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The Forum > General Discussion > Inheritance tax

Inheritance tax

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SOCIALIST ENVY!
Posted by Josephus, Tuesday, 17 December 2013 4:40:06 PM
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individual - Do you mean the $2000,0000 plus per year indexed for life pension Juliar is getting?

For her incompetence she should be paying us not the other way around.
Posted by Philip S, Tuesday, 17 December 2013 4:43:27 PM
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Correction $200,000 plus per year.
Posted by Philip S, Tuesday, 17 December 2013 4:45:45 PM
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Nice to see you know all about farming Foyle. People really should learn to keep their mouths shut about things, when they know absolutely nothing about them.

A case study. A mate of mine, now supposed to be retired to Bribie Island from the Jandowae farm. 2600 acres of treeless plain country, some of the best farming land in Oz, IF IT RAINS. His son is5Th generation on the property in just over 100 years.

Started with the old one square mile, 640acres, which was enough back pre war, when wheat prices were high. The farm employed 6 men full time.

Today run by his son, with no labour but dad when called, [about half the time]. It is barely enough to make a living, without flogging it to death. Wheat prices are so low some years, it is not worth harvesting, without chick peas & cotton it could not support one family.

They are highly qualified farmers. One of the first to use zero till, & the first to use satnav controlled permanent laneway farming. Still the place can't afford to replace it's machinery. They are forced to use contract harvesters.

They were debt free for 25 years, but 20/30 years back a series of bad years saw them within one failed crop of loosing the place not once but twice. Keating's 17%+ interest rates did for many good farmers.

Far from having to limit their staff, today they can't afford any. Clapped out dad has to help weld the equally clapped out machinery back together, & drive a truck during planting & harvesting.

Where once a good harvest once every 4 years, made for profitable farming, today it is a minimum of one in two, & that may not do it, if a bumper year means low prices.

It is probably fair to say the father should be fined for cruelty to dumb animals, leaving the farm to his son. Only a very dumb son, with deep emotional attachment to the place would be silly enough to accept it.
Posted by Hasbeen, Tuesday, 17 December 2013 4:56:20 PM
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I now live on a pension and I do not need more money from the filthy rich. I also have worked hard all my life and feel no envy for those that inherit wealth. They have their problems that comes with money. I have no money problems. The thread sounds like socialist envy to me.
Posted by Josephus, Tuesday, 17 December 2013 4:56:30 PM
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Runner, that's why I suggested that all taxes raised through this scheme, MUST be used to support families, nothing else.

Actually Raw Mustard, my kids, now adults, will most likely inherit more than a half a million each, so I am willing to effect my own, for the benefit of all.

Josephus, no socialist envy from my end, as I will not be eligible for a pension as I should be a self funded retiree before I am sixty. If all goes to plan.

But seriously, do you honestly believe anyone is deserving of ten million just because their parents were filthy rich?

Now if they were a James Packer, and continued the family business, or farm, then that's fine, as I'm more referring to this who cash in after mum and dad pass on, or a rich uncle leaves a fortune.
Posted by rehctub, Tuesday, 17 December 2013 8:16:50 PM
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