Scotty T
Walks the walk
That Scully video though, worth all the bullshit IMO
Plastic bags, climate change, renewable energy,
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Scotty T
Walks the walk
The wealthiest superhavers are about to cop it right in the change jar! Will you be slugged? | First Dog on the Moon
I’m afraid we can’t afford the caviar fountain at your iguana’s birthday party this year Daphne
www.theguardian.com
The tuber has already said the lnp will roll this back. Cocks. Under shortbread Bill the cap I recall was going to be $1.6M for individuals / $2.0M for couples. This is much betterer and not unreasonable. Now take the axe to neg gearing for multi properties.
ozzybmx
taking a shit with my boobs out
I think it still is. Tax free up to 1.6m-1.7m and 15% there after. The 30% on over 3m is purely targeting the wealthy.
All fluff, would bet it stays. Was ScoMo not trying to go there but didn't have the balls.
Scotty T
Walks the walk
One has to earn good money all their working life to stack a million away in super. They likely own well over a million in other assets too, home, negative geared properties, share protfolio that's not super, collection of 90's Klein, Yeti and Fat Chance MTB's in mint condition etc. Strangely, two of those investments that are only available to well off people have tax breaks too! Is this some kind of rort?!?!
Anyone with over a million in super doesn't need a tax break on the profit they make from it, this is upper class welfare. Over a million, pay some tax. Over 3 million pay (much) more. It's simple, and fairer, even though it's still not fair to people who have not had a stable well paid career with ability to stack away extra super, buy invesment properties, rare collectible MTB's and so forth.
If you didn't catch this article last time, it is worth a read.
Alan Kohler said:
RBA defence of interest-rates highlights the truth about inequality
The first thing is that inequality is worsened by the responses to both low inflation and high inflation; it’s a lose/lose.
beeb
Dr. Beebenson, PhD HA, ST, Offset (hons)
Don't forgot inter-generational wealth! Some people are born into more money than you or I will ever have...One has to earn good money all their working life to stack a million away in super. They likely own well over a million in other assets too, home, negative geared properties, share protfolio that's not super, collection of 90's Klein, Yeti and Fat Chance MTB's in mint condition etc. Strangely, two of those investments that are only available to well off people have tax breaks too! Is this some kind of rort?!?!
Anyone with over a million in super doesn't need a tax break on the profit they make from it, this is upper class welfare. Over a million, pay some tax. Over 3 million pay (much) more. It's simple, and fairer, even though it's still not fair to people who have not had a stable well paid career with ability to stack away extra super, buy invesment properties, rare collectible MTB's and so forth.
If you didn't catch this article last time, it is worth a read.
RBA defence of interest-rates highlights the truth about inequality
The first thing is that inequality is worsened by the responses to both low inflation and high inflation; it’s a lose/lose.thenewdaily.com.au
I have $50!
beeb
Dr. Beebenson, PhD HA, ST, Offset (hons)
The void behind your couch is more lavishly appointed than mine. Mine still has a moderate sized black hole stored in it.
A mate who will never have anything like $1M in super or other assets excepting his fully owned unit was condemning the policy to tax the $3M. WTF? Are you going to rob a bank to get another $2.5M?????????????????????????????????????????????
Haakon
has an accommodating arse
I really dont get how the hard right managed to convince people they had any interest in the working class, let alone getting them to applaud welfare for the rich. Its a kind of genius you sort have to respect...
Scotty T
Walks the walk
Flow-Rider
Burner
Most working classes know they're getting reamed by the rich and think the same, it's just most of them aren't in the position to say it out loud. Can you imagine someone going into an office that can barely afford to pay for petrol to get to work and asking for a pay rise after their employer leases a brand new car every year, only to be told that the business can't afford it? The working class is trapped, if the govt was pro helping the poor this would never happen. It's like the housing crises, there's nothing stopping the government from loaning money from central banks as does the RBA.
It is a shit sandwich. I remember talking with a couple of guys I know who are mechanics and when we looked at their long term prospects it was scary if they stayed at a dealership on $35 an hour.
There are heaps of calculators out there so this is just somevery rough basic numbers but based on the salary 50% of qlders* are on at $105,000 pa and a family of 4 with wife no longer working and hubby at 35 years of age... They would on average have $60k in super total by now and living costs without school fees, car payments, holidays to outer Mongolia etc are on average $4,961 per month. Chuck a few grand out of the not much left over into super too. Give old mate a generous 5% per annum salary increase to age 67 and his super makes 11% pa then they can expect to accrue less than $750k in super. He aint getting a super balance of $3M. And those are pretty decent numbers, my mechanic mates could only dream of being on a 6 figure salary...
*some website that hambo provided for me. Could be shite.
Flow-Rider
Burner
Most of my super has evaporated, and in the early days it was swallowed up by fees. I was unable to amalgamate it due to all the hassles and it wasn't legal to force employers to pay it into the existing one I already had. I haven't had a look at the latest value of it, but a few years ago when I was 45 there wasn't even 40K in there.
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Haakon
has an accommodating arse
yeah im pretty fucked too. no decent job until I was well into my 30s. Have been making the maximum salary sacrificed extra contributions for a few years, should have started that many years before! Should have bought a house 10+ years ago too...
Kirsty will inherit half of a big block (with a crappy 70s house on it) in Mount Waverley in the next 10 years or so, so that will help us. But I am not expecting anything above a very basic lifestyle in retirement. Which frankly is fine - I grew up dirt poor, I know how to be happy with not much.
wesdadude
ウェスド アドゥーデ
I just ran some quick numbers, I'm expecting to have well over $3M in super before I retire. I'm OK with this change and would like more aggressive tax reform all round. I'm glad I can afford to make the full salary sacrifice and was doing so by my mid-twenties.
It's a shame we don't properly value and contribute to super in this country. You could see it in all the permission to steal from your future during the pandemic.
It's a shame we don't properly value and contribute to super in this country. You could see it in all the permission to steal from your future during the pandemic.
Flow-Rider
Burner
Depending on how you age, you might need extra money to have any quality of life. I've got a few investments to fall back on but the fact is some fatcat ended up with my hard-earned money.
Haakon
has an accommodating arse
was
So glad the LNP is worried about tax breaks for the wealthy…
I will at least have somewhere to live without rent. It might be the bush block my parents are on and that will need a house built on it, but again I can do that if I have to. And I know how to live cheaply… Either way there is not much I can do about it now at nearly 50. If I’m lucky I’ll be mortgage free by retirement…
So glad the LNP is worried about tax breaks for the wealthy…
indica
Serial flasher
Someone I know retired with $250,000 in super and is now 75 with $250,000 in super and quite comfortable. Own a home is the big one.
Do you not feel that is kinda pointless or is the idea to pass it on?
Anyone wants a laugh read the whirlpool super balance thread. Some fucking well off cunts there