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  1. #201
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    Quote Originally Posted by delirium View Post
    I doubt they would have popped it in the bank without taking it into consideration on the balance sheet?
    Of note. The NBN is not on the government's balance sheets. It is not part of their budget despite its enormous cost as it is deemed an 'asset'.

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    But if I sell my house, at the end of the financial year what I make is considered as taxable income which I pay tax on. It's a profit that is taken into account on my 'books' so to speak.

    I'm confused why the sale of telstra would not be taken into account? I'm also happy to be corrected but I don't see how 15.4 bill couldn't be part of the equation?

    Well I need to crash

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    It isn't an excuse, but I find it very amusing that you skim over the posts about the libs defecit, don't mention a word, but when it is labor you shout it to the roof tops. Talk about double standards.

    Quote Originally Posted by Father View Post
    I do love the excuses. But it was the 'recession we had to have'!

    Feel free to have a look at table D4 in http://www.budget.gov.au/2012-13/con...appendix_d.htm and point out the debt at the start and the end of the recession.

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  5. #204
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    Mod-pegasus is offline ADMINISTRATOR
    and all that the Lorax left here in this mess was a small pile of rocks with the one word...UNLESS
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    Quote Originally Posted by delirium View Post
    But if I sell my house, at the end of the financial year what I make is considered as taxable income which I pay tax on. It's a profit that is taken into account on my 'books' so to speak.

    I'm confused why the sale of telstra would not be taken into account? I'm also happy to be corrected but I don't see how 15.4 bill couldn't be part of the equation?

    Well I need to crash
    This is stuff that I find hard to understand too. I compare it to the NBN (The Telstra sale happened before I took much of an interest in budgets etc). I have never been able to fathom how the NBN costs aren't transparent in that they are not put forward in the budget publications as it is part of an asset. to me an asset is something that is saleable.

    As you put it, your house is an asset when you have it, the money goes into your coffers when you sell it. Of course if you have a mortgage on it, then the whole amount of money can't be put into your bank, as some of the sale amount goes back to the creditors (the bank) which helped you live in the house.

    Del, it seems you and I need more education on the idea of why selling (like Telstra) or buying (like the NBN) is not able to be placed in the budget.

    Anyone want to help us out?

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    In regards to the third instalment of the Telstra sale, it is included in the Budget figures - it was allocated to the Future Fund.

    Hence it doesn't impact on the surplus. The surplus is what it left over after everything is spent/allocated.

  7. #206
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    Busy-Bee is offline Offending people since before Del :D
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    I'm not an economist but the "deficit = bad, surplus = good" mantra is rather naive. Related opinion piece here.

    Do I get a response to my post at 177?

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    Quote Originally Posted by ~Bec~ View Post
    I'm not an economist but the "deficit = bad, surplus = good" mantra is rather naive. Related opinion piece here.

    Do I get a response to my post at 177?
    You're right Bec. DH, who deals with the world markets every day, explained this to me. But I'm just waking up and don't remember his wording well enough to repeat it here.

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    I agree Bec, after all, anyone who has a mortgage technically has a deficit, but said mortgage holders believe that they are in a good position to pay it back and keep living blah blah.

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  12. #209
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    Quote Originally Posted by beebs View Post
    I agree Bec, after all, anyone who has a mortgage technically has a deficit, but said mortgage holders believe that they are in a good position to pay it back and keep living blah blah.
    No. A mortgage is not a deficit. A mortgage is debt. The bank would not lend to you if you were running a deficit - ie. spending more money than you have, as you would not be able to pay back the debt.

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    Father your posts are nothing more than a right wing scare campaign;

    Even with more years of budget deficits than hoped for, Australia’s economy has performed better than almost all other rich countries. After 21 years without recession, the economy is more than 13% bigger than it was six years ago, before the global financial shock.


 

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