PM on bandwagon to tune of $560,000

Posted to The Age (28/7/2013) on 28/7/2013 at 12:00 PM
Commenting on "PM on bandwagon to tune of $560,000"
http://www.theage.com.au/national/pm-on-bandwagon-to-tune-of-560000-20130727-2qrmb.html

It is not Kevin Rudd's money. The money comes from the taxpayers' pockets. If you are a taxpayer, then you also contribute towards it.

Don't forget that the taxes are used for many other things which need critical attention. Kevin Rudd has been splashing around and wasted hundreds of thousands of dollars of taxpayers' money since he rose from his death throne. Kevin Rudd has been on television advertisement promoting not for the good of Australia but his own image hoping to win some more brownie points.

Where is Kevin Rudd going to pay for all his promises? The bigger the financial blackhole he creates, the deeper the taxpayers have to dig into the hip pockets. Kevin Rudd is not a money tree grower, and even if there is a money tree around, his s*** promise cannot make it grow.

All the disguises in promoting the government's programs and achievement including jetsetting to various parts of Australia, appearance on television, comedy on YouTube are not giving us, the ordinary Australians, a Fair Go to help build a better and more prosperous Australia. Kevin Rudd is a joke, a clown and the emperor in his new clothes.

Grow up, Kevin. You are not Peter Pan!

The ugly side of online shopping (Part 2 of 2 Parts)

Posted to The Age (11/4/2012) on 11/4/2012 at 9:06 PM
Commenting on "The ugly side of online shopping"
http://www.canberratimes.com.au/act-news/the-ugly-side-of-online-shopping-20120411-1wq5q.html

The new Australian Consumer Laws are not helping the small business operators, especially on refund and return of items. Many unscrupulous "purchasers" have been misusing such loophole which is a better option than hiring the item. Items are “purchased” but returned to the retailers after the intended uses are satisfied, e.g. a HD TV for football final, expensive gown or hat for a special occasion, an expensive camera to take the wedding photos, etc.

The Federal Labor Government is stupid to the highest degree by not taxing many overseas online purchases. These should incur not only the GST, but also an additional tax called the loss revenue tax. When a retail shop closes its door, not only there is directly loss of employment for the staff, but also loss of rental for the premises owner, utility usage, vibrancy of the surrounding business precinct, unemployed staff’s ability to spend which sets another chain reaction, etc.

End of Part 2 of 2

Tax may prove to be a toxic win for PM

Posted to Adelaide Now (7/11/2011) on 8/11/2011 at 3:01 AM
Commenting on "Tax may prove to be a toxic win for PM"
http://www.adelaidenow.com.au/news/national/tax-may-prove-to-be-a-toxic-win-for-pm/story-e6frea8c-1226188205766

Doing all the wrong things right are not right by the people of Australia.

Tax boss wants $300,000 pay rise

Posted to The Age (20/10/2011) on 20/10/2011 at 12:56 PM
Commenting on "Tax boss wants $300,000 pay rise"
http://www.theage.com.au/national/tax-boss-wants-300000-pay-rise-20111020-1mang.html

Tolerance has a limit! Every day we read or listen to the news that many bureaucrats, CEO's & sports players are earning mega bucks and yet ordinary Australians are tightening their belts and even losing their jobs.

Some top earners are hopeless, useless and heartless to say the least, making losses or cutting staff year after year. Are Australians too naive and too apathetic to allow this to go on unchecked?

We may not have any experience about revolution, except the Eureka Stockade; but many migrants had lived through and even participated in revolutions before they came to Australia. If wealth gaps get bigger and inequality continues to propagate, street marches and noisy demonstrations will become daily activities.

I hope I never see the day when Australia goes down that path. However, the world is getting too “small” and information can be disseminated at lightning speed. What we have been witnessing in many countries recently are precursor of what can happen in Australia if nothing is done to correct imbalance sooner.

Don't get stung by tax myths

Posted to news.com.au (30/5/2011) on 31/5/2011 at 2:32 AM
Commenting on "Don't get stung by tax myths"
http://www.news.com.au/money/tax-time/the-great-tax-myths/story-fn8qmzek-1226065548422

This is one of the best articles I have ever read.

I would like to add that property investors have to realise if they buy the property when the market is low and you can get a good capital gain in future, then they are smart. If they buy it at the peak and the interest rate is on the rise, then the maintenance or owner’s corporation, land tax, rates and charges will swallow up the rental income resulting in negative return.

One must not expect 100% rental occupancy for the property; otherwise the bank manager will not be happy when they do not receive repayment on time.

In regards to negative gearing, put in simple language, every successful company or business wants to have a healthy income statement or balance sheet; making a loss to offset tax payment just defies good business practice!

Due to privacy legal reasons, no one really knows how many property auctions in recent times are mortgagee auctions, and how many real estate agents are honest enough to tell you have just bought an over-priced property! What is happening now is just history repeating itself.

Just be careful property investors, there are many traps out there!

Read more:
SinFongChanRealEstate.blogspot.com