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
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?
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.
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.
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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