Merged:Budget surplus and New Budget Thingy

**CJJHRA** · 09-05-2006 23:34

Ok, does anyone know what the changes are?

I see they were increasing Family tax benifit threshold thingy bobbies, so you can now earn up to $40 000 a year instead of the $33 000, is that correct?

and they now will pay larger family supplement from the third child, but is it increasing, or is it still a lousy $7 or so a fortnight.

I missed the news, kids were chattering, as it was my twins' 5th birthday and we let them enjoy their day

**JnA** · 09-05-2006 23:39

"In addition, the Large Family Supplement of $248 a year - currently received by families with four children or more - will be extended to eligible families with three children with effect from July 1."

less than a $1 a day doesn't sound too helpful, but I suppose it's better than nothing. Not sure it's an incentive (to me anyway) to have more kids though.

**kiwibird27** · 09-05-2006 23:48

Budget sounded great - We are middle income so all smiles 4 us!!! The super tax greats are brillant to - at least when u retire the government says thanks by eliminating tax!!!

On another note.......

Petrol prices............. why is everyone complaining - New Zealand was up to $1.80 a litre - even with the exchange rate thats really high, and petrol in Holland is Euro 1.80, which is close to $3.00 a litre (could be slightly out it's late and I'm grumpy) and all i hear on the news is moaning about petrol prices and the price of living..........It's the cost of living - thats just how it is, we get payrises every year (even minimal ones) so living expenses have to rise eventually.
We live in Sydney and still haven't paid over 1.35 a litre!!!! Thats pretty good really

SORRY EVERYONE AM JUST A BIT GRUMPY TONIGHT!!!

**Pippi Longstocking** · 10-05-2006 07:53

Oh bollocky poo bum! I forgot to watch the budget last night on sky news like I meant to. I'll be back once I've read it in the paper, I am sure I'll have stuff to whinge about

.

How did issues of social justice fair? Any boost to social welfare? *guffaws loudly at own optimism*

**MariaO** · 10-05-2006 08:12

Originally Posted by rynosmum

I watched the Paul Keating interview on TV last night where he referred to the foreign debt as well. Interestingly enough, he also didn't seem to have any ideas on how to get rid of it.

On the budget though, I'm pleased to see taxcuts for most and less tax for people living off their superannuation. More childcare benefits and a higher salary cutoff before Family Assistance gets affected.

To me, these are beneficial on a day to day basis. How we solve the massive debt issue though Goosie, I'm not sure that anyone knows how to tackle that one...and that's pretty scary stuff.

I think that Paul Keating suggested having incentives for savings -

**Goosie22** · 10-05-2006 08:18

The foriegn debt would also be addressed by cutting imports, this would also help our own country as people would have to buy Australian Made.

It would make everyday things cost a bit more and that wouldnt be popular so the government is going to do that are they?

**Pippi Longstocking** · 10-05-2006 09:17

Rightio, I skimmed through the budget extra in The Australian. 'Tis as I thought - we are well and truly screwed. I have been desperately seeking work because we are sliding backwards at an alarming rate. The good news is I guess I don't have to look for work anymore. What is the point? Yay, there are more childcare places but the money that I could potentially bring in will be lost to the cut in family tax benefit, the rate of tax we'd pay on my income and childcare.

There is no mention of the health crisis. Not a word. Nor did I see any mention of education. Welfare issues that were addressed only affected those that are not exactly struggling. Those already living in extreme poverty are forgotten about. Not taxing super is only going to benefit those that are already in a position to be able to pay super. Too bad for those who are struggling to buy bread and milk, eh.
I think I might cry. What has happened to Australia? When did we become so dog eat dog? When did we stop thinking communally and become so self absorbed? "well I'm alright Jack, I get a tax break"....So what! That tax break will be spent on health and education (things that ought to be free and readily availbale to all) anyway so it is hardly a bonus!

Sooo....anyone wanna buy a pram? A c'dore 7 seater wagon? The clothes off my back? Some small children? I cannot afford to feed my family. That is the reality of it.

**BJelly** · 10-05-2006 09:29

The foreign debt problem would also be helped if exporting was encouraged by better communications with the bush and better infrastructure (eg) roads and rail - so producers could get their products known and out into the world.

It's great that families are going to be helped by tax relief, more childcare places and superannuation is going to be simplified and no longer taxed on the way out ....

But there is little to help us deal with some pretty important problems like funding for tertiary education - we have a massive skills shortage; infrastructure like roads; research into sustainable energy and energy effeciency; public housing; public dental health; medicare funding so we get back to bulk billing . And it would have been great if they could have gotten rid of the tax on super when it's deposited and while it's sitting there.

We have a massive surplus of public money thanks to the current commodities boom (which will not last forever), it would have been nice to see it spent in investing in our future rather than the focus being on giving it back to individuals - which is nice, but IMO we get more bang for our buck if we spend it on services that support the community as a whole and planning for rainy days that will come - booms are always followed by corrections and they tend to hurt ordinary people most.

I don't expect the government to fix the petrol price problem - it's an international issue, not a national one. Although I do wish the excise (sp?) was used exclusively for roads rather being put back into general revenue.

I give the government a B- . From what I've heard, it's a better budget than I was expecting - but as usual it is mostly superficial feel good stuff, and it would have been nice to see some attention being paid to some major problems.

**carls** · 10-05-2006 09:33

Can someone expand on exactly how much better off families will be? I didnt watch the budget last night, but am interested in the partners income threshold being increased to $40,000. Is this info available on the centrelink website?

**M O P** · 10-05-2006 09:59

Originally Posted by kiwibird27

Petrol prices............. why is everyone complaining - New Zealand was up to $1.80 a litre - even with the exchange rate thats really high, and petrol in Holland is Euro 1.80, which is close to $3.00 a litre (could be slightly out it's late and I'm grumpy) and all i hear on the news is moaning about petrol prices and the price of living..........It's the cost of living - thats just how it is, we get payrises every year (even minimal ones) so living expenses have to rise eventually.
We live in Sydney and still haven't paid over 1.35 a litre!!!! Thats pretty good really

SORRY EVERYONE AM JUST A BIT GRUMPY TONIGHT!!!

Hi KiwiBird,
Hope you're feeling chirpier than last night. Sorry this is probably a bit off topic. I'm not attacking what you said at all, just pointing out why I'm complaining.
High fuel prices annoy me 'cause do to my grocery shopping I have a 300km round trip. I know it's our choice to live here but we are directly contributing to export sales for Australia by being here. We also had some bulk diesel delivered last week for $1.47!
As we're self employed we only get a pay rise when we can afford it. Being in the wool industry our profits are determined by what some one at an auction in Melbourne wants to pay for a bale of wool. In the meantime we still have to pay higher fuel prices and higher cost of living prices. This also means to sell sheep and wool our transport costs will rise. We can not factor this in to a market where we are dictated to.
Sorry again for getting off topic. I hope I didn't come across too whingey. I guess you could say we probably are in the wrong industry! But does this mean all wool and food producers should leave their farms behind?? Then where would we be??