posted by devonwhittle on May 30, 2008
Middle/Upper-class welfare in the Swan budget
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So the government’s setting up a scheme whereby first home buyers get extra money from the government if they start saving their money for a deposit. Sounds good. Problem is the government will give you more for your dollar the more you earn. So if you earn under $80,000 you are eligble for up to $750, if you earn more than $180,000 you’ll get $1,500. What the?!
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Random African
“So if you earn under $80,000 you are eligble for up to $750, if you earn more than $180,000 you’ll get $1,500.”
That’s not more for your dollar. If you earn $80,000 you get up to 0.9 % and if you earn more than $180,000 you get 0.8 %. At least according to those figures.
I actually followed the link and it’s less confusing. The issue is that you get those different income-dependant figures for the same amount of savings !
WHOA.
May 31st, 2008
devonwhittle
Yep, sorry for not making it clearer in the post. Thanks for the clarification.
May 31st, 2008
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