Smoke and mirrors... Inflation has been a huge hidden tax that people don't realise has artificially helped reduce government dept (1 dollar 4/5 years ago is only worth something like ~$0.60 now, so inflation has effectively reduced the governments reckless spending during the pandemic by something like 30-40%... that on paper is a win for the government and loss for the consumers/tax payers). The hidden tax of inflation on top of high commodity prices has given the government cash to splash which could have been used to actually meaningfully reduce tax's (stage 3 tax cut in my opinion is just a tiny hand out to win votes relative to actual inflation, commodity royalties etc.) which means that 90% of Australian are now far worse of. Even if inflation hit 0% tomorrow we are still paying higher prices for everything. Wage growth is no where near keeping up. Housing is top 3 most unaffordable in the WORLD. None of this is meaningfully addressed in the budget. The budget barely puts a dint in the housing and immigration disaster unfolding. I cant help but feel sorry for the younger generations.
Youve confirmed what me and a mate are talking about, looks like the instant asset write-off wont get through parliament in time for the 2023-2024 FY and i cant find what the threshold is by default? No info anywhere including on the ATO website. Thoughts?
Very concise and simple update. If governments could make inflation zero right now, people will still be under the pump because prices have already reached all time highs, I don’t think prices will fall back to anywhere near previous periods, how do we fix that?
Yeah I think that is the issue, prices are already high and I don't see them dropping. Especially in the housing market, the prices are still strong which must still indicate strong demand, even at those prices.
What do you think of this years Budget?
Smoke and mirrors...
Inflation has been a huge hidden tax that people don't realise has artificially helped reduce government dept (1 dollar 4/5 years ago is only worth something like ~$0.60 now, so inflation has effectively reduced the governments reckless spending during the pandemic by something like 30-40%... that on paper is a win for the government and loss for the consumers/tax payers).
The hidden tax of inflation on top of high commodity prices has given the government cash to splash which could have been used to actually meaningfully reduce tax's (stage 3 tax cut in my opinion is just a tiny hand out to win votes relative to actual inflation, commodity royalties etc.) which means that 90% of Australian are now far worse of.
Even if inflation hit 0% tomorrow we are still paying higher prices for everything. Wage growth is no where near keeping up. Housing is top 3 most unaffordable in the WORLD. None of this is meaningfully addressed in the budget.
The budget barely puts a dint in the housing and immigration disaster unfolding. I cant help but feel sorry for the younger generations.
@@tom6549 Lots of great points there!
Thanks for this super fast update tonight 👍
No worries!
Simple and well explained - Thanks Ethan :)
No worries!
Youve confirmed what me and a mate are talking about, looks like the instant asset write-off wont get through parliament in time for the 2023-2024 FY and i cant find what the threshold is by default? No info anywhere including on the ATO website. Thoughts?
I really hope it does but this is government..
Only $1000 is the pre extension limit.
@@EthanRooshock wow thats low! Id be shocked if they passed it in the next 10 days.
@@stevens8744 It just keeps going back and forth in parliament..
Very concise and simple update. If governments could make inflation zero right now, people will still be under the pump because prices have already reached all time highs, I don’t think prices will fall back to anywhere near previous periods, how do we fix that?
Yeah I think that is the issue, prices are already high and I don't see them dropping. Especially in the housing market, the prices are still strong which must still indicate strong demand, even at those prices.
If they could back date the hecs debt but not change the tax deduction instantaneously
Yeah to be honest, I'm surprised they even backdated that!
🙏🙏🙏🙏🙏⭐️⭐️⭐️⭐️⭐️
Thanks!