A few things have caught my eye.
tobaccy tax
The critics have lined up and are saying the g\overnment must cut the tobacco excise to reduce the blackmarket in this good. hold on Surely black market tobacco will always be cheaper then legal tobacco. That's right no matter how much you cut the escise black market tobacco will always be cheaper.
Notice how this argument completely misses out on the supply side. A lot of stores have opened up selling black market tobacco amongst other things. It reminds somewhat of my youth where videeo stores would sell black market porno videos.
Death taxes
This is quite a stretch. critics are alleging that under a trust a kid or kiddies will be taxed if both parents die BEFORE they 'come of age'. Now to be fair I am all in favour of death duties but this isn't that. This is in the extremely unusual situation of both parents dying the children would not get all the money the parents have left. My understanding this occurs if there is no trust anyway as children can only have limited income until they are taxed.
Negative gearing
Negative gearing where interest payments are higher than the rent received only encourages speculation not investment. An investor would require positive gearing. Read Saul Eslake.
Just to end on a related subject Mark the Graph on showing the budget in pictures
Yikes how could I forget Immigration.
Both the LNP and one nation want immigration slashed. Okay first hit are universities. Well they say Australian tertiary institutions should only be for australians. Okay that means more payments to them for the government because aussie students unlike overseas students are NOT full fee paying students. This is a lot of money.
Most industries in regional australia are reliant on immigrants and/or people with tourists visas (backpackers for example). The building trade needs immigrants to continue to thrive. Count them out and it becomes harder to build houses. Immigrants also bring in more tax revenue than any take in benefits.
Saul Eslake again on a lot
