fordy said:
- The private health excess only applies to people over 31, and it's a small excess, something like $2 for every year that you're not insured. That's your option: pay the excess or buy private health insurance. Yes I've had to do the same, even though I've never had any history of medical problems. The alternative is to probably raise the medicare levy for everyone. - Actually the Victorian government has tried this recently. People who bought land over a certain acreage, even near creeks that have never flooded, are unable to build on them. These people have effectively had their life savings destroyed since the land value is worthless now that it can no longer be built on. Now there is call that there is too much government intervention in these matters. So either way, someone is bound to lose. And what do you do with the residents living near rivers in places like Melbourne and Brisbane? Land in the middle of metropolitan areas cannot be so easily dumped. - You mean capital gains? It depends on who you ask. Let me start by asking, what about people who have millions in the bank and live off the interest? Should they be able to live off public resources paid by worker's taxes? An income by investment is still an income. If you ask others, they'll say bank interest is for chumps, since there's many other ways to legally avoid taxes, such as negative gearing on property investment. |
- I thought the excess (surchage i think its label on the tax form) is 1% extra on top of the original 1.5% medicare levy i f you earnt over $70,000. If you get private heath over the age of 31, then you pay the $2 for every year when you actually get the cover. I knwo my mum got it late so she pays about $20 more than me for samecover, but in the years previous to havng health, she had to pay apporx 1% surchase on taxes to medicare levy. Back in her day the threshold was $50,000, so $500 extra.
- The flood stuf I was refering to was QLD, these areas are designated flood plains (meaning they flood on a regular basis, not a once every 100 year thing). The severity obviously varies. aOne example, the rail tracks in the flood plains that got washed away, they rebuilt them exactly the same way (i.e created an elevated train track which creates a dam wall. They should include tunnels thruogh the wall, so water can continue its natural flow to the main river.
- Not sure if interest is part of the capital gains section, but it is in the income section of tax on its own i think. I think on interest earned they charge a flat 30% or so. Many things are means tested in our tax system, so I don't see why this cannot be the same at a minimum. Negative gearingis great if you got enough money to get into the realestate investment market. I was more refering to the low to middle class, who save some extra cash rather than blow it all.
