as a whole I'm not really impacted that much it seems.

  • kingmw on 02/04/2019 - 23:11
    +2

    Wow, no changes to superannuation or creation of a new super scheme! Must be a first.

    • brad1-8tsi on 03/04/2019 - 09:31

      There are but they were released quietly on Monday.

  • ECE on 02/04/2019 - 23:13

    Thanks ScoJo

  • Wystri Warrick on 03/04/2019 - 08:05
    +1

    I don't see how welfare recipients are a loser, the changes only affect people cheating the system by having a job and reporting less pay to Centrelink.
    I think 2.1 billion in savings over 5 years is wishful thinking though.

    Good to see measures being introduced on multinationals and corporations cheating the system.

    A interesting read on doctors, foreign doctors.

    Good to see a increase in funding for mental health.

    • [Deactivated] on 03/04/2019 - 08:54
      +2

      According to recent discussion on sick leave, isn't cheating the system some kind of Australian thing?

      • Wystri Warrick on 03/04/2019 - 09:22

        Well who am I to argue with Australian traditions…

  • tranter on 03/04/2019 - 08:49
    +1

    We are all winners because HighAndDry will be out of the Penalty Box today.

    • [Deactivated] on 03/04/2019 - 08:52
      +2

      Been looking forward to that.

  • dust on 03/04/2019 - 09:45
    +1

    I guess as a tax payer under $126,000

    Based on forum posts, the average OzBargainer will receive zero tax cuts.

  • Ryanek on 03/04/2019 - 09:52
    +1

    I feel a lot of people will just see that $1080 extra pocket cash to spend on a new TV and vote based on that alone.

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