Certified Legendary Thread Covid, Life, UFOs, Food, & Wordle :(

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Crickey, I wish had your clients
At this point in time moving forward our major strategic initiative is to redirect our resources in a focussed manner towards creating a more sustainable and resilient outlook that will underpin our projections into the medium term as we progress towards our vision in the longer term....

PS - this is a global initiative
 
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VP, you've expanded your input across several topics of interest whilst you've embraced this board's dynamic.

In this thread you've evolved to become a motivated self-starter that works unsupervised.

Damn, I'm impressed!
 
You can never have too much of The Shovel.

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This proposed legislation looks like it has had about as much thought put into it as Rudd's Pink Batts. As currently contemplated, tax would be payable on unrealised gains on real property. So a self managed fund records an uptick in book value of a real asset? They need to produce 20% of that increase in tax. It shouldn't end up that way, but that is what the clowns are currently proposing.
 
VP, you've expanded your input across several topics of interest whilst you've embraced this board's dynamic.
In this thread you've evolved to become a motivated self-starter that works unsupervised.
Damn, I'm impressed!
The thread has also evolved from a conglomeration of generalist bulls#t requiring daily supervision to a more focussed potpourri of intense bullsh#t without the need for guiding intervention
 
The thread has also evolved from a conglomeration of generalist bulls#t requiring daily supervision to a more focussed potpourri of intense bullsh#t without the need for guiding intervention

We've empowered each poster to seek their own truth and supported them to express it without fear of judgement.

Except for those who like pineapple on pizza; there is no redemption for those; only hell.
 
We've empowered each poster to seek their own truth and supported them to express it without fear of judgement.
Except for those who like pineapple on pizza; there is no redemption for those; only hell.
Pineapples didn't enter my mind - now I've gone retro to shepherd's' pie etc
 
VP, you've expanded your input across several topics of interest whilst you've embraced this board's dynamic.

In this thread you've evolved to become a motivated self-starter that works unsupervised.

Damn, I'm impressed!

This reads like every school report I ever had…

That and ‘Vicky Park talks too much and distracts her classmates’.😁
 
This proposed legislation looks like it has had about as much thought put into it as Rudd's Pink Batts. As currently contemplated, tax would be payable on unrealised gains on real property. So a self managed fund records an uptick in book value of a real asset? They need to produce 20% of that increase in tax. It shouldn't end up that way, but that is what the clowns are currently proposing.

It’s not yet legislation, and can be voted on at the next election.
 

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Until they start putting liver on a Pizza everything else is acceptable.

This could be true if enough illegal substances have been consumed.
 
This proposed legislation looks like it has had about as much thought put into it as Rudd's Pink Batts. As currently contemplated, tax would be payable on unrealised gains on real property. So a self managed fund records an uptick in book value of a real asset? They need to produce 20% of that increase in tax. It shouldn't end up that way, but that is what the clowns are currently proposing.

Shows you how much the devil is in the detail.

I would support, in principle an increased tax on earnings generated from superfunds worth > 3 mil AUD.

If unrealised gains are considered earnings they can GGF.
 
This proposed legislation looks like it has had about as much thought put into it as Rudd's Pink Batts. As currently contemplated, tax would be payable on unrealised gains on real property. So a self managed fund records an uptick in book value of a real asset? They need to produce 20% of that increase in tax. It shouldn't end up that way, but that is what the clowns are currently proposing.
I thought it was just that future contributions will be taxed at 30%, rather than the current 15% for those with a large super account? Eg. A lesser tax break than they currently get?
 
Shows you how much the devil is in the detail.

I would support, in principle an increased tax on earnings generated from superfunds worth > 3 mil AUD.

If unrealised gains are considered earnings they can GGF.
Isn't it just a reduction in the tax concession that you get for super contributions?
 
Shows you how much the devil is in the detail.

I would support, in principle an increased tax on earnings generated from superfunds worth > 3 mil AUD.

If unrealised gains are considered earnings they can GGF.

Yeah I don’t have a problem with the idea of it. Costello’s 0% tax was ridiculous. It’s just the detail and now added complexity which is the problem.

Transfer balance caps are simple, limiting pension balances. But now we are going to get a progressive tax system embedded into super - where individuals can have holdings in smsfs and public offer funds. Messy.


On iPhone using BigFooty.com mobile app
 
Isn't it just a reduction in the tax concession that you get for super contributions?

That's what my impression of it was until Sidey chimed in.
 
Isn't it just a reduction in the tax concession that you get for super contributions?

Absolutely not. Very different. This is about earnings (including unrealised gains) in super. Whilst the initial reaction is generally, “yeah, let’s not make it so generous for high super balances”, the proposed method is pretty rough atm.

And how it affects the defined benefit accounts is still a bit uncertain.

The proposed lack of indexation is also pretty crazy and very out of line with the rest of the taxation system.


On iPhone using BigFooty.com mobile app
 
Shows you how much the devil is in the detail.
I would support, in principle an increased tax on earnings generated from superfunds worth > 3 mil AUD.
If unrealised gains are considered earnings they can GGF.
Can't tax the imagination or wishful thinking

Shooting Star Snow GIF by JJs Manöverschluck
 
Absolutely not. Very different. This is about earnings (including unrealised gains) in super. Whilst the initial reaction is generally, “yeah, let’s not make it so generous for high super balances”, the proposed method is pretty rough atm.


On iPhone using BigFooty.com mobile app
Is it different to the way the current 15% tax is done?
 
Isn't it just a reduction in the tax concession that you get for super contributions?
If this lot of politicians want to make superannuation more equitable etc they might start with their own scheme which is extremely generous

efa
 
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