Wayne Swan is eyeing your super

[Dry Rot]

Why is anyone's confidence to be undermined by a fair and sensible measure? Take in no money? Are you assuming that because some unscrupulous/ avaricious people try and rort the system that we just keep status quo?
That is the same thinking that because some unscrupulous drug cheats can beat the system, we just let them go for it?

Why did these tools wait till their last budget for such a "scrupulous" measure?

 

[Max zero]

How odd that those with a "social conscience" tend out to outsource the funding aspect to others.

Similiar attitude with regards to those who have a "evironmental conscience."

"This is a really good idea, especially since someone else is paying for it!"

 

[romeoh]

How is legal tax minimisation measures cheating? If it was cheating the ATO would be all over them like a rash. Setting up a trust or keeping your super overseas is fairly simple.

It undermines confidence because it shows people that your retirement income can be hit at any time simply if the government of the day feels like it.

If you live and work here you should be prepared to pay fair and equitable taxes. If you make plenty of money, you should be prepared to pay plenty of taxes. And super structures should support that concept too. That is how it works, or should work. Just because one can legally minimise tax and it is 'simple' to do, doesn't mean it is appropriate behaviour and some of that is being addressed.
Not sure that the average person needs feel nervous about govt's hitting their super. Gov't are generally trying their best to make their citizens comfortable. Surely this 'thin edge of the wedge' argument is last refuge of the scoundrel stuff?

 

[Refried Noodle]

I not ****ing thick and I understand maths.

Pity about the Murdoch press and their readers.

Lots of comments on news.com.au from whingers moaning about how they've worked damn hard to get a salary of $100,000 and now they're going to get slugged.

All the facepalm in the world is not enough for these dimwits out there.

 

[Max zero]

If you live and work here you should be prepared to pay fair and equitable taxes. If you make plenty of money, you should be prepared to pay plenty of taxes. And super structures should support that concept too. That is how it works, or should work. Just because one can legally minimise tax and it is 'simple' to do, doesn't mean it is appropriate behaviour and some of that is being addressed.
Not sure that the average person needs feel nervous about govt's hitting their super. Gov't are generally trying their best to make their citizens comfortable. Surely this 'thin edge of the wedge' argument is last refuge of the scoundrel stuff?

I'm sorry but what you think ought to be isn't the same as what is actually legal. You could also argue that why should someone who earns more money pay a higher rate of tax? How is that actually 'fair'? If I work enough overtime to get taxed in a higher tax bracket why should I be partially punished for my extra effort?

A flat tax rate would be much fairer. Those who earn more would be taxed more but not proportionally punished more.

Governments do generally try to do the best for their citizens. Whether this government is however is a whole other question.

 

[Relativity]

Well good on you for showing a bit of social concience. Bravo old thing, knew you had it in you.

Social conscience? For questioning the sensibility of Government policy? Where for art thou logic romeoh?

 

[Dry Rot]

Pity about the Murdoch press and their readers.

Lots of comments on news.com.au from whingers moaning about how they've worked damn hard to get a salary of $100,000 and now they're going to get slugged.

All the facepalm in the world is not enough for these dimwits out there.

Obviously you are ****ing thick is you can't understand simple questions.

 

[yibbida]

Read this if you want a rational view of the changes without the hysteria of the conservative posters.

http://m.smh.com.au/business/super-still-gold-for-the-fabulously-wealthy-20130405-2hb5q.html

 

[Pessimistic]

How is legal tax minimisation measures cheating? If it was cheating the ATO would be all over them like a rash. Setting up a trust or keeping your super overseas is fairly simple.

It undermines confidence because it shows people that your retirement income can be hit at any time simply if the government of the day feels like it.

Id say the gfc has had more effect on peoples super than any government

 

[noddy]

Most of all the reports i have read/heard on this supposedly terrible crime of the century against Australian families has been on the positive side bar two sources being the Murdoch press & Abbott's mouth, oh & i guess i should add the Liberal luvvies on here.

Seeing as i consider myself as an average Australian with little expertise in most things regarding our taxation system then what side of the argument should i trust to put my mind at ease?

 

[Refried Noodle]

Obviously you are ****ing thick is you can't understand simple questions.

Obviously!

news.com.au also glazed over detailing the fact it will be indexed. Facilitating the uninformed masses to bitch and moan that 'in 10 years everyone will be earning $100,000 and getting slugged by this new tax'.

This government may be dysfunctional, but it warms my heart to see the far-right commentariat twisted and bitter.

 

[The Stifmeister]

The libs hated superannuation until they worked out they could turn it into a tax rort for the wealthy.

 

[Power Raid]

The libs hated superannuation until they worked out they could turn it into a tax rort for the wealthy.

Super is a great thing for the average person.

It ensures people who can't save do save.
It takes the burden of the government to pay for 100% of old age pensions. Especially because people live longer meaning a greater pension expense.

This is just one reason I believe Keating was the best treasurer and PM this country has ever had.

He was a horrible inconsiderate man but a genius which modernised this country. Shame labor leaders of today lack his vision but they have the horrible inconsiderate bit down pat!

 

[CM86]

How dare people attempt to protect the money they have worked so hard to earn? Some people have no respect. None at all.

However, given the intellectual brilliance and dedication of the public service and the wise and benevolent leadership of Wayne I have full confidence this can be averted.

If the 'reform' makes takes in no money but undermines confidence in super does it still count as a good idea?

Very interested to hear both of your views on the Coalition plans for superannuation. To be fair, like everything, they haven't really released a policy, but they have given us an idea.

 

[Dry Rot]

Very interested to hear both of your views on the Coalition plans for superannuation. To be fair, like every opposition since after Hewson's Libs, they haven't really released a policy, but they have given us an idea.

Corrected for accuracy.

 

[CM86]

Corrected for accuracy.

Amazing work as usual. It's almost like you pointed out exactly what I was saying in my post.
*Golf Clap*
I included that, so that there couldn't be the stance of "It isn't a policy".

But again, just top work! You just read it as an attack on the Coalition, and dived in to protect them.

 

[Dry Rot]

Amazing work as usual. It's almost like you pointed out exactly what I was saying in my post.
*Golf Clap*
I included that, so that there couldn't be the stance of "It isn't a policy".

But again, just top work! You just read it as an attack on the Coalition, and dived in to protect them.

No it was more the govt has done something, usually bad, and instead of discussing that another ALP fanboi deflects to Abbott, Howard or Menzies.

 

[Max zero]

Very interested to hear both of your views on the Coalition plans for superannuation. To be fair, like everything, they haven't really released a policy, but they have given us an idea.

So what exactly do you want us to comment on? No I don't scrutinise the opposition as much as the government, because they are the opposition.

I would also point out I am not planning on voting for the Liberals this election (as I haven't for the last 2 elections).

 

[CM86]

No it was more the govt has done something, usually bad, and instead of discussing that another ALP fanboi deflects to Abbott, Howard or Menzies.

Fair call on the deflection. To bad you don't actually discuss anything, you just throw out derogatory statements, and post links to the daily telegraph.

 

[blackshadow]

Watch for an exodus of funds out of super from those 16,000 people effected. They're people who are financially savvy and they're not going to let the government get their hands on their money. I'm predicting most of those funds will be transferred offshore and the revenue generated is a small fraction of the projected $900 million.

The mining tax says hello.

 

[noddy]

Watch for an exodus of funds out of super from those 16,000 people effected. They're people who are financially savvy and they're not going to let the government get their hands on their money. I'm predicting most of those funds will be transferred offshore and the revenue generated is a small fraction of the projected $900 million.

The mining tax says hello.

The Cayman Islands awaits them with open arms.

 

[Todman]

Obviously!

news.com.au also glazed over detailing the fact it will be indexed. Facilitating the uninformed masses to bitch and moan that 'in 10 years everyone will be earning $100,000 and getting slugged by this new tax'.

This government may be dysfunctional, but it warms my heart to see the far-right commentariat twisted and bitter.

It called bracket creep, and fuelled by inflation it will engulf more and more people, so soon the fabulous wealthy will include the ordinary mums and dads.

 

[yibbida]

The Cayman Islands awaits them with open arms.

So does Cyprus......well maybe not anymore.

Plus they still might need to pay tax from foreign investments.

http://www.ato.gov.au/businesses/content.aspx?doc=/content/64494.htm

15% for income above $100k is probably still attractive compared to alternatives.

 

[tandino]

The outcomes of Friday makes you think what exactly was on the table to get Simon Crean all excited?

 

[CM86]

It called bracket creep, and fuelled by inflation it will engulf more and more people, so soon the fabulous wealthy will include the ordinary mums and dads.

Link?