Re: The Australian Federal Election 2010 Thread

[bodyline]

[snigger]

He's probably sipping a Apple Martini with Bob Carr right now.

Whilst playing "hide the sausage".

[bodyline]

For all the Libs out there -

I'd like to personally thank

French CJ and Gummow, Hayne, Heydon and Crennan JJ for again defending us from that d1ck of a Commissioner.

http://www.austlii.edu.au/au/cases/cth/high_ct/2010/10.html

[JGK]

Aye - an outstanding result for the good guys.

Still, the current HC has mostly been the Commissioner's friend to date.

[bodyline]

After PS LA 2009/7 and TR2009/D8 the qunt should be immediately dismissed!

[horace]

an appalling decision...trusts should be outlawed

[horace]

a bloke I know who has a very serious dose of the smarts has an interesting hobby which is to provide the ATO and the govt with expert advice on loopholes he has found in tax law that need to be closed...he does this gratis!!

[bodyline]

an appalling decision...trusts should be outlawed

So - you're going to therefore outlaw wills (testamentary trust), superannuation (which is a trust), charities (charitable trust) etc.

[bodyline]

a bloke I know who has a very serious dose of the smarts has an interesting hobby which is to provide the ATO and the govt with expert advice on loopholes he has found in tax law that need to be closed...he does this gratis!!

I worried - not! You close one loophole - I'll find another. If the law was clearcut - we wouldn't have courts.

[embee]

an appalling decision...trusts should be outlawed

So - you're going to therefore outlaw wills (testamentary trust), superannuation (which is a trust), charities (charitable trust) etc.

Comrade Horrie would have the State take responsibility for all that

[Zat]

For all the Libs out there -

I'd like to personally thank

French CJ and Gummow, Hayne, Heydon and Crennan JJ for again defending us from that d1ck of a Commissioner.

http://www.austlii.edu.au/au/cases/cth/high_ct/2010/10.html

So you're Phillip Bamford?

[horace]

an appalling decision...trusts should be outlawed

So - you're going to therefore outlaw wills (testamentary trust), superannuation (which is a trust), charities (charitable trust) etc.

I would reintroduce a death duties/probate tax if I was Commissar for State Revenue (as well as Internal Security)...don't need charities if education and the State do their job.

[bodyline]

For all the Libs out there -

I'd like to personally thank

French CJ and Gummow, Hayne, Heydon and Crennan JJ for again defending us from that d1ck of a Commissioner.

http://www.austlii.edu.au/au/cases/cth/high_ct/2010/10.html

So you're Phillip Bamford?

Nup. Just a fan of trusts.

[horace]

a favoured device of Aust. kulaks of the national party persuasion

[bodyline]

an appalling decision...trusts should be outlawed

So - you're going to therefore outlaw wills (testamentary trust), superannuation (which is a trust), charities (charitable trust) etc.

I would reintroduce a death duties/probate tax if I was Commissar for State Revenue (as well as Internal Security)...don't need charities if education and the State do their job.

Watch everyone flee Victoria then - not even the lefties would consider that sort of economic regression.

[horace]

would introduce it internationally...inherited wealth is obscene (and should not be heard)

[bodyline]

a favoured device of Aust. kulaks of the national party persuasion

Horrie - even you can have one for $197.

Horrie's Trust

[horace]

gggrrr....should be no exemption for cap gains tax either...look I admit some of my views on tax are a little extreme...tho I still would tax cg on the family home...would drive down the crazy overinvestment and overconsumption of housing in Oz and channel investment into more productive areas

[skully]

See. This thread is a classic example why Bails won't die.

Many good points, some sh!t, all made with fervor.

[JGK]

After PS LA 2009/7 and TR2009/D8 the qunt should be immediately dismissed!

What's more likely to happen is that the qunt will go crying to Treasury saying that the case has the implications to have billions of dollars of revenue leakage and that they should change the law.

Qunt.

[horace]

hehehehe...jgk is correct

[bodyline]

I suspect they'll try to introduce entity taxation.

[JGK]

hehehehe...jgk is correct

I should probably add that the thing in favour of the status quo is that just about every parliamentarian probably already organises their affairs using family and closely held trusts.

[bodyline]

hehehehe...jgk is correct

I should probably add that the thing in favour of the status quo is that just about every parliamentarian probably already organises their affairs using family and closely held trusts.

With the number 1 ticket holders being Terese and Kevvy hiding their squillions.

[horace]

I would impound those squillions

[bodyline]

From SMh - Turbull pulls up stumps

What a s*ftc*ck!


Malcolm Turnbull is a political skyrocket, the firework that zooms to a great height in a great hurry then flares out and falls back to earth charred and burnt.

Now that he has announced that a brief two terms will be the full extent of his time in Federal Parliament, we have to wonder - what was it all for?

He is enormously intelligent, knowledgeable and energetic. These talents plus his celebrity status won him one of the dream runs in Australian politics.

John Howard installed him in a cabinet post in his first term in Parliament, a privilege Howard accorded to no others in nearly 12 years in power.

Turnbull was elected leader of his party after a mere four years.

So how could it have gone so badly for him?

Paul Keating's assessment of Turnbull is that he is ''brilliant, fearless, but he has no judgment''.

And it was his judgment that was questioned when he made his career-defining decision to hit the political nuclear button of demanding that the Prime Minister resign, based on nothing more than a fake email concocted by a delusional public servant.

He was a politician in an ill-judged hurry.

Today one of his Liberal colleagues demanded to know what the rush was: ''Malcolm leaves bodies on the field – he tore down Peter King to get his seat of Wentworth, he tore down Brendan Nelson to get the leadership – and for what? To stay for only two terms? What did he believe in? What did he stand for?''

Turnbull’s resignation announcement says: ''I have been proud to defend the principles of freedom, opportunity and enterprise.''

Yet his record of achievement on these points is scant.

True, as Opposition Leader he did provide a searching scrutiny of the Rudd Government's response to the global financial crisis. And while he endorsed most of Rudd's measures, he provided some intelligent differentiation.

Under his leadership, the Coalition opposed Rudd's proposed $4 billion emergency credit fund for property developers, the so-called Ruddbank, which was stillborn.

And Turnbull decided to oppose Rudd’s second economic stimulus package, arguing that the $42 billion in spending was too much and urging a package only half as big. Rudd proceeded regardless.

But Turnbull's main acts of creation, rather than opposition, were environmental. With Howard, he created the Murray-Darling rescue plan, which was foiled, however, by the states. His main political accomplishment was to work constructively with Rudd to craft an emissions trading scheme that would have started to wean Australia off cheap carbon.

It was, of course, his inability to carry his own party with him on this that brought forth Tony Abbott’s successful leadership challenge.

It was the end of Turnbull’s leadership and, we now know, of his career in Federal politics.

Turnbull leaves the party in Tony Abbott's hands, and effectively bequests its future leadership to Joe Hockey, the only ready alternative to Abbott.

Turnbull's resignation should be a prick to the conscience of the Liberal Party's overstayers – Phillip Ruddock, Bronwyn Bishop, Bill Heffernan, Wilson Tuckey – but also a cautionary tale to talented people in a hurry.

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