Australian conservative government loses election

[Belle]

The Morrison government has been unceremoniously dumped at the federal election. This is what happens when conservative governments move to the left and don't stand for anything. Fortunately for my son, a former Morrison adviser, he'd left politics just before the election to manage his wife's own campaign for the House of Representatives and she fell short of enough votes to take the seat from Labor, but increased the margin by nearly 5%. The seat is constantly being re-distributed by the electoral commission, making it difficult to win for a conservative. She's increased her profile in the area after fighting hard for the working people of the electorate, and this will translate into much more business for her legal practice.

My son can find lucrative employment in the private sector after 15 years in the parliament, the last as a right hand man to the Prime Minister, from his humble beginnings as a back-bencher right through to the role of PM nearly 4 years ago. I can say this now that the government is defeated; Morrison lacked judgment in these trying times, making many mistakes and some unfortunate choices - but he drew the utmost loyalty from my son (and vice versa) who never uttered a word against his boss in his 15 year tenure in politics. When gossip is the order of the day in parliament house I never heard a word of it from my son's lips. And neither did anybody else.

We have lost two great members of parliament; our Treasurer and another poised and classy conservative back-bencher with leadership qualities. Both have been taken by climate 'independents' in seats once considered conservative heartland. I was on a polling both yesterday and knew there was trouble afoot when the Greens candidate was getting so much attention; a silly, vacuous man who spoke (to me) uncoherent babble about the coal industry and mining jobs.

But the people have spoken and we expect that Labor, which is forming government on the lowest percentage of the vote in virtually our history, to have difficulty in 'cat herding', which will be a feature of our now-fractured parliament. Our country works well when its people align with either of the main parties behind historic ideologies, the fault-lines of which are framed by size of government, support for small business, extent of welfare and commitment to the working class. This latter will become the 'forgotten people' again, as the rich will have more influence over out polity than ever before in my lifetime. The idea that the Left aligns now behind the rich is one of the paradoxes of modern politics and it's the same in the USA.

With my experience and interest in politics over the last 50 years or so I have grave concerns about our society now, with so many vested-interests running the ship of state. I do note expect it to last beyond the next election in 3 years' time. In many ways this modern parliament and its hapless, inarticulate, gaff-ridden leader will resemble the Trump experiment in the USA. Johnson and his cronies are destined to go the same way if they don't stand for some actual values. Morrison learned a hard lesson; that you can't make everybody like you in politics.

[jserraglio]

Did ScoMo and his Coalition lose or loose?

[Belle]

Did ScoMo and his Coalition lose or loose?

It's 2.25am here and I'm tired from electioneering all day yesterday, and so is the spouse. We're now seriously moving into 'asset-protection' mode.

That man, the Green, I mentioned from the polling booth; he was ranting about how 'the people in mining here need to understand their industry is finished and they're going to have to transition out of coal to renewables and had just better get with the program'. It had that smug, authoritarian tone that we'll come to expect in our next term of government, which sends shivers down the spine. But, the people voted for it........

[jserraglio]

We're now seriously moving into 'asset-protection' mode.

There’s four of us.

[Belle]

We're now seriously moving into 'asset-protection' mode.

There’s four of us.

We were never prepared to pay for woke frolics!! Our children will get our (considerable) assets, not the government.

And please note; the Labor government will be formed with 70% of the people NOT voting for them!!! That's our screwy preferential voting system.

[jserraglio]

The govt’s tax policy incentivizes sheltering one’s wealth from taxation, and that in turn expands capital investment. So you and I are doing precisely what economic policy makers want us to do.
.

[Belle]

The govt’s tax policy incentivizes sheltering one’s wealth from taxation, and that in turn expands capital investment. So you and I are doing precisely what economic policy makers want us to do.
.

Not in Australia; if that were the case the middle class would be a whole lot richer.

One thing which is good about this new government; no more floods, fires or droughts and, by god, we'll be holding them to account!! When you promise the people you can take 'ak-shun' to fix the global climate you must make good on that promise EVERY WAY. We will be looking for tangible, measurable results.

For all you American voters:

We in Australia don't find conspiratorial excuses why one party wins and another loses; we invoke loser consent and get on with our lives knowing that in 3 short years (yes, our terms are too short) we can go to the polls again in a vigorous democracy. The Labor government has not at this stage (with still some votes to count) gained a working parliamentary majority; it's a MINORITY government, entirely dependent upon Greens and green 'independents'. Their leader specifically told the people before the election "no deals for government with greens" and yet he had the hide to label Scott Morrison a 'liar'!!

The last parliamentary majority in Australia was secured by Scott Morrison 3 years ago, with a majority of 2 and the one before that by Turnbull at 1 seat. The last parliamentary majority for the Labor Party was 15 years ago when Kevin Rudd was elected.

Scott Morrison righted the unsteady ship of state and the practice of revolving-door Prime Ministers ceased. We expect the ensuing 3 years to be a very rough ride indeed, but are already buying up the popcorn. The former leader of the opposition, who lost the last election - Bill Shorten - will see Albanese struck down if he so much as looks the wrong way!!

[jserraglio]

Tax Benefits Of A Family Trust

Estate planning allows a family to gain increased control, management, and access to their valuable assets. A Family Trust can be used to distribute tax exemptions and liabilities for specific asset classes. Here are the tax benefits of a Family Trust.

Assets for Family Benefits

The Family Trust allows grandparents, parents, and children to gain superior control over their assets. Federal, state, and local taxation rules create different levels of exemptions and liabilities adhering to each taxpayer. The Family Trust permits family members to allocate their exemptions and funds in different estate portfolios.

During his lifetime, a parent will increase his income and purchase stocks, bonds, and real estate. Over time, this estate grows as well as the tax liability. A Family Trust allows the wealthy parent to distribute his assets and tax liabilities to his beneficiaries.

Every year, the Internal Revenue Service has different exemption limits. The wealthy estate planner can determine how much he wants to give his beneficiaries based on said exemption limitations. For example, he can consider the “individual lifetime federal gift tax exemption” and allocate his gifts to the Family Trust to remain under the limit.

Married Couple Portability

A married couple can use the Family Trust to distribute gifts to each other or their children based on federal and state tax exemptions. Using a Family Trust (Credit Shelter or AB Trust), the parents can transfer millions of dollars in assets without paying gift tax. They can designate the beneficiaries one by one and change the allocations to suit any changing needs. The ability to combine marital exemptions is called “portability.”

[Holden Fourth]

Seventy six seats are required to form government in its own right and Labor only has 71 at the moment. Fortunately, the Greens only have three but that might be enough if Labor fall one or two short. Not an ideal situation for any government, being held to ransom by a group of individuals with decidedly flaky and unworkable ideas.

Then again there are ten seats currently held by Independents which really gladdens my heart. Labor working alongside them would be a far better alternative. These ten were elected because the people of the electorate decided that they've had enough of the big parties and want to give their say to people who have campaigned on local issues important to the electorate. I'm hoping that we are seeing the beginning of a growing trend.

Oh, and two prediction.s

1 Albanese won't see out his term and his place will be taken by none other than Penny Wong. For those of you who know her, this is something we should be very frightened of. If you want an indication of how Wong operates then the name Kimberley Kitching is worth researching.

2 Labor will go cap in hand back to the French and rescind the decision not to buy their crappy, out of date submarines.

You read it here first.

[Belle]

Tax Benefits Of A Family Trust

Estate planning allows a family to gain increased control, management, and access to their valuable assets. A Family Trust can be used to distribute tax exemptions and liabilities for specific asset classes. Here are the tax benefits of a Family Trust.

Assets for Family Benefits

The Family Trust allows grandparents, parents, and children to gain superior control over their assets. Federal, state, and local taxation rules create different levels of exemptions and liabilities adhering to each taxpayer. The Family Trust permits family members to allocate their exemptions and funds in different estate portfolios.

During his lifetime, a parent will increase his income and purchase stocks, bonds, and real estate. Over time, this estate grows as well as the tax liability. A Family Trust allows the wealthy parent to distribute his assets and tax liabilities to his beneficiaries.

Every year, the Internal Revenue Service has different exemption limits. The wealthy estate planner can determine how much he wants to give his beneficiaries based on said exemption limitations. For example, he can consider the “individual lifetime federal gift tax exemption” and allocate his gifts to the Family Trust to remain under the limit.

Married Couple Portability

A married couple can use the Family Trust to distribute gifts to each other or their children based on federal and state tax exemptions. Using a Family Trust (Credit Shelter or AB Trust), the parents can transfer millions of dollars in assets without paying gift tax. They can designate the beneficiaries one by one and change the allocations to suit any changing needs. The ability to combine marital exemptions is called “portability.”

This must be the case in the USA and is definitely not the case in Australia. We have to be very creative ourselves, with the help of skilled advisers.

[Belle]

Seventy six seats are required to form government in its own right and Labor only has 71 at the moment. Fortunately, the Greens only have three but that might be enough if Labor fall one or two short. Not an ideal situation for any government, being held to ransom by a group of individuals with decidedly flaky and unworkable ideas.

Then again there are ten seats currently held by Independents which really gladdens my heart. Labor working alongside them would be a far better alternative. These ten were elected because the people of the electorate decided that they've had enough of the big parties and want to give their say to people who have campaigned on local issues important to the electorate. I'm hoping that we are seeing the beginning of a growing trend.

Oh, and two prediction.s

1 Albanese won't see out his term and his place will be taken by none other than Penny Wong. For those of you who know her, this is something we should be very frightened of. If you want an indication of how Wong operates then the name Kimberley Kitching is worth researching.

2 Labor will go cap in hand back to the French and rescind the decision not to buy their crappy, out of date submarines.

You read it here first.

Interesting. I have a deep mistrust of the motivations of the so-called 'independents' bankrolled by a billionaire with renewable investments (like our PM Turnbull). Nothing like making sure your investments make good. I'm happy to say that Labor will get a workable majority and this is the best possible outcome for us, short of a Coalition win. This will mean they are not going to be beholden to wack-a-doodle Greens with their cave-man policies. We can be certain that in that cohort of Labor identity politics acolytes and rigid authoritarians there will be sensible centrists like those I've been mixing with during the last 2 weeks in our electorate. Good and decent people who despise woke politics, radical feminism and hard left grievance propaganda. For them family, work, community and infrastructure are the dominant concerns.

Since these independents and Labor made their chief election platform 'action' on climate change we need to hold them accountable with demonstrable and measurable outcomes of climate mitigation for our money. No more floods, fires and droughts. What's not to love?

Albanese's greatest threat will come from inside the Labor Party in the form of Bill Shorten. This man's ruthless behaviour is something my son witnessed at first hand during 15 years in the federal parliament. He knows how it all works.

And people should acknowledge the fact that PM Morrison stopped dead the practice of revolving-door Prime Ministers!!

[barney]

One of Scomo's problems was that this was the least conservative conservative government in Australian history. Scomo was certainly NOT a conservative; pragmatist is probably most accurate. As I've said before, Morrison had only one conviction, one he held with overwhelming priority, and that was the perceived good of Scott Morrison. This election was a colossal rejection of him personally - so many voters have said they liked their local MP but loathed him.

I have some fears about the incoming government and some of its woke agenda. In NZ they have just passed a law calling breast-feeding illegal on infant products; it must be chest-feeding, so all those lactating men don't feel left out. I expect a wave of that sort of stuff.

But we've had a pro-business government for nine years, with corporate profits at record levels. It's a good time for a pro-people government. As Labor talked about improving Medicare and providing health in rural areas, the Libs said they would make people in detention centres pay for their incarceration - $450 a day. A lot of these are penniless refugees. It was a typically brutal and callous policy by deeply unpleasant people - yet they expected it to win them votes. A caller on radio a few seconds ago said the Liberals had a decency deficit and the voters reacted against that, and I agree entirely.

[Belle]

One of Scomo's problems was that this was the least conservative conservative government in Australian history. Scomo was certainly NOT a conservative; pragmatist is probably most accurate. As I've said before, Morrison had only one conviction, one he held with overwhelming priority, and that was the perceived good of Scott Morrison. This election was a colossal rejection of him personally - so many voters have said they liked their local MP but loathed him.

I have some fears about the incoming government and some of its woke agenda. In NZ they have just passed a law calling breast-feeding illegal on infant products; it must be chest-feeding, so all those lactating men don't feel left out. I expect a wave of that sort of stuff.

But we've had a pro-business government for nine years, with corporate profits at record levels. It's a good time for a pro-people government. As Labor talked about improving Medicare and providing health in rural areas, the Libs said they would make people in detention centres pay for their incarceration - $450 a day. A lot of these are penniless refugees. It was a typically brutal and callous policy by deeply unpleasant people - yet they expected it to win them votes. A caller on radio a few seconds ago said the Liberals had a decency deficit and the voters reacted against that, and I agree entirely.

Totally disagree with all of this. Emotion in spades and not to much in the way of fact. The new 'emot-ocracy', coined by Ayaan Hirsi Ali. "The thin gruel of empathy politics" so well defined by Ai and discussed by former Deputy PM, John Anderson. "Lack of decency"? Would that be the decency that would see people with a job of work, a secure future, the freedom to teach their own children what to believe rather than outsource it to the state, or to allow them the freedom of choice to their own beliefs? Would it be anything like that?

We wish the new government well because loser consent is alive and well in our family.

Action on climate change as an election mandate: we have every right to expect measurable outcomes on the mitigation of global temperatures as the 'bang' for our buck. And we'll be expecting this. As for 'record' corporate profits; yes, it was a concern that 'job keeper' went to those companies, but you haven't been paying attention Barney; conservatives have zero in common with the 'wokes' of the corporate world and their left-wing apparatchiks. Typical of a lefty to be embittered about 'record profits'; it's a fulcrum on the envy lever.

I could write a whole lot more but I fear it would only end up in "The Age" - the 'grief-sheet' media of choice for the post-materialist bien pensant, light years away from ordinary Australian people, their aspirations and goals.