atw: Re: OT: Umbrella companies & ATO plus ABS & hidden UE
- From: Terry D <morgan4four@xxxxxxxxxxxx>
- To: austechwriter@xxxxxxxxxxxxx
- Date: Fri, 10 Jun 2005 13:27:15 +1000 (EST)
Interesting news. Thanks Stewart.
The other thing I forgot, and nobody else has
mentioned, is the 80/20 rule. If you're working
through your own company or a management company, if
80% or more of your income in a financial year comes
from one source, it is deemed as personal income and
fully taxable at PAYG rates.
On the unemployment side of things, I reckon if we
wound the clock back 20 or 30 years and used those
rules for counting, the rate would be, as Steve
suggested, two to three (or seven!!) times higher. I
was just chatting with my workmate about how the
Japanese started to panic when their rate got as 'bad'
as 5%, and here we are celebrating--despite the way we
get such 'good' figures.
I think the gov't view is that we must have
unemployment otherwise the working poor will be able
to ask for more money and that'll cause inflation,
which will then affect the rich. To me it seems the
gov't thinks that inflation in property prices is OK,
but extending it to wages and daily necessities is
bad. That's good for those already with houses, but
bad for those wanting to get into the market. But, at
least they can still eat.
I'm with you, Steve, it's disgusting.
Cheers,
Terry
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